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Consumer Discretionary : Hotels, Restaurants & Leisure | Large Cap Blend
Company profile

Starbucks Corp is a coffee roaster and retailer of specialty coffee with operations in approximately 82 markets around the world. The Company has over 32,000 Company-operated and licensed stores. It operates through three segments: Americas, International and Channel Development. It also sells a variety of coffee and tea products and license its trademarks through other channels, such as licensed stores, grocery and foodservice. It purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of food items through Company-operated stores. In addition to its flagship Starbucks Coffee brand, it sells goods and services under various brands, including Teavana, Seattle’s Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve and Princi.

Closing Price
$86.96
Day's Change
-1.34 (-1.52%)
Bid
--
Ask
--
B/A Size
--
Day's High
88.39
Day's Low
85.63
Volume
(Heavy Day)
Volume:
11,402,795

10-day average volume:
7,054,138
11,402,795

Ball Announces New U.S. Beverage Can Plant in Pittston, Pennsylvania; Production Scheduled to Begin in Mid-2021

11:12 am ET September 2, 2020 (PR Newswire) Print

Ball Corporation (NYSE: BLL) today announced its plan to build a new U.S. aluminum beverage packaging plant in Pittston, Pennsylvania. The multi-line plant is scheduled to begin production in mid-2021 and will create approximately 230 manufacturing jobs.

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"Our new Pittston plant is Ball's latest investment to serve accelerating demand for our portfolio of infinitely recyclable aluminum containers used in the sparkling water, spiked seltzer, beer and carbonated beverage categories," said Daniel W. Fisher, COO, global beverage packaging. "Pittston will join our industry-leading network of more than 20 North American plants, including a new plant currently under construction in Glendale, Arizona, that is scheduled to start up early in the first quarter of 2021. These investments, supported by numerous long-term customer contracts, will enable us to serve customer and consumer needs for more sustainable beverage packaging while furthering our Drive for 10 vision for long-term success."

Ball plans to make an initial investment of more than $300 million in its Pittston facility over multiple years. The plant will supply customers with a portfolio of can sizes to serve the addressable market.

Ball chose Pittston for its new facility because of the existing infrastructure, proximity to main distribution routes, regional labor base, the cooperation of state and local officials during the site selection process and Pennsylvania's focus on sustainable growth. Infinitely recyclable and economically valuable, Ball's aluminum cans, bottles and cups enable a truly circular economy in which materials can be and actually are used again and again. In fact, 75 percent of all aluminum ever produced is still in use today.

For more information about job opportunities at Ball's planned Pittston plant or at other Ball locations, visit Ball's careers site.

About Ball CorporationBall Corporation (NYSE: BLL) supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ more than 18,300 people worldwide and reported 2019 net sales of $11.5 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.

Forward-Looking StatementsThis release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates," "believes," "targets," "likely," "positions" 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 any such statements 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; availability/cost of raw materials and logistics; competitive packaging, pricing and substitution; changes in climate and weather; footprint adjustments and other manufacturing changes, including the start up of new facilities and lines; failure to achieve synergies, productivity improvements or cost reductions; mandatory deposit or other restrictive packaging laws; customer and supplier consolidation; power and supply chain interruptions, including due to virus and disease outbreaks; potential delays and tariffs related to the U.K's departure from the EU; changes in major customer or supplier contracts or a loss of a major customer or supplier; political instability and sanctions; currency controls; 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 affecting goods produced by us or in our supply chain, including imported raw materials, such as those related to COVID-19 and those pursuant to Section 232 of the U.S. Trade Expansion Act of 1962 or Section 301 of Trade Act of 1974; 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 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 action or issues including tax, 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 and the success of information technology initiatives; litigation; strikes; disease; pandemic; labor cost changes; rates of return on assets of the company's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies both in the U.S. and in other countries, including policies, orders and actions related to COVID-19, the U.S. government elections, budget, sequestration and debt limit; reduced cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, and their effects on our operating results and business generally.

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View original content:http://www.prnewswire.com/news-releases/ball-announces-new-us--beverage-can-plant-in-pittston-pennsylvania-production-scheduled-to-begin-in-mid-2021-301123105.html

SOURCE Ball Corporation

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