Ball Corporation
BA L L C O R P O R A T I O N is a leading global supplier of innovative, sustainable
metal packaging for beverages, food and household products, and of aerospace
and other technologies and services for commercial and governmental customers.
Founded in 1880, the company employs 18,300 people worldwide. Ball Corporation
stock is traded on the New York Stock Exchange under the ticker symbol BLL.
Please visit Ball’s Investor Center at www.ball.com/investors to view the 2017 online annual report. Where you
see this information icon in our report, you can find additional information on that topic at www.ball.com.
D R I V E F O R 1 0
Drive for 10 is a mindset around perfection, with a greater sense of urgency
around our future success. Drive for 10 has three major areas of focus:
WE KNOW
WHO W E AR E
WE KNOW
WHERE WE ARE GOING
WE KNOW
WHAT IS IMPORTANT
Proud of our rich history, we recognize
the whole of our company is greater
than the sum of its parts.
Most importantly, we believe in our
people, our culture and our ability to
deliver value to all our stakeholders.
Though we encourage and embrace
our diversity of thought, business,
location and language, we are
“One Ball,” valuing:
UNCOMPROMISING
INTEGRITY
BEING CLOSE TO
OUR CUSTOMERS
BEHAVING LIKE OWNERS
FOCUSING ON ATTENTION
TO DETAIL
BEING INNOVATIVE
We want to be the best at everything
we do, and will continually strive for
perfection at Ball as we pursue our
strategy of:
MAXIMIZING value in our
existing businesses
EXPANDING into new products
and capabilities
ALIGNING ourselves with the
right customers and markets
BROADENING our
geographic reach
LEVERAGING our know-how and
technological expertise to provide
a competitive advantage
In order to reach our goals, we must
excel in these areas:
CUSTOMER FOCUS
We must be viewed as a
strategic partner with each
of our key customers.
OPERATIONAL EXCELLENCE
We must be the most competitive
in terms of cost, quality and service
in all the markets in which we
compete by continually driving for
efficiencies in all our processes.
INNOVATION AND
BUSINESS DEVELOPMENT
We must identify and drive
profitable growth.
PEOPLE AND CULTURE FOCUS
We must have the best people,
providing them with the right
support, rewards and growth
opportunities to thrive.
SUSTAINABILITY
We must balance our economic,
environmental and social impacts
for greater long-term success.
B A L L C O R P O R A T I O N
D E A R F E L LOW
S H A R E H O L D E R S
In 2017, Ball Corporation had another strong year,
thanks to our 18,300 employees around the world.
By staying true to our culture, Drive for 10 vision and
disciplined EVA® (economic value added) approach,
we embraced the unique opportunities in each of
our businesses and overcame challenges to deliver
significantly higher comparable operating earnings,
diluted earnings per share and free cash flow.
Throughout the year, we executed our plan and
delivered results with which we were pleased, but not
surprised, including comparable EBITDA of $1.75 billion
versus $1.36 billion in 2016, comparable net earnings
attributable to the company of $728 million versus
JOHN A. HAYES
Chairman, President
& Chief Executive Officer
Aligning ourselves with the right customers
$563 million in 2016, and comparable full-year diluted
and markets
earnings per share of $2.04 in 2017 versus $1.74 in
2016. We also generated more than $920 million of
free cash flow after investing approximately $350 million
of our $550 million of total capital expenditures in EVA-
generating growth capital projects that position us well
for the future. While these comparisons are somewhat
distorted due to the Rexam acquisition’s mid-2016
closing, we achieved or exceeded the 2017 targets
we set for ourselves upon closing of the acquisition.
Broadening our geographic reach
Leveraging our know-how and technological
expertise to provide a competitive advantage
MAXIMIZING VALUE IN OUR EXISTING BUSINESSES
We continue to transform all of our businesses to
leverage the diverse opportunities in front of us.
We took numerous steps toward this transformation
in 2017 and are confident we are making positive
When we started our Drive for 10 journey in late 2010,
long-term impacts on our organization.
we faced an evolving landscape in which our customers,
suppliers, markets, consumers and technologies were
changing at a much faster pace than during the prior
decade. To keep up with this change, we determined
that we needed to move with a greater sense of urgency
to be successful for another 135-plus years. Eight years
later, our Drive for 10 vision is more relevant than ever.
