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CINCINNATI MILACRON TO BUY KLOCKNER'S FERROMATIK PLASTICS INJECTION MOLDING MACHINE BUSINESS

 Excellent Fit to Bolster Milacron's European Presence and
 Distribution
 CINCINNATI, Nov. 2 /PRNewswire/ -- Cincinnati Milacron Inc. (NYSE: CMZ) and Klockner Werke AG, Duisburg, Germany, today jointly announced a definitive agreement under which Milacron will purchase Klockner's Ferromatik plastics injection molding machine business, including product lines, plant and distribution network, for DM 94 million (approximately $56 million) in cash and assumed debt. The Ferromatik operation has about 600 employees and $100 million in annual sales. The transaction, which is expected to close in approximately two weeks, will have no material effect on Milacron's earnings in 1993.
 "Ferromatik will be an excellent, complementary fit with our existing injection molding machine business," said Daniel J. Meyer, Milacron chairman and chief executive officer. "It will expand our technology and product line offering and will help us achieve our previously announced strategic objective of establishing a manufacturing and distribution base in Germany from which to serve Europe and other key markets. The synergism of the combined distribution networks will greatly enhance our selling opportunities for both Milacron and Ferromatik products," Meyer said. "And we expect Ferromatik to contribute positively to the bottom line in 1994."
 The acquisition will include the Ferromatik lines of hydraulic and electric injection molding machines and a modern manufacturing facility in Malterdingen, Germany, south of Stuttgart, as well as Ferromatik's worldwide marketing, sales and service network. The new "Ferromatik Milacron" company will be a dedicated injection molding machine business.
 "This acquisition will give Milacron full and immediate access to the world's largest market for injection molding machinery," said Harold J. Faig, Milacron's vice president for injection molding machinery. "In a sense, we will now have two home markets, each with combined product offerings and a worldwide distribution network," Faig said. "In addition, we're getting a first-class manufacturing plant designed specifically for the production of injection molding machines," he added.
 Klockner Ferromatik is one of the world's leading producers of injection molding machines and is recognized for its high-end technology including multi-color machines, multi-component systems and other specialty applications.
 Cincinnati Milacron is a leading worldwide manufacturer of plastics processing machinery for injection molding, blow molding and extrusion, with about $300 million in annual sales. Headquartered in Cincinnati, Ohio, Milacron is also a major producer of machine tools, computer controls, software, flexible manufacturing cells and systems, precision grinding wheels, metalworking fluids and Valenite metalcutting tools. With anticipated 1993 consolidated sales of approximately $1 billion, Milacron has 18 plants in the U.S. and Europe and 8,000 employees worldwide.
 -0- 11/2/93
 /CONTACT: Albert Beaupre of Cincinnati Milacron Inc., 513-841-7241/
 (CMZ)


CO: Cincinnati Milacron Inc.; Klockner Werke AG ST: Ohio IN: MAC SU: TNM

TW -- NY044 -- 9592 11/02/93 10:45 EST
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Publication:PR Newswire
Date:Nov 2, 1993
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