BROOMFIELD, Col. (AP) -- Beverage and food products packaging maker Ball Corp. on Thursday said it increased its stake in a joint venture in Brazil by 10 percent.
The company said it now owns about 60 percent of Latapack-Ball Embalagens Ltda. The company operates metal beverage packaging plants in three Brazilian locations and is expected to have 2010 sales of about $360 million.
Ball Corp. has operated in Brazil for more than 15 years, Chairman and CEO R. David Hoover said. The impact of the increased stake on earnings will be limited this year, he said. Ball already reported 50 percent of the net income of the joint venture.
Shares of Ball Corp. closed Thursday trading up 17 cents at $58.88 and were unchanged after hours.