In 2017, we continued to execute, and stayed true to
our “where we are going” levers:
Maximizing value in our existing businesses
Expanding into new products and capabilities
In our global metal beverage container business, we
made significant progress toward truly transforming the
way we work and realizing the financial and strategic
benefits of the Rexam acquisition; making the beverage
can the most sustainable package in the supply chain;
and ensuring customers and consumers continue
to prefer cans over other packaging types. Despite
some political, economic and weather-related volatility
around the world, we remained focused on the things
we could control—instilling and further reinforcing our
EVA mindset among all new and existing employees,
2 0 1 7 A N N U A L R E P O R T
01
A E R O S P A C E
In April, we broke ground on a 145,000-square-foot
expansion of our Aerospace Manufacturing Center
(AMC) in Westminster, Colorado, which will enhance
our manufacturing and production capabilities so we
can keep pace with our projected growth and meet
ongoing customer needs, as well as maintain our
competitive advantage in the aerospace industry.
reducing our general and administrative (G&A)
Our aerospace business continued to win in the
footprint, streamlining processes and systems to further
marketplace with a variety of program and contract
lower our G&A cost structure, executing our sourcing
wins, and finished the year with a record $1.75 billion
synergy plans, and aligning our global plant network to
backlog, thereby sustaining its multi-year growth curve
optimize costs and ensure the appropriate supply of our
with numerous outstanding requests for bids and
various beverage can sizes and shapes to meet market
proposals in the pipeline to help fuel future growth.
As we strive to make the aluminum beverage container
the most sustainable choice in the value chain from
an economic, environmental and social standpoint,
sustainability remains a top priority. In June, we
announced our major achievements and progress
toward our sustainability priorities—product stewardship,
operational excellence, talent management and
community ambassadors—and ambitious 2020 goals.
demand requirements. We continued our global finance
transformation projects and cost-out initiatives with the
opening of shared service centers in Belgrade, Serbia,
and Querétaro, Mexico. We ceased production in our
Reidsville, North Carolina, and Recklinghausen,
Germany, beverage can plants, and announced the
closures of three additional U.S. beverage can plants
to tighten 12-ounce beverage can capacity.
In our food and aerosol business, we invested to
accelerate profitable growth in aerosol while maximizing
value in our food can business by reducing costs,
improving manufacturing efficiencies and making the
best use of our free cash flow. We celebrated openings
for new aluminum aerosol lines in Ahmedabad, India,
and Velim, Czech Republic. We also transitioned our
North American tinplate flat sheet service center to
Canton, Ohio; sold our paint and general line can
plant in Hubbard, Ohio; and tightened food can
capacity in the U.S.
02
B A L L C O R P O R A T I O N
This May, we will release our 2018 sustainability report
with updated data and additional progress toward our
goals. As part of this, we have aligned our plants and
employees to further enhance the sustainability profile
of our organization, our processes and our products.
Because our long-term success also depends on our
ability to have “the best” in terms of people and their
creativity, we continue to make deliberate and intentional
strides to further drive a more inclusive culture and
diverse workforce. In 2017, for the third consecutive
year, we received a perfect score on the Corporate
Equality Index, a national benchmarking survey and
report on corporate policies and practices related to
lesbian, gay, bisexual, transgender and queer workplace
equality, administered by the Human Rights Campaign
Foundation. We also have increased the diversity of our
U.S. workforce from 40 to 45 percent over the past two
years, while increasing the diversity of our management
from 36 to 42 percent during that same time frame.
EXPANDING INTO NEW PRODUCTS
AND CAPABILITIES
The end markets around us are always changing,
and we must be the most responsive and flexible
in developing solutions to our customers’ challenges
to help them be successful. At Ball, we are constantly
looking ahead.
As customers shift to 100 percent and infinitely
recyclable aluminum cans from less sustainable
substrates, demand for beverage cans—particularly
specialty beverage cans—is growing around the
world. As a result, our specialty can volumes represent
more than 35 percent of our global units sold versus
30 percent in 2016.
In our aerosol business, we upheld our commitment to
innovation and our customers and industry took note,
with our aluminum aerosol cans earning several
awards for innovation and packaging design for our
ReAl®, Tactile and 360-degree can technologies.
