EXHIBIT 99 - PRESS RELEASE
Published on October 10, 2007
Exhibit
99
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News
Release
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For
Immediate Release
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http://www.ball.com
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Investor
Contact:
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Ann
T. Scott
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303-460-3537,
ascott@ball.com
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Media
Contact:
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Scott
McCarty
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303-460-2103,
smccarty@ball.com
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Ball
Announces Settlement
BROOMFIELD,
Colo., October 9, 2007—Ball Corporation [NYSE:BLL] announced today that Ball
Metal Beverage Container Corp. (BMBCC) and Miller Brewing Company (Miller)
had
settled their dispute regarding an alleged breach of contract by
BMBCC.
Under
the
settlement, BMBCC will continue to supply all of Miller’s beverage can and end
requirements through 2015. Miller is one of BMBCC’s largest
customers.
BMBCC
will make a one-time payment to Miller in January 2008 of approximately $70
million to resolve various business issues between the parties, who have also
agreed to make certain adjustments to the provisions of BMBCC’s supply
arrangements with Miller. Further details of the settlement are confidential.
The overall settlement will result in a third quarter charge to Ball of
approximately $86 million (approximately $52 million after tax).
“We
are
pleased to have this dispute behind us and that the good faith mediation process
resulted in this settlement,” said R. David Hoover, chairman, president and CEO
of Ball Corporation. “We value Miller Brewing Company’s business and are proud
to have been a past recipient of numerous supplier awards from Miller. We look
forward to performing to the same high level that merited these awards during
the remaining eight-plus years of our contract.”
Ball
Corporation is a supplier of high-quality metal and plastic packaging products
for beverage, food and household customers, and of aerospace and other
technologies and services, primarily for the U.S. government. Ball Corporation
and its subsidiaries employ more than 15,500 people worldwide and reported
2006
sales of $6.6 billion.
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more
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Ball
Corporation
10
Longs
Peak Drive ·
P.O. Box 5000 ·
Broomfield, CO 80021
Ball
Corporation - 2
Third
Quarter Conference Call Details
Ball
Corporation will announce its third quarter 2007 earnings on Thursday, Oct.
25,
2007, before trading begins on the New York Stock Exchange. At 8:30 a.m.
Mountain Time on that day (10:30 a.m. Eastern), Ball will hold its regular
quarterly conference call on the company's results and performance. The North
American toll-free number for the call is 800-926-7535. International callers
should dial 415-226-5354. Please use the following URL for a Web cast of the
live call:
http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=115234&eventID=1656329
For
those
unable to listen to the live call, a taped replay will be available after the
live call’s conclusion until 12:30 a.m. Eastern Time on Nov.1, 2007. To
access the replay, call 800-383-0935 (North American callers) or 402-977-9140
(international callers) and use reservation number 21350553. A written
transcript of the call will be posted within 48 hours of the call's conclusion
to Ball's Web site at www.ball.com in the investors section under
"presentations.”
Forward-Looking
Statements
This
release contains "forward-looking" statements concerning future events and
financial performance. Words such as “expects,” “anticipates,” “estimates” and
similar expressions are intended to identify forward-looking statements. Such
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 filings with the Securities and
Exchange Commission, including Exhibit 99.2 in our Form 10-K, which 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
and
preferences; availability and cost of raw materials, including 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; crop
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; and changes
in
foreign exchange rates, tax rates and activities of foreign subsidiaries.
Factors that might affect our aerospace segment include: funding, authorization,
availability and returns of government and commercial contracts; and delays,
extensions and technical uncertainties affecting segment contracts. Factors
that
might affect the company as a whole include those listed plus: accounting
changes; successful or unsuccessful acquisitions, joint
ventures or divestitures; integration of recently acquired businesses;
regulatory action or laws including tax, environmental and workplace safety;
governmental investigations; technological developments and innovations;
goodwill impairment; antitrust, patent and other litigation; strikes; labor
cost
changes; rates of return projected and earned on assets of the company's defined
benefit retirement plans; pension changes; reduced cash flow; interest rates
affecting our debt; and changes to unaudited results due to statutory audits
or
other effects.
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Ball
Corporation
10
Longs
Peak Drive ·
P.O. Box 5000 ·
Broomfield, CO 80021