WESTMINSTER, Colo., March 28,
2022 /PRNewswire/ -- Ball Corporation (NYSE: BLL)
continues to be deeply troubled by the war in Ukraine. In addition to suspending future
investments in Russia—a decision we shared last week—we have made
the decision to reduce operations immediately at our three
manufacturing facilities in Russia
and are pursuing the sale of our Russian business to a new
owner.
In 2021, our Russian business represented approximately 4
percent of the company's total net sales and 8 percent of the
company's total comparable operating earnings. In addition, our
plants in Russia produced
approximately 5 percent of the company's 112.5 billion global
beverage can unit shipments during 2021.
About Ball Corporation
Ball Corporation supplies
innovative, sustainable aluminum packaging solutions for beverage,
personal care and household products for customers, as well as
aerospace and other technologies and services primarily for the
U.S. government. Ball Corporation and its subsidiaries employ
24,300 people worldwide and reported 2021 net sales of $13.8 billion. For more information, visit
www.ball.com, or connect with us on Facebook or Twitter.
Forward-Looking Statements
This release contains
"forward-looking" statements concerning future events and financial
performance. Words such as "expects," "anticipates," "estimates,"
"believes," and similar expressions typically identify
forward-looking statements, which are generally any statements
other than statements of historical fact. Such statements are based
on current expectations or views of the future and are subject to
risks and uncertainties, which could cause actual results or events
to differ materially from those expressed or implied. You should
therefore not place undue reliance upon any forward-looking
statements and they should be read in conjunction with, and
qualified in their entirety by, the cautionary statements
referenced below. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Key factors,
risks and uncertainties that could cause actual outcomes and
results to be different are summarized in filings with the
Securities and Exchange Commission, including Exhibit 99 in our
Form 10-K, which are available on our website and at www.sec.gov.
Additional factors that might affect: a) our packaging segments
include product capacity, supply, and demand constraints and
fluctuations and changes in consumption patterns; availability/cost
of raw materials, equipment, and logistics; competitive packaging,
pricing and substitution; changes in climate and weather; footprint
adjustments and other manufacturing changes, including the startup
of new facilities and lines; failure to achieve synergies,
productivity improvements or cost reductions; unfavorable mandatory
deposit or packaging laws; customer and supplier consolidation;
power and supply chain interruptions; changes in major customer or
supplier contracts or loss of a major customer or supplier;
inability to pass through increased costs; war, political
instability and sanctions, including relating to the situation in
Russia and Ukraine and its impact on our supply chain and
our ability to operate in Russia
and the EMEA region generally; changes in foreign exchange or tax
rates; and tariffs, trade actions, or other governmental actions,
including business restrictions and shelter-in-place orders in any
country or jurisdiction affecting goods produced by us or in our
supply chain, including imported raw materials; b) our aerospace
segment include funding, authorization, availability and returns of
government and commercial contracts; and delays, extensions and
technical uncertainties affecting segment contracts; c) the Company
as a whole include those listed above plus: the extent to which
sustainability-related opportunities arise and can be capitalized
upon; changes in senior management, succession, and the ability to
attract and retain skilled labor; regulatory actions or issues
including those related to tax, ESG reporting, competition,
environmental, health and workplace safety, including U.S. FDA and
other actions or public concerns affecting products filled in our
containers, or chemicals or substances used in raw materials or in
the manufacturing process; technological developments and
innovations; the ability to manage cyber threats; litigation;
strikes; disease; pandemic; labor cost changes; inflation; rates of
return on assets of the Company's defined benefit retirement plans;
pension changes; uncertainties surrounding geopolitical events and
governmental policies, including policies, orders, and actions
related to COVID-19; reduced cash flow; interest rates affecting
our debt; and successful or unsuccessful joint ventures,
acquisitions and divestitures, and their effects on our operating
results and business generally.
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SOURCE Ball Corporation