Milacron stockholders have approved sale to Hillenbrand
Canadian Plastics
Plastics ProcessesThe US$2 billion deal between the Cincinnati, Ohio-based processing machinery maker and Hillenbrand was first announced in July 2019.
Photo Credit: Milacron
Stockholders for Milacron Holdings Corp. have approved the sale of the company to industrial equipment maker Hillenbrand Inc.
The transaction is now expected to close on November 21.
At a special meeting of the board, Milacron’s stockholders also approved the proposal to approve, on an advisory (non-binding) basis, specified compensation payable to Milacron’s named executive officers in connection with the merger.
The US$2 billion deal between Cincinnati-based Milacron and Hillenbrand, which is headquartered in Batesville, Indiana, was first announced in July 2019.
The combined company is expected to generate annual sales of approximately US$3 billion and free cash flow of more than US$325 million by 2021, the companies said in a July 2019 statement.
Milacron operates in three segments: Melt Delivery & Control Systems, which designs and manufactures hot runner and process control systems, mold bases, and components; Advanced Plastics Processing Technologies, which designs and manufactures plastics processing equipment and systems, including injection molding, extrusion, and auxiliary systems; and Fluid Technologies, which manufactures products that are used in a variety of metalworking processes.
Hillenbrand is the parent company of extruder supplier Coperion GmbH.
