Manna Capital Partners to Broaden Access to U.S. Aluminum Can Sheet Production and Recycling in Alliance with Ball
May 26, 2022
WESTMINSTER, Colo., May 26, 2022 /PRNewswire/ -- Manna Capital Partners, a minority-owned business enterprise and investment firm, and Ball Corporation (NYSE: BALL), a leading global provider of infinitely recyclable aluminum beverage packaging, today announced an alliance in which Manna will construct and operate a state-of-the-art aluminum can sheet rolling mill and recycling center in Los Lunas, New Mexico. Ball will enter into a long-term supply agreement and also intends to take a minority equity position in the mill. Today's announcement demonstrates both companies' commitment to creating a more robust and sustainable domestic supply chain for the growing beverage packaging market.
Global aluminum can demand is expected to increase significantly by 2030, with North America estimated to account for a sizeable part of the growth. Since 2016, industry demand for beverage cans in North America has grown 24% from 107 billion units to approximately 133 billion units in 2021. While the industry in North America has relied on imported aluminum can sheet coils to meet demand, alliances like this one will allow Ball and its key customers to access more domestically produced aluminum can sheet and remove impediments to growth.
"At Manna, we are always looking for new ways to invest in companies that are doing good for the planet and people, while improving opportunities that support minority owned-business enterprises," said Ulysses L. "Junior" Bridgeman, Managing Partner of Manna Capital Partners. "We look forward to partnering with Ball, a leader in the beverage packaging industry, to improve supply chain efficiencies through domestic production of more sustainable aluminum."
"Further increasing recycled content in our products is key to boosting our sustainability and securing domestic supply of our key raw material," said Dan Fisher, President and CEO of Ball Corporation. "This alliance complements the significant manufacturing investments Ball has made across the Southwest U.S. since 2020 to meet growing demand for sustainable beverage packaging, and we look forward to teaming up with Manna and its management team to help create a truly circular economy for aluminum can sheet, bring skilled jobs to the region, and help our customers meet their sustainability commitments."
Infinitely recyclable and economically valuable, aluminum is becoming the sustainable beverage packaging material of choice, enabling circularity where materials can be – and actually are – used again and again. In fact, 75 percent of the aluminum ever produced is still in use today. Ball and key customers of the new mill will be provided high recycled content aluminum can sheet under long-term supply agreements. Further investment in used beverage can (UBC) recycling infrastructure is anticipated in order to supply the rolling mill with enough scrap material. The mill is expected to be operational in 2026 and ramp additional production over a multi-year period.
About Ball Corporation
Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products for customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 24,300 people worldwide and reported 2021 net sales of $13.8 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.
About Manna Capital Partners
Manna Capital Partners is a private investment firm founded by Junior Bridgeman and Kevin Attkisson. The firm focuses on investment and acquisition opportunities across multiple industries in the U.S. and internationally, including investments in sustainability and impact-oriented opportunities for minority and women owned businesses and communities. For more information, contact Manna Capital Partners at email@example.com or by phone at 502.805.1329.
This report contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates," "believes," and similar expressions typically identify forward-looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. You should therefore not place undue reliance upon any forward-looking statements and they should be read in conjunction with, and qualified in their entirety by, the cautionary statements referenced below. 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 factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in our Form 10-K, which are available on our website and at www.sec.gov. Additional factors that might affect: a) our packaging segments include product capacity, supply, and demand constraints and fluctuations and changes in consumption patterns; availability/cost of raw materials, equipment, and logistics; competitive packaging, pricing and substitution; changes in climate and weather; footprint adjustments and other manufacturing changes, including the startup of new facilities and lines; failure to achieve synergies, productivity improvements or cost reductions; unfavorable mandatory deposit or packaging laws; customer and supplier consolidation; power and supply chain interruptions; changes in major customer or supplier contracts or loss of a major customer or supplier; inability to pass through increased costs; war, political instability and sanctions, including relating to the situation in Russia and Ukraine and its impact on our supply chain and our ability to operate in Russia and the EMEA region generally; changes in foreign exchange or tax rates; and tariffs, trade actions, or other governmental actions, including business restrictions and shelter-in-place orders in any country or jurisdiction affecting goods produced by us or in our supply chain, including imported raw materials; b) our aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the Company as a whole include those listed above plus: the extent to which sustainability-related opportunities arise and can be capitalized upon; changes in senior management, succession, and the ability to attract and retain skilled labor; regulatory actions or issues including those related to tax, ESG reporting, competition, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; the ability to manage cyber threats; litigation; strikes; disease; pandemic; labor cost changes; inflation; rates of return on assets of the Company's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies, including policies, orders, and actions related to COVID-19; reduced cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, including the announced sale of our Russian business, and their effects on our operating results and business generally.
SOURCE Ball Corporation