EXHIBIT 99.1 PRESS RELEASE
Published on October 17, 2005
Exhibit
99.1
News
Release
|
For
Immediate Release
|
http://www.ball.com
|
|
|
Investor
Contact:
|
Ann.
T. Scott
|
303-460-3537,
ascott@ball.com
|
|
Media
Contact:
|
Scott
McCarty
|
303-460-2103,
smccarty@ball.com
|
Ball
Announces Completion of Refinancing
of
Credit Facility, Call of 2006 Bonds
BROOMFIELD,
Colo., Oct. 13, 2005—Ball Corporation [NYSE:BLL] today announced it has
completed the closing of its new
senior secured credit facility. The new senior secured credit facility extends
debt maturities at lower interest rate spreads and provides Ball with additional
borrowing capacity and more flexibility for future growth.
Ball
also
announced it will redeem all $249 million of its outstanding 7 ¾ percent Senior
Notes due in 2006. This redemption is scheduled for Nov. 14, 2005, and will
result in an after-tax, one-time charge of approximately $3.9 million in the
fourth quarter relating to payment of the call premium and write off of
unamortized debt issuance costs. The refinancing and redemption of notes will
result in a reduction of Ball’s 2006 interest expense.
Ball
Corporation is a supplier of metal and plastic packaging products, primarily
for
the beverage and food industries. The company also owns Ball Aerospace &
Technologies Corp., which develops sensors, spacecraft, systems and components
for government and commercial markets. Ball Corporation employs more than 13,500
people and reported 2004 sales of $5.4 billion.
-
more
-
Ball
Corporation
10
Longs
Peak Drive ·
PO Box
5000 ·
Broomfield, CO 80021 ·
(303)
460-2103
“Our
Quasquicentennial Year”
Ball
Corp
- 2
Forward-Looking
Statements
The
information in this news release contains "forward-looking" statements and
other
statements concerning future events and financial performance. Words such as
“expects,”“anticipates,”“estimates,” and variations of same and similar
expressions are intended to identify forward-looking statements. Forward-looking
statements are subject to risks and uncertainties which could cause actual
results to differ materially from those expressed or implied. 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 risks and uncertainties are summarized in the company’s filings with the
Securities and Exchange Commission, especially in Exhibit 99.2 in the most
recent Form 10-K. These filings are available at our Web site and at
www.sec.gov. Factors that might affect our packaging segments include
fluctuation in consumer and customer demand; availability and cost of raw
materials, including due to the effects of hurricanes Katrina and Rita, as
well
as recent significant increases in resin, steel, aluminum and energy costs,
and
the ability to pass such increases on to customers; competitive packaging
availability, pricing and substitution; changes in climate and weather; fruit,
vegetable and fishing yields; industry productive capacity and competitive
activity; failure to achieve anticipated productivity improvements or production
cost reductions, including those associated with our beverage can end project;
the German mandatory deposit or other restrictive packaging laws; changes in
major customer or supplier contracts or loss of a major customer or supplier;
international business risks, including foreign exchange rates, tax rates and
activities of foreign subsidiaries; and the effect of LIFO accounting on
earnings. Factors that might affect aerospace segment include: funding,
authorization and availability of government contracts and the nature and
continuation of those contracts; and technical uncertainty associated with
segment contracts. Factors that could affect the company as a whole include
those listed plus: acquisitions, joint ventures or divestitures; regulatory
action or laws including tax, environmental and workplace safety; governmental
investigations; goodwill impairment; antitrust and other litigation; strikes;
boycotts; labor cost changes; rates of return projected and earned on assets
of
the company's defined benefit retirement plans; reduced cash flow; interest
rates affecting our debt; and changes to unaudited results due to statutory
audits or management’s evaluation of the company’s internal control over
financial reporting.
21/05 #
#
#
Ball
Corporation
10
Longs
Peak Drive ·
PO Box
5000 ·
Broomfield, CO 80021 ·
(303)
460-2103
“Our
Quasquicentennial Year”