S U S TA I NA BI L I T Y
For the fifth consecutive year,
Ball was listed on the Dow Jones
Sustainability Index World (DJSI
World) and Dow Jones Sustainability
Index North America (DJSI NA) as the
industry leader among container and
packaging companies. We also were
selected as a member of the Euronext
Vigeo US 50 index, made up of the
50 most advanced U.S. companies
in the areas of environmental, social
and governance performance, and
the Euronext Vigeo World 120 index,
which lists the 120 most advanced
companies from Europe, North
America and Asia Pacific for their
corporate responsibility performance.
2 0 1 7 A N N U A L R E P O R T
03
BE V E R AGE CA NS
Consumer preferences continue to move toward imported beer, craft
beer, wine, energy drinks and sparkling water. On-premise and on-shelf
differentiation remain important as brands compete for consumer attention
and strive to grow their profit pools. With our industry-leading portfolio
of can and bottle sizes, innovative technologies and attention-grabbing
graphics, as well as our scale and footprint, we can deliver what
customers need when and where they need it.
Our aerospace business is leveraging its design,
We have made significant progress in aligning our
development and manufacturing expertise in a
global beverage business with these needs and, with the
variety of areas to ensure that the U.S. and its allies
growth of our product portfolio, leveraging our global
have the most innovative, yet affordable intelligence,
innovation efforts, dedicated global and regional key
surveillance and reconnaissance capabilities, from
account teams, and commitment to ongoing operational
real-time information for war fighters or longer-term
and sustainability improvements, we are positioned for
capabilities that keep our nation safe and secure.
future success.
Additionally, our phased array antennas for
commercial space, aerospace and defense are
utilized by customers in various ways, including,
but not limited to, securing communications and
developing new commercial data networks for
the world’s ever-increasing data needs.
ALIGNING OURSELVES WITH THE
RIGHT CUSTOMERS AND MARKETS
Whether global or local, our beverage customers
expect us to deliver solutions and services so they
can profitably grow their businesses. To build upon
the success we have had over the years, we must
anticipate their needs, identify new markets and
opportunities for growth, and deliver problem-
solving solutions, whether a new price point
for a specific convenience channel product or
expanding distribution channels for new products.
In our aluminum aerosol
business, our innovative ReAl®
technology, which increases
the strength of aluminum
used in the manufacturing
process while lightweighting
the can by 15 percent over a
standard aluminum aerosol can,
provides the ideal solution for
customers who are committed to
sustainability and moving toward
a more circular economy. In
2017, we partnered with Unilever
to bring a more sustainable
aluminum aerosol can to market
for the Rexona® and Sure®
antiperspirant brands.
04
B A L L C O R P O R A T I O N
Vietnam. In early 2018, we announced the construction
of a new beverage can facility in Paraguay.
The aluminum aerosol market continues to grow
in Europe, India and Mexico, and our additional
capacity investments in those areas and extensive
product portfolio will allow us to better meet the
increased demand.
LEVERAGING OUR KNOW-HOW
AND TECHNOLOGICAL EXPERTISE
In all of our businesses, our employees have a
wealth of knowledge and experience that is a true
differentiator. When combined with the data and
numerous technologies now available to us, this
know-how and expertise is incredibly powerful,
particularly in our larger, more global organization.
In our beverage business, this expertise combined
with our industry-leading can and bottle portfolio,
virtually limitless printing and graphic capabilities,
ends and other technologies, brings us closer to our
goal of delivering anything, anytime, anywhere for
our increasingly diverse customer base. We also
are utilizing our data analytics capabilities to help
transform the way our products are made by speeding
up existing processes, redesigning new processes,
conducting predictive maintenance, and utilizing
In November, NOAA’s Joint Polar Satellite System-1
(JPSS-1) successfully launched from Vandenberg
Air Force Base in California. JPSS-1 is one of the
most advanced environmental systems ever created.
The information collected from its next-generation
suite of instruments provides global observations for
U.S. weather and environmental predictions to help
protect lives, property and our planet.
BROADENING OUR GEOGRAPHIC REACH
We continue to align our businesses with the ever-
evolving marketplace and shifting customer expectations
analytics in other ways previously unavailable to us.
so we can deliver the benefits of our size, scale, expertise
and capabilities to customers around the world to
achieve profitable growth.
In 2017, we announced the construction of new
In our aerosol business, we are manufacturing
increasingly intricate shapes and leveraging significant
technical experience from our beverage business to
print using tactile ink for greater consumer interaction
beverage container manufacturing plants just outside
with the package.
