Milacron sells tooling business
Canadian PlasticsCanadian Plastics
Plastics equipment manufacturer Milacron Inc. has announced the sale of its round cutting tool division, Talbot, to...
Plastics equipment manufacturer Milacron Inc. has announced the sale of its round cutting tool division, Talbot, to Harpoint Holdings Inc., a private investment holding firm located in Newton, PA. The sale is part of an on-going strategy to cut costs and return the company to profitability by focusing on Milacron’s core plastics technologies, according to Ronald Brown, Milacron chairman and CEO. Terms of the sale were not released.
The Talbot tool business employs about 220 workers and had 2002 sales of about $30 million . The company manufactures high-performance solid carbide and high-speed steel end mills, reamers, taps countersinks and other tools in Pittsfield, MA and Millersburg, PA.