US: Ball settles contract dispute with Miller
Packaging giant Ball Corporation has announced that its subsidiary Ball Metal Beverage Container Corp. (BMBCC) has settled its dispute with Miller Brewing over an alleged breach of contract.
Under the terms of the settlement, BMBCC will continue to supply all of Miller's beverage can and end requirements through to 2015, and will make a one-off payment to Miller in January 2008 of approximately US$70m to resolve various business issues between the parties.
Ball said certain adjustments to the provisions of BMBCC's supply arrangements with Miller would also be made but gave no specific details. Further details of the settlement are to remain confidential.
"We are pleased to have this dispute behind us and that the good faith mediation process resulted in this settlement," said R. David Hoover, chairman, president and CEO of Ball Corporation. "We value Miller Brewing Company's business and are proud to have been a past recipient of numerous supplier awards from Miller. We look forward to performing to the same high level that merited these awards during the remaining eight-plus years of our contract."
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