Ball Corporation stocks were rising 9.39 per cent to $76.68 on Thursday after the company reported mixed 2016 second-quarter results but provided a positive outlook based on its recent acquisition of Rexam.

Ball acquired London-based metal beverage can maker Rexam for $6.1 billion in cash and equity at the end of June. After the deal, Ball became the largest manufacturer of beverage cans in the world.

Commenting on the results, CEO John A. Hayes said, "Our strong second quarter results, the completion of legacy metal packaging growth projects, a robust aerospace backlog and the recent Rexam acquisition provide a very solid foundation for a multi-year, value-compounding growth period for our company and our shareholders."

"One month into the acquisition integration, business-related services and manufacturing operations are running smoothly," he added. He confirmed that the merging execution process is underway as expected.

Ball Corp is now focussing on developing a combined business plan following its acquisition of Rexam plc.  According to Hayes, the metal packaging company aims to increase its cash flow, bring down the net debt faster and be able to buy back its stock.

The company expects to see half of its expected $300 million plus transaction synergies in 2017, and aims to achieve more than $1 billion of free cash flow by 2019, Hayes said.

Ball’s global metal beverage business now operates 75 metal beverage can manufacturing facilities and joint ventures in North and Central America, Europe and Russia, South America, Asia and the Middle East.

The Brazil beverage can market for Ball remains flat and they are also eying the china market in near future, Hayes said. The middle class in Brazil needs to prosper in order to boost the can market.

It is to be noted that about a third of the total canned beverages available worldwide hit the market in aluminium containers made by Broomfield-based Ball Corp.

The world’s largest aluminium beverage can maker, caters to brands like Coca-Cola, AB, Pepsi, Red Bull, Minute Maid, Brisk, Redd’s, Rockstar and Twisted Tea.

In Golden plant, Ball’s manufacturing and storage operations span 500,000 square feet. The plant operates 24/7 and this year, it will produce cans for about 1,100 different products.

Ball is still a major player in manufacturing parts for weather satellites and space telescopes. They also produce aluminium bottles often seen in stadiums. Another environmental benefit of Ball to be noted here is that the plant uses 40 per cent less metal than it did in 1970, as the cans are getting lighter.

Other than the standard 12-ounce can, Balls makes more than 20 varieties of aluminium beverage containers. Specialty packaging makes up 30 per cent of the business. Ball has about 400 craft brewery customers, and that number is growing every day, Ball spokesman Scott McCarty said.