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MILACRON CONFIRMS LOSS IN THIRD QUARTER DUE TO $94 MILLION IN NON-RECURRING CHARGES;

                MILACRON CONFIRMS LOSS IN THIRD QUARTER
              DUE TO $94 MILLION IN NON-RECURRING CHARGES;
    CINCINNATI, Nov. 5 /PRNewswire/ -- Cincinnati Milacron Inc. (NYSE: CMZ) today reported sales in the third quarter of $214 million, down 5 percent from sales in the third quarter a year ago.
    The company incurred a net loss of $93.8 million ($3.43 per share) compared to net earnings of $1.6 million ($.06 per share) in the year- ago quarter.  The net loss for the quarter included previously announced one-time charges of $94 million.  Earnings from continuing operations before special charges were $1.5 million ($.05 per share), down from $3.8 million ($.14 per share) a year ago, but an improvement compared to losses from continuing operations in the two prior quarters.
    "We are pleased that results from continuing operations -- before special charges -- exceeded our break-even target and produced positive earnings in the third quarter," said Daniel J. Meyer, chairman and chief executive officer.  "And, with our existing backlog, we're on track for further increases in shipping rates and operating results in the fourth quarter," he said.
    New Orders and Backlog
    New orders in the third quarter of 1991 were $210 million, down from $237 million during the same period last year.  The backlog of unfilled orders at the end of the quarter stood at $314 million, down slightly from $318 million at the beginning of the quarter, but about the same as a year ago.
    "There has been some improvement in orders for plastics machinery and industrial consumable products, and our aerospace machine tools continue to do well," Meyer explained.  "However, we're still faced with a soft economy overall and low levels of demand in the rest of our businesses," he cautioned.
    Special Charges
    As announced on Sept. 19, 1991, to address problems in loss operations the board approved a management plan resulting in third- quarter charges of $90 million, for which there is no tax benefit.  The plan entails the relocation of centerless grinding machine and turning center manufacturing operations; the sale or disposal of the company's remaining grinding machine product lines; and the revaluation for sale of the company's measurement and inspection equipment subsidiary.  In the same announcement, the company also said that it would incur a one- time tax expense of $4 million on the withdrawal of surplus assets from its British employee pension fund.
    Outlook
    "The pickup in plastics machinery is encouraging, but we have yet to see a similar trend for standard machine tools," Meyer said.  "For our own part, however, we are making progress and we anticipate increasing benefits from the significant cost-reduction measures we've taken to improve our bottom line.  Furthermore, thanks to new products being introduced by our Wolfpack program, we expect to be well-positioned to take advantage of an economic recovery when it comes," he concluded.
                         CINCINNATI MILACRON INC.
                            Third Quarter           16-Week Period
                               10/5/91                  10/6/90
    Sales                   $213,896,000             $225,509,000
    Earnings (loss) from
      continuing operations ($77,560,000) (A)          $3,776,000
        Per share                 ($2.84) (A)                $.14
    (Loss) from discontinued
      operations            ($16,229,000) (B)         ($2,232,000)
        Per share                  ($.59) (B)               ($.08)
    Net earnings (loss)     ($93,789,000) (C)          $1,544,000
        Per share                 ($3.43) (C)                $.06
    Weighted average common
      shares outstanding      27,371,000               27,093,000
                             Year to Date           40-Week Period
                                10/5/91                 10/6/90
    Sales                    $552,155,000            $586,640,000
    Earnings (loss) from
      continuing operations  ($87,108,000) (A)       $ 10,540,000
        Per share                  ($3.19) (A)               $.41
    (Loss) from discontinued
      operations             ($17,117,000) (B)        ($3,375,000)
        Per share                   ($.63) (B)              ($.13)
    Net earnings (loss)     ($104,225,000) (C)         $7,165,000
        Per share                  ($3.82) (C)               $.28
    Weighted average common
      shares outstanding       27,358,000              25,460,000
    (A) -- Includes a $75.1 million ($2.74 per share) non-recurring charge for plant closing and relocation of manufacturing operations; and a $4 million ($.15 per share) tax provision on a withdrawal from British pension fund.
    (B) -- Includes $14.9 million ($.54 per share) for revaluation for sale of the company's measurement and inspection equipment subsidiary.
    (C) -- Includes non-recurring charges totaling $94 million ($3.43 per share) in the third quarter.
    -0-           11/5/91
    /CONTACT:  Albert Beaupre of Cincinnati Milacron, 513-841-7241/
    (CMZ) CO:  Cincinnati Milacron Inc. ST:  Ohio IN:  MAC SU:  ERN CK -- NY028 -- 1173 11/05/91 10:37 EST
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