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) March 8, 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
Ball Corporation
Current Report on Form 8-K
Dated March 20, 1997
Item 5. Other Events.
Ball Corporation has completed an offering for the publicly held shares of M.C.
Packaging Limited of Hong Kong. Ball, through its 95-percent owned Hong Kong
subsidiary, FTB Packaging Ltd., has tendered for and acquired via the tender and
open-market purchases more than 90 percent of MCP's publicly held stock as of
March 8, 1997.
Ball Corporation now has ownership interests in 20 plants in China and Hong
Kong. Total sales of FTB, MCP and their equity affiliates combined are
approximately $500 million. Together, FTB and MCP accounted for approximately 50
percent of two-piece beverage can shipments in China and Hong Kong, and have
annual production capacity of approximately seven billion packaging units.
Beverage can consumption in China, a nation of 1.2 billion people, is estimated
today at between six and seven billion cans. By contrast, the United States,
with a population of only one-fifth that of China, consumes nearly 100 billion
beverage cans annually.
In addition to manufacturing two-piece aluminum beverage cans in China, FTB and
MCP make three-piece beverage and food cans, ends for two-piece and three-piece
cans, aerosol cans, plastic bottles and closures and other plastic products such
as plastic caps. MCP also is the largest decorator of metal sheet in China. The
companies employ approximately 4,800 people.
Ball previously acquired a controlling interest in M.C. Packaging in January of
this year from Lam Soon (Hong Kong) Limited for HK$2.80 per share. That
acquisition, combined with the results of the public offering, means Ball,
through FTB, will own, directly and indirectly, approximately 75 percent of MCP.
Ball, through FTB, will now make a compulsory acquisition of the remaining
shares that were subject to the public offering, and will ask the Stock Exchange
of Hong Kong to delist the MCP shares.
Item 7. Financial Statements and Exhibits
The following is filed as an Exhibit to this report.
Exhibit Number 99
Description
Ball Completes Largest International Acquisition in Company History
Ball Corporation
Current Report on Form 8-K
Dated March 20, 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: March 20, 1997 By: /s/ A. R. Schlesinger
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A. R. Schlesinger
Vice President and Controller
Ball Corporation
Current Report on Form 8-K
Dated March 20, 1997
EXHIBIT INDEX
Exhibit Description
EX-99 Text of a press release disseminated by the registranton March 12, 1997.