Ball Corp takes over Rexam after 16-month wait
Ball Corp first agreed the deal with Rexam in February last year
Ball Corp has completed its long-awaited takeover of rival can manufacturer Rexam.
It follows Ball gaining the final regulatory clearance last week for the US$6.6bn purchase, which was first agreed in February last year. The deal includes the divestment of some Rexam assets to Ardagh Group, a transaction that was agreed to satisfy the European Commission.
"We're delighted to move forward together as a leader in the packaging industry, supplying about 100bn innovative, high-quality metal beverage containers from the world's most efficient manufacturing footprint," said John Hayes, Ball's chairman, president & CEO. "We will immediately begin integrating the new business into our global metal beverage operations."
Will Ball Corp's patience for Rexam be rewarded with 2016 can bonanza? - Click here for a just-drinks comment
The purchase sees Ball take control of the following Rexam assets:
- Sixteen existing metal beverage packaging manufacturing plants in the US, Canada and Mexico
- The Rocky Mountain Metal Container joint venture in Golden, Colorado
- Beverage can manufacturing plants in Phoenix, Arizona; Chatsworth, California; St Paul, Minnesota; Longview, Texas; Kent, Washington; and Queretaro, Mexico
- An end manufacturing plant in Birmingham, Alabama, and
- Joint ventures in Amatitlan, Guatemala and Cristobal, Panama
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