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CINCINNATI MILACRON CLOSES SUCCESSFUL STOCK OFFERING: 5.175 MILLION COMMON SHARES SOLD AT $20.50 PER SHARE

 CINCINNATI, April 15 /PRNewswire/ -- Cincinnati Milacron Inc. (NYSE: CMZ) today closed its public offering of 4.5 million shares of common stock. The company said that the underwriters had also exercised their option to purchase an additional 675,000 shares to cover over- allotments. All new shares were sold at $20.50 each. Gross proceeds from the sale were $106.1 million. After fees and commissions, net proceeds to the company totalled $101.4 million.
 "The successful offering will benefit Cincinnati Milacron considerably, both this year and in the long run," said Daniel J. Meyer, chairman and chief executive officer. "We'll use the proceeds to redeem $60 million of our 12 percent sinking fund debentures due 2010 and to pay down bank debt, some of which was incurred in our recent acquisition of Valenite," he explained.
 "These actions will lower our interest expense, strengthen our balance sheet and improve our financial flexibility for future growth opportunities," Meyer concluded.
 The First Boston Corporation was the lead manager, and Lazard Freres & Co. and J.P. Morgan Securities Inc. were the co-managers of the underwriting syndicate offering the stock to the public.
 Cincinnati Milacron Inc. is one of the world's leading manufacturers of machine tools, plastics machinery and industrial products for metalworking, as well as related computer controls and software for factory automation. Milacron now has approximately 32.9 million common shares outstanding.
 -0- 4/15/93
 /CONTACT: Albert Beaupre of Cincinnati Milacron, 513-841-7241/
 (CMZ)


CO: Cincinnati Milacron Inc. ST: Ohio IN: SU: OFR

TS -- NY087 -- 6317 04/15/93 13:51 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
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