UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 8, 1994
BALL CORPORATION
(Exact name of registrant as specified in its charter)
Indiana
(State or other jurisdiction of incorporation)
1-7349 35-0160610
(Commission File Number) (IRS Employer Identification No.)
345 South High Street, Muncie, IN 47307-0407
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (317) 747-6100
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Ball Corporation
FORM 8-K
Dated September 12, 1994
Item 5. Other Events.
On September 8, 1994, Ball Corporation announced the foreclosure on its
security interest with regard to certain assets sold to SDI Virtual Reality
Corporation in May. SDI agreed to this action and will return to Ball SDI's
assets located in San Diego.
A copy of the press release issued by Ball announcing the action is attached
hereto as Exhibit 99.1 and incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release dated September 8, 1994
See Exhibit Index.
<PAGE>
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 thereunto duly authorized.
Ball Corporation
(Registrant)
By: /s/ R. David Hoover
R. David Hoover
Senior Vice President and
Chief Financial Officer
Date: September 12, 1994
<PAGE>
Ball Corporation
FORM 8-K
Dated September 12, 1994
EXHIBIT INDEX
Exhibit Description
EX-99.1 Text of press release disseminated by the registrant on
September 8, 1994.
EXHIBIT 99.1
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BALL CORPORATION FORECLOSES
ON VISUAL IMAGING ASSETS
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MUNCIE, Ind., Sept. 8, 1994--Ball Corporation [NYSE:BLL] announced today
that it has foreclosed on its security interest with regard to certain assets
sold to SDI Virtual Reality Corporation in May. The action, which was agreed
to by SDI, returns to Ball SDI's San Diego assets only, while SDI continues to
operate its other businesses.
"The sale to SDI of the visual image generating business was consistent
with Ball's long term strategic plan," said George A. Sissel, Ball's acting
president and chief executive officer, "but SDI subsequently experienced
difficulty meeting its financial commitments to us and contractual commitments
to customers and others. We felt it was in everyone's interest for us to step
in quickly."
Sissel said Ball will work closely with SDI's affected customers while
examining other options for concluding Ball's participation in the visual image
generating arena. Ball's 1993 restructuring charge contemplated the
disposition of the visual image generating product line. Sissel said it is
impossible to determine at this time what additional costs, if any, Ball may
incur as a result of the foreclosure.
Ball manufactures glass and metal containers for the food and beverage
industries and also provides aerospace and communications products and services
to government and commercial customers.
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16/94 Media Contact: Harold Sohn, 317/747-6483 (days) or 317/573-8279
(nights)
Investor Contact: Brad Wilks, 317/747-6165 (days) or 317/282-6198
(nights)
