Ball Corp. Sells Aerospace Business to BAE Systems for Record $5.6 Billion

Colorado-based Ball Corp. has agreed to sell its aerospace business to British company BAE Systems for $5.6 billion in cash. The deal, subject to regulatory approvals, is expected to close in the first half of 2024. The sale will allow Ball Corp. to reduce debt and focus on growing its global aluminum packaging businesses. Ball Aerospace, known for its contributions to space exploration, has about 5,200 employees and is expected to add over $2 billion in annual revenues to BAE Systems.