PRESS RELEASE
Published on September 8, 2008
Exhibit 99.1
 |
|
News
Release
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| For Immediate Release | http://www.ball.com | |
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Investor
Contact:
Media Contact:
|
Ann T.
Scott
Scott McCarty
|
303-460-3537, ascott@ball.com
303-460-2103, smccarty@ball.com
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Ball
Corporation Announces Commencement of
Consent
Solicitation
BROOMFIELD,
Colo., Sept. 3, 2008—Ball Corporation [NYSE:BLL] today announced it has
commenced the solicitation of consents from holders of its 6 7/8 percent senior
notes due 2012 to amend certain provisions of the indenture governing the notes.
The primary purpose of the proposed amendments is to amend certain provisions of
the indenture governing restricted payments, so that such provisions generally
match provisions governing restricted payments contained in the indenture
governing Ball’s 6 5/8 percent senior notes due 2018.
The
consent solicitation commenced today and will expire at 5 p.m. Eastern time
on Sept. 16, 2008, unless extended. Only record holders of notes as of 5
p.m. Eastern time, on Sept. 2, 2008, will be eligible to consent to the
proposed amendments. The consent solicitation is conditioned on the receipt of
consents from record holders representing at least a majority in aggregate
principal amount of the outstanding notes and other customary conditions.
Holders of the notes who properly consent to the proposed amendments before the
consent solicitation expires and do not validly revoke such consent will receive
a cash payment of $2.50 for each $1,000 in principal amount of notes for which
they give consents.
Noteholders
with questions regarding the consent solicitation should contact Lehman Brothers
Inc., the solicitation agent, at 800-438-3242 or 212-528-7581. Copies of the
consent solicitation statement and related documents can be obtained from D.F. King & Co., Inc., the information and tabulation
agent, at 800-431-9643 or 212-269-5550.
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Ball
Corporation
10 Longs Peak Drive ● P.O.
Box 5000 ●
Broomfield, CO 80021
Ball
Corporation – 2
Ball
Corporation is a supplier of high-quality metal and plastic packaging for
beverage, food and household products 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 2007 sales of approximately $7.4 billion. For the latest
Ball news and for other company information, please visit http://www.ball.com.
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 product 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; competitive activity; failure to achieve anticipated productivity
improvements or production cost reductions, including our beverage can end
project; 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; changes in senior management; the current global credit
squeeze; successful or unsuccessful acquisitions, joint
ventures or divestitures; integration of recently acquired businesses;
regulatory action or laws including tax, environmental, health and workplace
safety, including in respect of chemicals or substances used in raw materials or
in the manufacturing process; 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