US-based Ball Corporation has agreed to acquire an aluminium aerosol packaging business with a plant near Sao Paolo, Brazil.
Ball Corp entered into a purchase agreement to buy Tubex Industria E Comercio de Embalagens Ltda on 12 March, along with associated contracts and other related assets for $80 million (€71.8 million).
The facility, which employs around 300 people, includes eight extruded aluminium aerosol can lines, producing personal care packaging for global and local customers in Brazil. John A. Hayes, Ball Corp's chairman, president and CEO said: "As the demand for sustainable aluminium 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 aluminium aerosol suppliers in Brazil."
Once the arrangement is finalised, the plant will become part of Ball's aluminium aerosol packaging division and complements the company's global aluminium and slug business in Europe, North America and Asia, led by vice-president and general manager Stan Platek.