Hello, Guest!
  • Saturday, April 27, 2024

Report: Ball Launches Auction Process for Aerospace Business

Ball Corp. (NYSE: BALL) has begun exploring potential buyers of its estimated $5 billion aerospace business through an auction process, Reuters reported Friday.

The aerospace unit constituted 13 percent of the Westminster, Colorado-based company’s 2022 revenue and has drawn interest from Textron (NYSE: TXT), BAE Systems and other defense companies, according to the report.

Apart from aerospace components, the segment also provides sensors, antennas and other defense hardware and has become a key vendor in intelligence and national security programs, aerial exploration and Earth science, among other areas.

Shares at Ball jumped 7 percent in Friday’s afternoon trading session, activity that gave the manufacturing firm $18 billion in market capitalization.

Video of the Day

Related Articles

RTX Books $344M Standard Missile Production Contract Contract Awards

RTX Books $344M Standard Missile Production Contract

Raytheon, a subsidiary of RTX (NYSE: RTX), has received a $344 million contract to build and deliver two Standard Missile variants with a common guidance section to U.S. and international military customers. The company said Thursday it will produce the SM-2 Block IIICU and SM-6 Block IU missiles on a common production line for the

VTG Acquires Digital Transformation Services Provider Vana Solutions; John Hassoun Quoted M&A Activity

VTG Acquires Digital Transformation Services Provider Vana Solutions; John Hassoun Quoted

VTG has moved to expand its portfolio of digital transformation platforms and cloud services for defense and intelligence community customers through its acquisition of Vana Solutions. Vana Solutions is a Dayton, Ohio-based company founded by Srujal Sheth and Sunit Sheth in 2005 and is focused on delivering cloud services, advanced analytics, data fabric platforms and

Kristen McLeod Promoted to Calibre Systems EVP, CFO Executive Moves

Kristen McLeod Promoted to Calibre Systems EVP, CFO

Kristen McLeod, most recently senior vice president of finance and accounting and controller at Calibre Systems, has assumed the roles of executive VP and chief financial officer at the Alexandria, Virginia-based management consulting and digital transformation company. In this capacity, she will serve as a corporate officer and fiscal strategist and continue to offer insights