Ball Corp. to pursue sale of Russian operations to new owner

Mar. 28, 2022 5:56 PM ETBall Corporation (BALL)By: Carl Surran, SA News Editor1 Comment

Beverage

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Ball Corp. (NYSE:BLL) says it will reduce operations immediately at its three manufacturing facilities in Russia and pursue a sale of its Russian business to a new owner.

Ball says its Russian business represented 4% of total net sales and 8% of total comparable operating earnings in FY 2021, and its plants in Russia produced 5% of the company's 112.5B global beverage can unit shipments during the year.

Ball shares have recouped most of their initial losses from the early days of Russia's invasion of Ukraine; citing volume growth in beverage cans and double-digit growth in the company's aerospace segment, BMO Capital recently upgraded the stock to Outperform.

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