Ball Packaging Europe’s can-making plant in Serbia more than doubled net income last year on cost- cutting and an increase in output after an expansion.
Profit soared to as much as 7.5 million euros ($10 million) from 3 million euros in 2011 as production rose by two-thirds to 1.3 billion cans, General Manager David Banjai said in a phone interview, ahead of official results next month. The company, part of Ball Corp. (BLL:US), added a 35 million-euro can-making line at the factory near Belgrade in the second half of 2011.
This year’s production is expected to reach full capacity of 1.5 billion cans on new export markets, including Libya, where the plant plans to sell 300 million cans to a PepsiCo Inc. (PEP:US) bottler, Banjai said.
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