An American company sold its business in Russia for 530 million dollars

The American company Ball Corporation, which occupied 70% of the production of aluminum beverage cans in the Russian market, sold its Russian business to the local Arnest group for 530 million dollars.

Following the March 2022 decision to withdraw from the Russian market, Ball Corporation announced that it has completed the sale of its beverage packaging business in Russia to Arnest Group for $530 million. The buyer acquires the entire Russian-based business of Ball Corporation, which has three plants – in the Moscow, Leningrad and Chelyabinsk regions.

“This decision is the result of many months of deliberation, providing a solution that best secures the future of Ball’s colleagues and assets in Russia.” We believe this is a good outcome for Ball in these geopolitical circumstances,” said Dan Fisher, president and CEO of Ball Corporation.

Arnest is the largest producer of perfumes, cosmetics and household products in aerosol packaging in Russia, and Ball’s aluminum aerosol division has had the opportunity to work with the world-class team at Arnest in the past.

Ball Corporation develops and manufactures aluminum beverage packaging, personal care and household products for customers, as well as aerospace and other technology and services primarily for the US government. It employs 24,300 people worldwide and reports 2021 net sales of $13.8 billion.


Leave a Comment

Your email address will not be published.