Ball Completes Sale of Aerospace Business

Core Points - Ball Corporation has completed the sale of its aerospace business for approximately $5.6 billion, which is subject to customary closing adjustments [1] - The company plans to utilize around $4.5 billion of after-tax cash proceeds to reduce leverage, return value to shareholders, and enhance financial flexibility while focusing on sustainability through aluminum packaging solutions [2] - Approximately $2 billion of the after-tax proceeds will be allocated to reduce net debt, another $2 billion for share repurchases, and the remaining proceeds will be used to strengthen the balance sheet [3] Company Overview - Ball Corporation is a leading producer of sustainable aluminum packaging solutions for beverage, personal care, and household products, employing 16,000 people worldwide and reporting net sales of $14.03 billion in 2023 [4]