WESTMINSTER, Colo., May 26, 2022 /PRNewswire/ -- Manna
Capital Partners, a minority-owned business enterprise and
investment firm, and Ball Corporation (NYSE: BALL), a leading
global provider of infinitely recyclable aluminum beverage
packaging, today announced an alliance in which Manna will
construct and operate a state-of-the-art aluminum can sheet rolling
mill and recycling center in Los Lunas,
New Mexico. Ball will enter into a long-term supply
agreement and also intends to take a minority equity position in
the mill. Today's announcement demonstrates both companies'
commitment to creating a more robust and sustainable domestic
supply chain for the growing beverage packaging market.
Global aluminum can demand is expected to increase significantly
by 2030, with North America
estimated to account for a sizeable part of the growth. Since 2016,
industry demand for beverage cans in North America has grown 24% from 107 billion
units to approximately 133 billion units in 2021. While the
industry in North America has
relied on imported aluminum can sheet coils to meet demand,
alliances like this one will allow Ball and its key customers to
access more domestically produced aluminum can sheet and remove
impediments to growth.
"At Manna, we are always looking for new ways to invest in
companies that are doing good for the planet and people, while
improving opportunities that support minority owned-business
enterprises," said Ulysses L. "Junior" Bridgeman, Managing
Partner of Manna Capital Partners. "We look forward to
partnering with Ball, a leader in the beverage packaging industry,
to improve supply chain efficiencies through domestic production of
more sustainable aluminum."
"Further increasing recycled content in our products is key to
boosting our sustainability and securing domestic supply of our key
raw material," said Dan Fisher,
President and CEO of Ball Corporation. "This alliance
complements the significant manufacturing investments Ball has made
across the Southwest U.S. since 2020 to meet growing demand for
sustainable beverage packaging, and we look forward to teaming up
with Manna and its management team to help create a truly circular
economy for aluminum can sheet, bring skilled jobs to the region,
and help our customers meet their sustainability commitments."
Infinitely recyclable and economically valuable, aluminum is
becoming the sustainable beverage packaging material of choice,
enabling circularity where materials can be – and actually are –
used again and again. In fact, 75 percent of the aluminum ever
produced is still in use today. Ball and key customers of the new
mill will be provided high recycled content aluminum can sheet
under long-term supply agreements. Further investment in used
beverage can (UBC) recycling infrastructure is anticipated in order
to supply the rolling mill with enough scrap material. The mill is
expected to be operational in 2026 and ramp additional production
over a multi-year period.
About Ball Corporation
Ball Corporation supplies innovative, sustainable aluminum
packaging solutions for beverage, personal care and household
products for customers, as well as aerospace and other technologies
and services primarily for the U.S. government. Ball Corporation
and its subsidiaries employ 24,300 people worldwide and reported
2021 net sales of $13.8 billion. For
more information, visit www.ball.com, or connect with us on
Facebook or Twitter.
About Manna Capital Partners
Manna Capital Partners is a private investment firm founded by
Junior Bridgeman and Kevin Attkisson. The firm focuses on investment
and acquisition opportunities across multiple industries in the
U.S. and internationally, including investments in sustainability
and impact-oriented opportunities for minority and women owned
businesses and communities. For more information, contact Manna
Capital Partners at info@mannacappartners.com or by phone at
502.805.1329.
Forward-Looking Statements
This report contains "forward-looking" statements concerning
future events and financial performance. Words such as "expects,"
"anticipates," "estimates," "believes," and similar expressions
typically identify forward-looking statements, which are generally
any statements other than statements of historical fact. Such
statements are based on current expectations or views of the future
and are subject to risks and uncertainties, which could cause
actual results or events to differ materially from those expressed
or implied. You should therefore not place undue reliance upon any
forward-looking statements and they should be read in conjunction
with, and qualified in their entirety by, the cautionary statements
referenced below. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Key factors,
risks and uncertainties that could cause actual outcomes and
results to be different are summarized in filings with the
Securities and Exchange Commission, including Exhibit 99 in our
Form 10-K, which are available on our website and at www.sec.gov.
Additional factors that might affect: a) our packaging segments
include product capacity, supply, and demand constraints and
fluctuations and changes in consumption patterns; availability/cost
of raw materials, equipment, and logistics; competitive packaging,
pricing and substitution; changes in climate and weather; footprint
adjustments and other manufacturing changes, including the startup
of new facilities and lines; failure to achieve synergies,
productivity improvements or cost reductions; unfavorable mandatory
deposit or packaging laws; customer and supplier consolidation;
power and supply chain interruptions; changes in major customer or
supplier contracts or loss of a major customer or supplier;
inability to pass through increased costs; war, political
instability and sanctions, including relating to the situation in
Russia and Ukraine and its impact on our supply chain and
our ability to operate in Russia
and the EMEA region generally; changes in foreign exchange or tax
rates; and tariffs, trade actions, or other governmental actions,
including business restrictions and shelter-in-place orders in any
country or jurisdiction affecting goods produced by us or in our
supply chain, including imported raw materials; b) our aerospace
segment include funding, authorization, availability and returns of
government and commercial contracts; and delays, extensions and
technical uncertainties affecting segment contracts; c) the Company
as a whole include those listed above plus: the extent to which
sustainability-related opportunities arise and can be capitalized
upon; changes in senior management, succession, and the ability to
attract and retain skilled labor; regulatory actions or issues
including those related to tax, ESG reporting, competition,
environmental, health and workplace safety, including U.S. FDA and
other actions or public concerns affecting products filled in our
containers, or chemicals or substances used in raw materials or in
the manufacturing process; technological developments and
innovations; the ability to manage cyber threats; litigation;
strikes; disease; pandemic; labor cost changes; inflation; rates of
return on assets of the Company's defined benefit retirement plans;
pension changes; uncertainties surrounding geopolitical events and
governmental policies, including policies, orders, and actions
related to COVID-19; reduced cash flow; interest rates affecting
our debt; and successful or unsuccessful joint ventures,
acquisitions and divestitures, including the announced sale of our
Russian business, and their effects on our operating results and
business generally.
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SOURCE Ball Corporation