EXHIBIT 99.1 - OTHER DOCUMENTS OR STATEMENTS
Published on September 13, 1994
EXHIBIT 99.1
- - -----------------------------------------------------------------------
BALL CORPORATION FORECLOSES
ON VISUAL IMAGING ASSETS
- - -----------------------------------------------------------------------
MUNCIE, Ind., Sept. 8, 1994--Ball Corporation [NYSE:BLL] announced today
that it has foreclosed on its security interest with regard to certain assets
sold to SDI Virtual Reality Corporation in May. The action, which was agreed
to by SDI, returns to Ball SDI's San Diego assets only, while SDI continues to
operate its other businesses.
"The sale to SDI of the visual image generating business was consistent
with Ball's long term strategic plan," said George A. Sissel, Ball's acting
president and chief executive officer, "but SDI subsequently experienced
difficulty meeting its financial commitments to us and contractual commitments
to customers and others. We felt it was in everyone's interest for us to step
in quickly."
Sissel said Ball will work closely with SDI's affected customers while
examining other options for concluding Ball's participation in the visual image
generating arena. Ball's 1993 restructuring charge contemplated the
disposition of the visual image generating product line. Sissel said it is
impossible to determine at this time what additional costs, if any, Ball may
incur as a result of the foreclosure.
Ball manufactures glass and metal containers for the food and beverage
industries and also provides aerospace and communications products and services
to government and commercial customers.
- end -
16/94 Media Contact: Harold Sohn, 317/747-6483 (days) or 317/573-8279
(nights)
Investor Contact: Brad Wilks, 317/747-6165 (days) or 317/282-6198
(nights)