CINCINNATI MILACRON
Plastics machinery: Record results in Q1 / Success for Austrian subsidiary
The plastics machinery division of the US Group, Cincinnati Milacron Inc. (CM, 4701 Marburg Avenue, Cincinnati OH 45209, USA) has got off to a splendid start in the first quarter of 1998. Sales of plastics machinery and moulds rose 21% to USD 180m (149m), while the result improved to USD 16.2m (9.2m). Allowing for the influence of exchange rates and the switch in the financial year to quarterly statements, growth of 9% is reported in sales and incoming orders.
CM is thus pressing ahead with its expansion of the past few years. The annual report shows sales of USD 736m for plastics machinery in 1997 (up by 11%), while the result stagnated at USD 59.7m (59.2m), due chiefly to slack business in injection moulding machines in the first half of the year. The situation at the Austrian subsidiary, Cincinnati Milacron Austria GmbH (PO Box. 111, A-1239 Vienna) fits in well with this picture. The subsidiary, which is specialised in extrusion plants, increased sales by 9% to ATS 960.5m (DEM 135m) through extra sales on European markets and in the Middle East. The single-screw extruders developed by CM Austria accounted for a third of its overall sales already. Restructuring and cost-cutting measures at the German subsidiary Ferromatik Milacron GmbH (Riegler Str. 4, D-79364 Malterdingen), which produces injection moulding machines, had a positive impact since 1997.
At the start of the year, the parent company brought a new production line for all-electric injection moulding machines into operation at the Cincinnati headquarters. CM is expecting this technology to become widely established over the next decade and is setting out to gain market leadership worldwide. A new plant is being constructed by CM in India for its Prowler injection moulding machine, first presented at the NPE 97 in Chicago. The company is aiming to become a contact for plastics converters on all aspects of machine technology. As part of this strategy, CM acquired Wear Technologies (McPherson, Kansas, USA) in February, active in the field of twin screws with special coatings, and Northern Supply, specialists in plastics machinery accessories.
READER SERVICE: Detailed press information on results for the 1st quarter of 1998 (English): PIE-No. 42643 – 1997 Group Annual Report (English): PIE-No. 42644.
CM is thus pressing ahead with its expansion of the past few years. The annual report shows sales of USD 736m for plastics machinery in 1997 (up by 11%), while the result stagnated at USD 59.7m (59.2m), due chiefly to slack business in injection moulding machines in the first half of the year. The situation at the Austrian subsidiary, Cincinnati Milacron Austria GmbH (PO Box. 111, A-1239 Vienna) fits in well with this picture. The subsidiary, which is specialised in extrusion plants, increased sales by 9% to ATS 960.5m (DEM 135m) through extra sales on European markets and in the Middle East. The single-screw extruders developed by CM Austria accounted for a third of its overall sales already. Restructuring and cost-cutting measures at the German subsidiary Ferromatik Milacron GmbH (Riegler Str. 4, D-79364 Malterdingen), which produces injection moulding machines, had a positive impact since 1997.
At the start of the year, the parent company brought a new production line for all-electric injection moulding machines into operation at the Cincinnati headquarters. CM is expecting this technology to become widely established over the next decade and is setting out to gain market leadership worldwide. A new plant is being constructed by CM in India for its Prowler injection moulding machine, first presented at the NPE 97 in Chicago. The company is aiming to become a contact for plastics converters on all aspects of machine technology. As part of this strategy, CM acquired Wear Technologies (McPherson, Kansas, USA) in February, active in the field of twin screws with special coatings, and Northern Supply, specialists in plastics machinery accessories.
READER SERVICE: Detailed press information on results for the 1st quarter of 1998 (English): PIE-No. 42643 – 1997 Group Annual Report (English): PIE-No. 42644.
15.08.1998 Plasteurope.com [18513]
Published on 15.08.1998