Ball Aerospace capabilities. Photo: Ball Aerospace
BAE Systems in the coming days will close its $5.6 billion acquisition of Ball Aerospace after receiving all required regulatory approvals, the company said on Wednesday morning.
Ball Aerospace will operate within BAE Systems, Inc., the U.S. business of Britain’s BAE Systems, and will report as a new sector called Space & Mission Systems. Dave Kaufman, the current president of Ball Aerospace, will lead Space & Mission Systems.
Ball Aerospace is part of Ball Corp. The pending deal was first announced last August.
BAE said in August that Ball Aerospace was expected to generate $2.2 billion in sales in 2023. Ball on Feb. 1 reported $2 billion in sales last year for its aerospace business. BAE also expects the aerospace business to potentially reach $4 billion in sales by 2023 due to strong demand in the space, missiles, and munitions markets.
Ball Aerospace posted $219 million in operating earnings in 2023.
“This acquisition underpins our strategy to deliver growth and advance our technology and innovation portfolio in high priority areas identified in the U.S. National Defense Strategy and the U.S. Intelligence Strategy,” Tom Arsenault, president and CEO of BAE Systems, Inc., said in a statement.
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