Milacron considering selling its Cimcool division: report
Bloomberg sources say the plastics machinery maker is working with an adviser to look at options for the unit, which produces coolants and lubricants for industrial machinery.
July 2, 2019 by Canadian Plastics
Plastics machinery maker Milacron Holdings Corp. is considering selling its Cimcool division, which produces coolants and lubricants for industrial machinery, a June 28 Bloomberg news report said.
Quoting what it calls “people with knowledge of the matter,” Bloomberg said the Cincinnati, Ohio-based company is working with an adviser to solicit offers for the business, which could go for as much as US$300 million.
A final decision hasn’t been made and Milacron could decide to keep the company, the people said.
Cimcool’s complete line of metalworking products includes precision metal removal fluids, rust preventatives, HVAC specialty fluids, and productive process and maintenance cleaners.
In May, Milacron announced that it was selling its Uniloy blow molding business to U.S.-based investment firms Osgood Capital Group LLC and Cyprium Investment Partners LLC for an undisclosed amount.