Phoenix, Arizona, and Madrid, Spain, to ensure we are
close to customers and have the right product mix to
meet market needs. To meet growing demand in other
areas around the world, we also have made further
investments to expand our facilities in Argentina, Texas
and Mexico, and in our joint ventures in Panama and
In November, the U.S. Air Force’s Space and Missile
Systems Center selected our aerospace business
to deliver the next-generation operational environmental
satellite system. This new environmental satellite system
will be based on the Ball Configurable Platform, a proven,
agile spacecraft with 50 years of on-orbit operations for
affordable remote sensing applications.
2 0 1 7 A N N U A L R E P O R T
05
Across Ball, we also continually apply our expertise to drive
operational efficiencies, maintain a safer and healthier work
environment, and improve the sustainability profile of our
business and our products.
DRIVING LONG-TERM SUCCESS
When we began our Drive for 10 journey, we committed
to strive for perfection with a greater sense of urgency.
We also had aspirations to double the amount of EVA
dollars generated over the next decade while growing
our comparable earnings per share to $2.50 per share
(split adjusted). We are 70 percent of the way through
this decade, and we are on—or above—our expectations.
However, significant opportunities remain across our
organization, and we must continue to pursue them with
a sense of urgency and a can-do attitude. We have a clear
line of sight to all of the synergies we identified when we
announced the Rexam transaction, and are well on our
way to achieving our 2019 goals of $2 billion of comparable
EBITDA and free cash flow in excess of $1 billion.
With Ball’s unique value-creation formula—the combination
of our culture, Drive for 10 vision, EVA discipline, exceptional
team, and unmatched product and service portfolio—we will
persist in making the can the most sustainable package in
the packaging supply chain, and leveraging our aerospace
technologies for continued long-term earnings and free cash
flow growth.
Best regards,
JOHN A. HAYES
Chairman, President
& Chief Executive Officer
B E V E R A G E I N V E S T M E N T
In August, we announced the
construction of a new, state-of-the-art
specialty beverage packaging facility
in Goodyear, Arizona, to serve growing
customer demand for specialty cans
in the southwestern U.S. Construction
also continued on a two-line beverage
can manufacturing facility near
Madrid, Spain, to serve one of the
fastest growing beer markets in
Europe. Both facilities will begin
production in mid-2018.
06
B A L L C O R P O R A T I O N
2 0 1 7 F I V E - Y E A R R E V I E W O F S E L E C T E D F I N A N C I A L D A T A
BALL CORPORATION AND SUBSIDIARIES
($ in millions, except per share amounts)
Net Sales
Earnings before interest and taxes (EBIT)
Total interest expense
Earnings before taxes
Net earnings attributable to Ball Corporation from:
Continuing operations (a)
Discontinued operations
Total net earnings attributable to Ball Corporation (a)
Basic earnings per share: (c)
Basic—continuing operations (a)
Basic—discontinued operations
Basic earnings per share (a)
Weighted average common shares outstanding (000s) (c)
Diluted earnings per share: (c)
Diluted—continuing operations (a)
Diluted—discontinued operations
Diluted earnings per share (a)
Diluted weighted average common shares outstanding (000s) (c)
Total assets
Total interest bearing debt and capital lease obligations
Cash dividends per share (c)
Total cash provided by operating activities
Non-GAAP Measures (b)
Comparable operating earnings
Comparable net earnings
Diluted earnings per share (comparable basis) (c)
Free cash fl ow
EVA dollars (d)
$
$
$
$
$
$
$
$
$
$
$
2017
2016
2015
2014
2013
10,983
802
(288 )
$
$
9,061
463
(338 )
$
$
$
$
7,997
606
(260 )
8,570
839
(193 )
$
$
8,468
795
(212 )
514
$
125
$
346
$
646
$
583
374
$
263
$
281
$
470
$
406
—
—
—
—
1
374
$
263
$
281
$
470
$
407
1.07
$
0.83
$
1.02
$
1.70
$
1.39
—
—
—
—
—
1.07
$
0.83
$
1.02
$
1.70
$
1.39
350,269
316,542
274,600
277,016
291,886
1.05
$
0.81
$
1.00
$
1.65
$
1.36
—
—
—
—
—
1.05
$
0.81
$
1.00
$
1.65
$
1.36
356,985
322,884
281,968
284,860
298,446
17,169
$ 16,173
6,971
0.365
1,478
$
7,532
0.26
194
$
$
9,697
5,051
0.26
1,007
$
$
7,535
3,133
0.26
1,012
$
$
7,774
3,559
$
1,220
$
976
$
801
$
920
$
728
2.04
922
240
563
1.74
(412 )
199
490
1.74
479
181
553
1.94
621
191
0.26
839
874
490
1.64
461
149
Total annual return to common shareholders (e)
1.8 %
4.0 %
7.5 %
33.1 %
16.8 %
(a) Includes business consolidation and other activities and other items affecting comparability between years. Additional details about the 2017, 2016 and 2015
items are available in Note 5 to the consolidated fi nancial statements within Item 8 of the Annual Report on Form 10-K.
