Last week Colorado’s Ball Corporation entered into an agreement to purchase Brazilian aluminium aerosol firm Tubex Industria E Comercio de Embalagens Ltda for US$80 million.
According to Ball, the purchase will enhance the firm’s presence in South America, as the demand for sustainable packaging in the region continues to grow at an unprecedented rate.
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.
John A. Hayes, Ball’s chairman, president and chief executive officer, elaborated upon Ball’s reasoning for the purchase.
“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.”
Ball says the plant will be rolled into its aluminium aerosol packaging division, and will support the firm’s global aluminium aerosol and slug business in Asia, Europe, and North America, which is headed by Ball’s vice president and general manager Stan Platek.
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$11.6 billion in 2018.