Cincinnati Milacron Grows By Acquisition

Cincinnati Milacron Inc. started the month of August in the acquisition mode with purchases that expand its presence both inside the United States and in Asia. First the Cincinnati-based supplier to the metal-working and plastics-processing industries announced the acquisition of Manpo Chemicals Co., the fourth largest cutting fluid maker in Korea, in an all-cash transaction. Manpo has been distributing Milacron products since 1988 and began blending one of its fluids the following year. Cincinnati Milacron officials say benefits will include a reduction in the manufacturing and shipping costs of its products throughout Asia.

In a second announcement, the following day, the company reported that it would purchase the assets of Johnson Controls Inc.'s plastics machinery business, the largest U.S. producer of blow-molding systems, for about $210 million. The plastics machinery division contributes about $190 million in annual sales to Johnson Controls and employs 800 people worldwide.

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