(b) Non-U.S. GAAP measures should not be considered in isolation and should not be considered superior to, or a substitute for, fi nancial measures calculated
in accordance with U.S. GAAP. Further discussion of non-GAAP fi nancial measures is available in Item 7 of the Annual Report on Form 10-K .
(c) Amounts in 2016, 2015, 2014 and 2013 have been retrospectively adjusted for the 2-for-1 stock split that was effective on May 16, 2017.
(d) Net operating earnings after tax less a capital charge of 9% after-tax on average invested capital employed.
(e) Change in stock price plus dividends paid, assuming reinvestment of all dividends paid. Information for this calculation is included in the shareholder return
performance chart in Item 5 of the Annual Report on Form 10-K.
2 0 1 7 A N N U A L R E P O R T
07
D I R E CTO R S
ROBERT W. ALSPAUGH
MICHAEL J. CAVE
HANNO C. FIEDLER
Retired CEO of KPMG
International1,2
Retired Senior Vice President
of The Boeing Company1,2
Retired Chairman and CEO
of Ball Packaging Europe1,4
DANIEL J. HEINRICH
R. DAVID HOOVER
JOHN A. HAYES
Former Executive Vice
President and CFO of
The Clorox Company1,4
Former Chairman, President
and CEO of Ball Corporation2
Chairman, President
and CEO of Ball Corporation
PEDRO HENRIQIE MARIANI
GEORGIA R. NELSON
CYNTHIA A. NIEKAMP
Chairman of the Board
of Banco BBM 2
President and CEO
of PTI Resources, LLC3,4
Retired Senior Vice President
of PPG Industries, Inc.2,3
CATHY D. ROSS
GEORGE M. SMART
THEODORE M. SOLSO*
Former Executive Vice President
and CFO of FedEx Express1,4
Retired President
of Sonoco-Phoenix, Inc.3,4
Former Chairman and CEO
of Cummins Inc.3,4
STUART A. TAYLOR II
COMMITTEES
CEO of The Taylor Group, LLC1,3
2 Fi n a n c e
1 A u d i t
4 N o m i n at i n g / Co r p o rat e G o v e r n a n c e
* Le a d I n d e p e n d e n t D i re c t o r
3 H u m a n Re s o u rc e s
C O R P O R AT E & O P E R AT I N G M A N AG E M E N T
G I H A N A T A P A T T U
President, Beverage Packaging Asia Pacific
J O H N A . H A Y E S
Chairman, President and CEO
C H A R L E S E . B A K E R
Vice President, General Counsel
and Corporate Secretary
N A T E C . C A R E Y
Vice President and Controller
A N T H O N Y B A R N E T T
President, Beverage Packaging
Africa, Middle East and Asia
M . A N D R E W C R O U C H
Vice President, Technology
J E F F R E Y A . K N O B E L
Vice President and Treasurer
C A R L O S M E D E I R O S
President, Beverage Packaging
North and Central America
S C O T T C . M O R R I S O N
Senior Vice President and CFO
L I S A A . P A U L E Y
Senior Vice President, Human Resources
and Administration
D A N I E L W . F I S H E R
Senior Vice President, Ball Corporation;
COO, Global Metal Beverage Packaging
J A M E S N . P E T E R S O N
Senior Vice President, Ball Corporation;
COO, Food and Aerosol Packaging
C O L I N J . G I L L I S
President, Beverage Packaging Europe
C A R L O S P I R E S
President, Beverage Packaging
South America
K A T H L E E N E . P I T R E
Vice President, Communications
and Corporate Relations
D A N I E L J . R A B B I T T
Vice President, Corporate Planning
and Development
M A N E T T E A . S N O W
Vice President, Diversity and Inclusion
R O B E R T D . S T R A I N
Senior Vice President, Ball Corporation;
President, Ball Aerospace
08
B A L L C O R P O R A T I O N
2 0 1 7 S H A R E H O L D E R I N FO R M AT I O N
QUARTERLY STOCK PRICES AND DIVIDENDS
Quarterly prices for the company’s common stock,
as reported on the composite tape, and quarterly
dividends in 2017 and 2016 were:
2017
