SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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) January 2, 1997
BALL CORPORATION
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(Exact name of registrant as specified in its charter)
Indiana
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(State or other jurisdiction of incorporation)
1-7349 35-0160610
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(Commission File Number) (IRS Employer Identification No.)
345 South High Street, Muncie, Indiana 47305-2326
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (317) 747-6100
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Ball Corporation
Current Report on Form 8-K
Dated January 17, 1997
Item 5. Other Events.
On January 3, 1997, Ball Corporation announced that its Hong Kong subsidiary,
FTB Packaging Limited, had completed the purchase of Lam Soon (Hong Kong)
Limited's controlling interest in M.C. Packaging (Hong Kong) Limited on January
2, 1997. FTB paid approximately $73 million for Lam Soon's direct and indirect
economic interest of approximately 30 percent and controls directly and
indirectly approximately 51.2 percent of the voting rights of M.C. Packaging, a
Hong Kong-based manufacturer of packaging products.
Ball, through FTB, has made an offer for the outstanding public shares of M.C.
Packaging, also at HK$2.80 per share. If all public shares are tendered, FTB,
for a total consideration of approximately US$190 million will own, directly or
indirectly approximately 74 percent of the economic interest of M.C. Packaging
and will control all of the voting rights. The offer is expected to be completed
in February 1997.
Item 7. Financial Statements and Exhibits
The following is filed as an Exhibit to this Report.
Exhibit Number 99
Description
Ball Announces Purchase of Lam Soon's Interest in M.C. Packaging.
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Ball Corporation
Current Report on Form 8-K
Dated January 17, 1997
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)
Date: January 17, 1997 By: /s/ A. R. Schlesinger
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A. R. Schlesinger
Vice President and Controller
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Ball Corporation
Current Report on Form 8-K
Dated January 17, 1997
EXHIBIT INDEX
Exhibit Description
EX-99 Text of a press release disseminated by the registrant on January 3, 1997.
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Ball Corporation
Current Report on Form 8-K
Dated January 17, 1997
Exhibit EX-99
Following is the text of a press release disseminated by the registrant on
January 3, 1997:
BALL COMPLETES PURCHASE OF CONTROLLING INTEREST OF M.C. PACKAGING LTD.
MUNCIE, Ind., Jan. 3, 1997--Ball Corporation [NYSE: BLL] said today
that its Hong Kong subsidiary, FTB Packaging Limited, had completed the
previously announced purchase of Lam Soon (Hong Kong) Limited's controlling
interest in M.C. Packaging (Hong Kong) Limited.
FTB paid HK$2.80 per share, or approximately US$73 million, for Lam
Soon's direct and indirect economic interest of approximately 30 percent and
controls directly and indirectly approximately 51.2 percent of the voting
rights of M.C. Packaging, a Hong Kong-based manufacturer of packaging
products.
Ball, through FTB, soon will make an offer for the outstanding public
shares of M.C. Packaging, also at HK$2.80 per share. If all public shares are
tendered, FTB, for a total consideration of approximately US$190 million, will
own, directly and indirectly, approximately 74 percent of the economic
interest of M.C. Packaging and will control all of the voting rights. The
offer is expected to be completed in February.
M.C. Packaging has 14 manufacturing operations, one in Hong Kong and 13
through affiliates in the People's Republic of China. It produces various
forms of packaging, including aluminum beverage cans, steel food and beverage
cans, and plastic bottles. M.C. Packaging has approximately 19 percent of the
market for two-piece beverage cans in China, and 50 percent of both the
beverage can and food can markets in Hong Kong. Sales in 1995 were US$195
million.
Through its FTB subsidiary, Ball currently operates seven plants in
China, primarily producing beverage cans and ends, with a 30-percent market
share.
Ball Corporation produces rigid metal and plastic packaging products
for foods and beverages and provides aerospace and other technology products
and services to government and commercial customers.
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Note: This news release may contain forward-looking statements as encouraged
by the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are necessarily projections which are subject to change upon the
occurrence of certain events which may affect the business, many of which are
set forth in the company's 8-K report filed with the Securities and Exchange
Commission on July 16, 1996.
1/97
Media Contact: Scott McCarty, 317/747-6175, [email protected]
Investor Contact: Doug Poling, 317/747-6465, [email protected]
Ball Home Page: http://www.ball.com
