8-K: Current report filing
Published on October 30, 2008
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
Current
Report
Pursuant
to Section 13 or 15(D) of the
Securities
Exchange Act of 1934
October 30,
2008
(Date of
earliest event reported)
BALL
CORPORATION
(Exact
name of Registrant as specified in its charter)
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Indiana
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1-7349
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35-0160610
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(State
of
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(Commission
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(IRS
Employer
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Incorporation)
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File
No.)
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Identification
No.)
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10 Longs Peak Drive,
P.O. Box 5000, Broomfield, CO 80021-2510
(Address
of principal executive offices, including ZIP Code)
(303)
469-3131
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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□
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Written
communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
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□
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
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□
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
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□
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
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Ball
Corporation
Current
Report on Form 8-K
Dated
October 30, 2008
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Item 2.02.
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Results
of Operations and Financial
Condition.
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On
October 30, 2008, Ball Corporation (the “Company”) issued a press release
announcing its third quarter earnings for 2008, which results are set forth in
the press release dated October 30, 2008, and attached hereto as
Exhibit 99.1.
Earnings
information regarding the third quarter for 2008, as well as information
regarding the use of non-GAAP financial measures, are set forth in the attached
press release.
The
information in this Report shall not be deemed to be “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, (the
“Exchange Act”) or otherwise subject to the liability of that section, and shall
not be deemed incorporated by reference in any filing under the Securities Act
of 1933, as amended, or the Exchange Act, except as shall be expressly set forth
by specific reference in such filing.
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Item 2.05.
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Costs
Associated with Exit or Disposal
Activities
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On
October 30, 2008, the Company issued a press release, attached hereto as
Exhibit 99.2, announcing the closure of its metal beverage packaging
manufacturing plants in Kansas City, Missouri, and in Guayama, Puerto
Rico. As a result of the closures, an after-tax charge of
approximately $32 million will be recorded in the company’s
results. The charges include $19.2 million for employee
severance, pension and other employee benefit costs and $32.6 million
primarily related to accelerated depreciation and the write down to net
realizable value of certain fixed assets and related spare parts and
inventory. These charges will be offset by tax recoveries of
approximately $20 million. Approximately $28 million of the
charge is expected to be recorded in the fourth quarter of 2008 with the
remainder recorded in the first quarter of 2009. Cost reductions
associated with these plant closings are expected to exceed $30 million in
2009 and to be $9 million cash positive on final disposition of the
assets.
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Item 9.01.
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Financial
Statements and Exhibits.
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(d) Exhibits.
The
following are furnished as exhibits to this report:
Exhibit
99.1 Ball
Corporation Press Release dated October 30, 2008.
Exhibit
99.2 Ball
Corporation Press Release dated October 30, 2008.
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SIGNATURE
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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 hereunto
duly authorized.
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BALL
CORPORATION
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(Registrant)
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By:
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/s/
Raymond J. Seabrook
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Name:
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Raymond J.
Seabrook
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Title:
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Executive
Vice President and
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Chief
Financial Officer
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Date: October 30,
2008
Ball
Corporation
Form
8-K
October 30,
2008
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EXHIBIT
INDEX
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Description
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Exhibit
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Press
Release dated October 30, 2008.
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99.1
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Press
Release dated October 30, 2008.
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99.2
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