Milacron buying three plastics tooling and supply businesses
EOC Normalien and Reform Flachstahl will help Milacron, through its wholly-owned subsidiary D-M-E Company, improve its competitive position as a growing supplier of mold bases and related tooling for plastics injection molding in Europe. Progress Precision bolsters Milacron's presence, through its ExtrusionTek division, in the northeast United States and Canada.
"We're pleased to welcome the employees and customers of EOC Normalien, Reform Flachstahl and Progress Precision to the Milacron family," said Ronald D. Brown, Milacron president and chief operating officer. "These first-class operations hold great strategic value to Milacron. In Europe, we're solidifying and extending D-M-E's leadership position and, in North America, we're expanding our barrel and screw services business. These acquisitions will spur our growth in the steady, profitable areas of durable and consumable products for plastics processing," he said.
Combined the three units have annual sales of approximately U.S. $50 million. The purchase of Progress Precision has already been completed. Closings of the European transactions, pending necessary regulatory approvals, are likely to take place within a matter of weeks. No other terms, including purchase price, were disclosed.
"The acquisitions of EOC Normalien and Reform Flachstahl demonstrate our resolve to extend our leadership position around the world and they give us immediate entry into the Euro-Standard mold base market," said Harold J. Faig, Milacron group vice president – plastics technologies. "With these moves, we're getting two companies with strong brand
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names, broad European market coverage and significant technical know-how, along with three state-of-the-art manufacturing facilities. Progress Precision is an excellent addition to our already strong lines of barrels and screws and related value-added services in North America," he said.
The forward-looking statements above by their nature involve risks and uncertainties that could significantly impact operations, markets, products and expected results. For further information please refer to the Cautionary Statement included in Milacron's Annual Report on Form 10-K on file with the Securities and Exchange Commission.
Headquartered in Lüdenscheid, EOC Normalien is a large German producer of mold bases, components and die sets, with manufacturing facilities in its home city and in Mahlberg, Germany. The company has approximately 200 employees and has been a division of Anchor Lamina, Inc. of Windsor, Ontario, since 1994. As a supplier of custom and standard products for the mold making and tool and die industries for more than 50 years, EOC Normalien brings a loyal customer base, with a strong reputation for quality and technical support. Specific product lines include standard and custom mold bases, hot runner systems, temperature controllers, leader pins and bushings, ejector pins and sleeves, blades, die sets and cams. Milacron's acquisition does not include EOC's large die set and steel processing operations in Chemintz, Germany.
Reform Flachstahl is a privately held German manufacturer of mold bases and plates headquartered in Fulda, Germany. Founded in 1975, it has approximately 100 employees and manufactures high quality Euro-Standard mold bases, as well as components, cooling products and tools for molds and mold making. Reform Flachstahl has an excellent reputation for quality and customer support.
Established 25 years ago, Progress Precision was the first plastics machinery screw manufacturer in Canada and is known for its precision, state-of-the-art machining of all types of screws for extrusion, injection and blow molding. Product lines include single screws, parallel and conical twin screws and segmented screws in all size ranges up to 25 feet long and 15 inches in diameter.
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With 2000 sales of U.S. $1.6 billion, Milacron Inc. (NYSE: MZ) is a world leader in plastics processing and metalworking technologies with major manufacturing facilities in North America, Europe and Asia and 10,500 employees worldwide. Plastics technologies include injection molding machines, blow molding equipment, extrusion systems and wear items, mold bases, mold-making equipment and mold components, as well as aftermarket and MRO (maintenance, repair and operating) parts and services. Metalworking technologies include carbide metalcutting inserts, tool holders, carbide and high-speed steel round tools, metalworking fluids, chemical and tool management services, precision grinding wheels, and carbide die and wear parts.
For further information, visit the company's web site, www.milacron.com, or call the toll-free investor hot line: 800-909-MILA (800-909-6452).
Source: Milacron Inc.