Ball Corp considers options for aerospace unit

(Reuters) – Ball Corp, the world’s largest supplier of beer cans, said on Tuesday it was considering options for its aerospace business, days after a report said the company was looking to sell the unit for more than $5 billion.

The business has attracted the interest of large defense companies such as BAE Systems and Textron, as well as private equity firms, the Reuters report had said.

There is no certainty that any formal decision will be made, Ball Corp said in a statement on Tuesday.

The divestment of the aerospace business, which accounted for 13% of Ball’s consolidated net sales in 2022, would allow the company to focus more on its beverage packaging operations and trim its debt pile of about $9.7 billion.

(Reporting by Shivansh Tiwary in Bengaluru; Editing by Shinjini Ganguli)


Related Posts

1 of 90

Wait! Before you go...

Always be feeding your money brain. Claim one or all of the FREE offers from some of our partners below.