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 firstname.lastname@example.org or by phone at 502.805.1329.
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SOURCE Ball Corporation