Damage to the largest manufacturer of aluminum cans Ball Corporation due to leaving the Russian market amounted to 435 million dollars. This is stated in report American company for the second quarter of this year.
“Ball has suspended investments in Russia and is engaged in the sale of a local aluminum beverage packaging business. As a result, the company performed an expected recoverability analysis of cash flows to assess the fair value of long-term assets and recorded an impairment loss of $435 million,” — indicated in the message.
The company noted that last year the Russian market accounted for about 4% of all net revenue and 8% of all operating profit. In Russia, Ball owns three factories for the production of aluminum cans – in the Moscow, Leningrad and Chelyabinsk regions. In the fall of 2021, the company began construction of the fourth plant in Ulyanovsk. In March, Ball announced plans to sell its business in Russia.
Previously, Life told how much OBI sold the business in Russia. According to the Vedomosti newspaper, the German company has sold six legal entities to the Russian chain of OBI DIY stores to a group of Russian investors.