Ball Corp. (NYSE: BALL) closed a 49:51 joint venture with Ayna.AI (Ayna), aimed at accelerating the development of the Aluminum Cup category. The new joint venture, named Oasis Venture Holdings LLC, will include the Aluminum Cup business, its commercial teams, supply chain, manufacturing teams and the plant in Rome, Ga., which will serve as its headquarters.
Ayna will partner with Westminster-based Ball, which is the minority investor, to expand the customer base for the Aluminum Cup while ensuring high operational standards and customer service. Ball has previously created successful joint ventures for financial and category growth, such as the heritage glass business and Ball Metalpack.
“In 2019, Ball made a strategic decision to expand the company’s offering by adding the Aluminum Cup to our portfolio, allowing Ball to create a new category for aluminum packaging,” said Jay Billings, senior vice president and president of Growth Ventures at Ball Corp. “We believe that partnering with Ayna, with its deep expertise and experience in this space, is the natural next step in our transformation as we continue to bring best-in-class innovative products to our customers.”
The new joint venture is positioned to grow and innovate in the market. Ayna will provide operational guidance, category experience and resources through their Engaged Investor Operator Model. This change will not impact current orders, and Ball said it is committed to ensuring a smooth transition and maintaining supply continuity for its customers.
