Ball Corp. has completed the sale of 41% of its ownership interest in the Ball United Arab Can Manufacturing Company (UAC) in Saudi Arabia to a subsidiary of ORG Technology Co., Ltd. for approximately $70 million, subject to customary closing adjustments.
This transaction marks a deepening of the relationship between Ball and ORG while allowing Ball to retain a 10% ownership interest in the joint venture. Following the sale, Ball will no longer consolidate UAC into its financial statements.
Daniel W. Fisher, chairman and chief executive officer, said, “Today’s announcement reflects our continued focus on a disciplined, returns-oriented portfolio.” He added that the collaboration aims to enhance service to customers in Saudi Arabia and the broader Middle East, while also enabling Ball to invest in core growth and create long-term value.
Westminster-based Ball Corp. specializes in sustainable aluminum packaging solutions and employs 16,000 people globally, with 2024 net sales reported at $11.8 billion, excluding its divested aerospace business.
