SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
Current Report
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Ball Corporation
Current Report on Form 8-K
Dated March 28, 2022
Item 8.01Other Events.
Ball Corporation Announces Decision to Leave Russia.
Ball Corporation (the “Company”) 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.
A copy of the press release is attached hereto as Exhibit 99.1
Item 9.01Financial Statements and Exhibits
Exhibits.
The following are furnished as exhibits to this report:
Exhibit 99.1 | ||
Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BALL CORPORATION | |||
(Registrant) | |||
By: | /s/ Charles E. Baker | ||
Name: Charles E. Baker | |||
Title: Vice President and General Counsel | |||
Date: March 28, 2022
Ball Corporation
Form 8-K
March 28, 2022
EXHIBIT INDEX | ||
Description | Exhibit | |
99.1 | ||
Exhibit 99.1
News Release For Immediate Release www.ball.com | Investor Contact: Ann T. Scott Media Contact: Bradford Walton 415-254-7168, bradford.walton@ball.com | |||||
Ball Corporation Announces Decision to Leave Russia
WESTMINSTER, Colo., March 28, 2022 – 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
Exhibit 99.1
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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Document and Entity Information |
Mar. 28, 2022 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Mar. 28, 2022 |
| Entity File Number | 001-07349 |
| Entity Registrant Name | BALL CORPORATION |
| Entity Incorporation, State or Country Code | IN |
| Entity Tax Identification Number | 35-0160610 |
| Entity Address, Address Line One | 9200 W. 108th Circle |
| Entity Address, Adress Line Two | P.O. Box 5000 |
| Entity Address, State or Province | CO |
| Entity Address, City or Town | Westminster |
| Entity Address, Postal Zip Code | 80021-2510 |
| City Area Code | 303 |
| Local Phone Number | 469-3131 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, without par value |
| Trading Symbol | BLL |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |
| Entity Central Index Key | 0000009389 |
| Amendment Flag | false |
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