Ball Corporation released a statement in response to reports that it was considering a sale of its aerospace business.

Reuters reported that Ball, the world’s largest supplier of beer cans, launched an auction process to sell its aerospace unit.

There is said to have been interest from BAE Systems and Textron, as well as private equity firm.

Its aerospace business is reported to be valued in the region of $5billion and any sale would help the company focus on its beverage packaging operations.

In response, a company statement read: “Ball Corporation announced that it is considering options that could better position its aerospace business to provide value to shareholders and customers.

“There is no certainty that any formal decision will be made. If and when appropriate, a further announcement will be made.”