BROOMFIELD – Ball Corp. (NYSE:BLL) plans to close its Brampton, Ontario plastics plant by the end of September, the company announced today.
The Broomfield-based company expects by closing the plant, which employs about 90 people, it will save approximately $4 million annually, according to a company press release. Employees will receive severance and outplacement services.
Initially, closing the plant is thought to cost the company about $5 million. They expect $2 million of that will be recorded in the second quarter of 2008 with the rest in the second half of the year, the press release states.
Ball acquired the Brampton plant, which makes plastic food bottles, in 2006 and the production will be absorbed into other North American locations.