BALL CORP PRESS RELEASE
Ball Corporation will record an after-tax gain of approximately $31 million, or approximately 32 cents per diluted share, and realize cash proceeds of approximately $37 million in the company’s second quarter results on the sale of 75 percent of its shares of DigitalGlobe stock.
DigitalGlobe, which completed an initial public offering of its stock today, was formed in 1995 as EarthWatch, Inc., by Ball Aerospace & Technologies Corp. and WorldView Imaging Corporation. EarthWatch changed its name to DigitalGlobe in 2002.
“As a founder and shareholder of DigitalGlobe and the supplier of the spacecraft and instruments for its two orbiting remote sensing satellites, we are pleased with the company’s successful public offering,” said R. David Hoover, Ball’s chairman, president and chief executive officer. “We look forward to the successful launch and commissioning later this year of the DigitalGlobe WorldView-2 satellite, which Ball Aerospace also built.”
Ball still owns approximately 700,000 shares of DigitalGlobe and remains a minority shareholder.
Ball Corporation is a supplier of high-quality metal and plastic packaging for beverage, food and household products customers, and of aerospace and other technologies and services, primarily for the U.S. government. Ball Corporation and its subsidiaries employ more than 14,000 people worldwide and reported 2008 sales of approximately $7.6 billion. For the latest Ball news and for other company information, please visit www.ball.com.