Colorado’s Ball Corporation announced on Monday the completion of its acquisition of Tubex Industria E Comercio de Embalagens Ltda. in Brazil for US$80 million.
Per the firm, Tubex is now part of Ball Corporation’s aluminium aerosol packaging division, and will complement its aerosol and slug business in North and South America, Europe, and India.
In a news release issued announcing the purchase this spring, John A. Hayes, Ball’s chairman, president and chief executive officer, said the move would help his firm take advantage of a growing demand.
“As the demand for sustainable aluminum packaging continues to grow among customers and consumers worldwide, this investment allows us to broaden our geographic reach and serve this expanding market as one of the leading aluminum aerosol suppliers in Brazil.”
Tubex operates an aluminium aerosol packaging plant on the outskirts of São Paolo, Brazil, which Ball will be taking title to as a part of the deal. Ball will also assume the relevant contracts in which Tubex is a party, as well as taking title to other assets tied to Tubex.
Tubex’s São Paolo plant features eight extruded-aluminium aerosol can production lines that produce personal-care packaging for customers both domestic and international. The plant is operated by a workforce of about 300 individuals.
Based in suburban Denver, Ball Corporation produces consumer food and beverage packaging for customers around the world. The firm employs 17,500 individuals and boasted net sales of US$11.5 billion in 2019.