BROOMFIELD, Colo., March 2 /PRNewswire-FirstCall/ -- Michael W. Feldser has been named president, aerosol and specialty containers, for Ball Corporation . He will oversee the operations Ball is acquiring from U.S. Can Corporation.
Feldser, 55, was most recently vice president, general manager for CCL Container. He began his packaging career in 1975 as an accounting and financial analyst with Continental Can, which was later acquired by Crown Cork & Seal. Feldser held a variety of positions for Continental Can and Crown -- including plant manager; vice president quality, North American metal packaging; and vice president manufacturing, beverage and two-piece food -- before joining Zinc Corporation of America in 2001 as senior vice president, operations. He joined CCL Container in 2002.
"Mike is an experienced industry veteran with extensive knowledge of aluminum and steel packaging for foods and beverages," said John R. Friedery, senior vice president and chief operating officer, North American packaging operations. "He will be actively involved in the integration of the U.S. Can acquisition and in developing the future strategic direction of our aerosol and specialty products operations."
Ball announced Feb. 14 the company had entered into a definitive agreement to acquire U.S. Can Corporation's 10 plants in the United States and two plants in Argentina. U.S. Can is the largest manufacturer of aerosol cans in the United States. In addition to aerosol cans, the company manufactures paint cans, plastic containers and custom and specialty cans. The acquisition is expected to close by the end of the first quarter, subject to customary closing conditions.
Ball Corporation is a supplier of high-quality metal and plastic packaging products and owns Ball Aerospace & Technologies Corp., which develops sensors, spacecraft, systems and components for government and commercial customers. Ball reported 2005 sales of $5.8 billion and the company employs 13,100 people worldwide.
Forward-Looking Statements
This news release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates," and variations of same 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 in Exhibit 99.2 in our Form 10-K. These filings are available at our Web site and at http://www.sec.gov/. Factors that might affect our packaging segments include fluctuation in consumer and customer 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; fruit, vegetable and fishing yields; industry productive capacity and competitive activity; failure to achieve anticipated productivity improvements or production cost reductions, including those associated with our beverage can end project; the German mandatory deposit or other restrictive packaging laws; changes in major customer or supplier contracts or loss of a major customer or supplier; changes in foreign exchange rates, tax rates and activities of foreign subsidiaries; and the effect of LIFO accounting. Factors that might affect our aerospace segment include: funding, authorization, availability and returns of government contracts; and delays, extensions and technical uncertainties affecting segment contracts. Factors that might affect the company as a whole include those listed plus: acquisitions, joint ventures or divestitures; regulatory action or laws including tax, environmental and workplace safety; 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; reduced cash flow; interest rates affecting our debt; and changes to unaudited results due to statutory audits or other effects.
