News

Ball Corporation, the metal and plastic packaging firm, has reported a 9% fall in earnings before interest and tax to $175.6m (£) in the second quarter of 2008.

The company's second quarter net sales fell by 2% to $2.1bn, compared with £2bn in 2007.

Ball Corporation said that its second quarter earnings in European metal beverage packaging were $77.2m on sales of $571m, compared with $86.1m on sales of $484.8m a year ago.

Volumes in the metal beverage sector rose 7% over 2007 levels for the quarter despite cool, wet weather in much of eastern and central Europe and transport and customer strikes in France and Spain, it said.

The metal beverage sectors earnings for the first half of 2008 were $125.2m on sales of $976.6m, compared with $122.9m on sales of $805.5m in the first half of 2007.

John Hayes, executive vice president, said: "We are focused on margin management, reducing costs and balancing supply with demand on all of our packaging segments."

Ball Corporation has 12 production plants in Europe in the UK, Germany, the Netherlands and France.