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Ball's CEO Discusses Q1 2012 Results - Earnings Call Transcript

In a moment, Scott will discuss our financial results for the quarter. Ray will follow with details about our Packaging operating performance, and I will close with comments on Aerospace and the outlook for the remainder of 2012. Ball reported improved comparable first quarter 2012 results during the seasonally slow first quarter. Recall that we have mentioned in January that our first half of the year will be relatively flat as compared to 2011, and we performed slightly better than we expected. Maximizing the value and performance of our existing businesses is one of the strategic levers of our Drive for 10 strategy, and our people and our business are executing well in this environment.

The other levers of Drive for 10 include broadening our geographic reach, expanding in the new products and capabilities, aligning ourselves with the right customers and markets, and leveraging our technology expertise to create a competitive advantage. We're making good progress in all of these. And several highlights include: completing the construction of our previously announced capital projects in Qingdao, China; Alagoinhas, Brazil; and Ho Chi Minh City, Vietnam, further broadening our geographic reach; increasing the production and sales of our specialty can product portfolio in North America, which grew approximately 20% due to expanding volume in the 7.5 ounce, 16 ounce in Alumi-Tek product categories; leveraging our technological expertise by announcing our ReAl can technology and innovation and sustainability breakthrough in our extruded aluminum impacting business. ReAl enables significant light weighting of aluminum aerosol container, while utilizing aluminum from our beverage can plants in the manufacturing process to add up to 25% recycled content into aluminum aerosol containers.

And finally, we've been working hard on our third sustainability report, which will be out at the end of May. Sustainability is an important part of our Drive for 10 and plays a key role in both maximizing the value our existing businesses and leveraging our technology. Our new report will provide detail on our progress since 2010 as well as our future goals and objectives. You'll hear more examples of our Drive for 10 progress from Scott and Ray. There's a lot going on here at Ball. And while it's still early in the year, 2012 is off to a nice start.

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