BAE Systems to acquire Ball Aerospace for $5.6B
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Virginia-based BAE Systems Inc., which has a significant presence in northeast Indiana, announced plans Thursday to acquire the aerospace division of Ball Corp. in Colorado in a deal valued at nearly $5.6 billion.
BAE Systems CEO Tom Arseneault said the deal would advance the company’s position in some of the fastest growing segments of the defense market.
The acquisition is subject to regulatory approvals and is expected to close in the first half of 2024.
“Ball Aerospace’s world-class products, capabilities and deep customer relationships would enhance our existing portfolio in areas including space, C4ISR and missile systems,” Arseneault said in a news release. “We believe BAE Systems and Ball Aerospace share a culture of mission-driven innovation and operational excellence. We look forward to sustaining the historic legacy of Ball Aerospace and investing in its future.”
BAE Systems Inc. is the U.S. subsidiary of BAE Systems plc, headquartered in the United Kingdom. The company employs nearly 1,000 workers at a facility in Fort Wayne that focuses on electronic systems controls and avionics solutions for commercial and military customers.
The company said Ball Aerospace’s space-related programs account for about 70% of its $2.2 billion in revenues. The acquisition would “provide a robust platform for accelerating our space strategy,” BAE said.
Ball Corp. also has a storied history in Indiana.
The company was founded in 1880 by brothers Frank and Edmund Ball, who were later joined by their brothers William, Lucius and George before relocating the company to Muncie, where at one point, it could produce 240,000 glass jars per day.
Ball Aerospace, which was established in 1956 as the Ball Brothers Research Corp., does not have a presence in Indiana, though its parent company does maintain a beverage packing facility in Monticello, about 85 miles northwest of Indianapolis.