Ball Corporation has completed the acquisition of Tubex Industria E Comercio de Embalagens for US$ 80 million (approximately Rs 585 crore). The deal also includes a potential earn-out payment.
Tubex is an impact extruded aluminum aerosol packaging business that includes a manufacturing plant in Itupeva, which is near Sao Paolo, Brazil. The Itupeva plant includes eight extruded aluminum aerosol can lines and produces personal care packaging for global and local customers in Brazil.
The business, now part of Ball’s aluminum aerosol packaging division, complements Ball’s global aluminum aerosol and slug business in the Americas, Europe, and India. According to Ball, the purchase will enhance the firm’s presence in South America to meet the increasing demand for innovative, sustainable beverage packaging in the US.
Based in suburban Denver, Ball Corporation supplies innovative, sustainable packaging solutions for beverage, personal care, household products customers, and aerospace and other technologies and services primarily for the US government.