4th Quarter
3rd Quarter 2nd Quarter 1st Quarter
ANNUAL MEETING
High
$ 43.24
$ 43.06
$ 42.73
$ 38.68
Low
$ 37.36
$ 38.79
$ 35.65
$ 36.00
Dividends
per share
$
0.10
$
0.10
$
0.10
$ 0.065
2016
4th Quarter
3rd Quarter 2nd Quarter 1st Quarter
High
$ 41.07
$ 41.12
$ 38.35
$ 36.50
Low
$ 36.22
$ 34.34
$ 33.76
$ 31.15
Dividends
per share
$ 0.065
$ 0.065
$ 0.065
$ 0.065
Amounts in the first and second quarters of 2017 and all quarters of
2016 have been adjusted to reflect a two-for-one stock split which was
effective May 16, 2017.
QUARTERLY RESULTS, COMPANY INFORMATION
AND INVESTOR RELATIONS
Quarterly financial information and company news are posted
on www.ball.com/investors.
For investor relations call (303) 460-3537.
PURCHASE PLAN
A dividend reinvestment and voluntary stock purchase
plan for Ball Corporation shareholders permits purchase
of the company’s common stock without payment of a
brokerage commission. Participants in this plan may have
cash dividends on their shares automatically reinvested
and, if they choose, invest by making optional cash
payments. Additional information on the plan is available
by writing Computershare, Dividend Reinvestment
Service, P.O. Box 505000, Louisville, KY 40233-5000. The
toll-free number is (800) 446-2617, and the website is
www.computershare.com/investor. You can access your
Ball Corporation common stock account information on the
Internet 24 hours a day, 7 days a week through Computershare’s
website. If you need assistance, please call Computershare at
(800) 446-2617 between 8 a.m. and 5 p.m. Eastern time.
The annual meeting of Ball Corporation shareholders
will be held to tabulate the votes cast and to report
the results of voting on the matters listed in the proxy
statement sent to all shareholders. No other business
and no presentations are planned. The meeting to
report voting results will be held on Wednesday,
April 25, 2018, at 7:30 a.m. Mountain time at Ball
Corporation headquarters in Broomfield, Colorado.
ANNUAL REPORT ON FORM 10-K
The Annual Report on Form 10-K for 2017 filed by the
company with the United States Securities and Exchange
Commission is enclosed.
CERTIFICATIONS
The company has filed with the New York Stock Exchange
the chief executive officer’s annual certification regarding
compliance with the NYSE’s corporate governance listing
standards. The company also has filed with the United
States Securities and Exchange Commission all required
certifications by its chief executive officer and its chief
financial officer regarding the quality of the company’s
public disclosures.
TRANSFER AGENT AND REGISTRAR
Computershare
P.O. Box 505000
Louisville, KY 40233-5000
SUSTAINABILITY
Ball Corporation balances economic, environmental and
social aspects in its decision making and activities to
create value for its stakeholders and to contribute to its
Drive for 10 vision. Find out more about our sustainability
strategy at www.ball.com/sustainability.
EQUAL OPPORTUNITY
Ball Corporation is an equal opportunity employer.
This Summary Annual Report should be read in conjunction with the audited consolidated financial statements
and other information contained in Ball Corporation’s Annual Report on Form 10-K for 2017, which is being
furnished with the company’s Proxy Statement for the 2018 Annual Meeting of Shareholders. Copyright© Ball
Corporation 2018. Ball and
are trademarks of Ball Corporation Reg. U.S. Pat. & Tm. Office.
2 0 1 7 A N N U A L R E P O R T
10 Longs Peak Drive
Broomfi eld, CO 80021 USA
+1.303.469.3131
www.ball.com