Milacron Sells Minnesota Twist Drill

CINCINNATI, OHIO, August 29, 2003...Milacron Inc. (NYSE: MZ), a leading supplier of plastics processing equipment and supplies and industrial fluids, today announced the sale of its Minnesota Twist Drill business to MTD Acquisition Inc., a newly formed company that includes a few employees of Minnesota Twist Drill and a private investment group.

With about 50 employees, Minnesota Twist Drill manufactures drills for wood and soft-metal applications and markets them mainly through private branding for commercial and industrial markets and the do-it-yourself consumer. The unit, based in Chisholm, Minnesota, had 2002 sales of approximately $10 million and was acquired by Milacron in 1997.

“Our intention is to operate Minnesota Twist Drill and continue to serve our customers,” said Scott Allison, President of MTD Acquisition Inc. “The economic downturn coupled with increased foreign imports has squeezed margins in recent years, so we need to trim costs and increase productivity. We feel that our hard working and experienced employee base will enable us to do just that. If we are competitive, the sales should come our way,” he added.

Sale price and other specific terms of the transaction were not disclosed. The transaction is not expected to have a material effect on Milacron’s sales, earnings or cash flow in 2003. Milacron continues to operate its other round tool units in Pittsfield, Massachusetts and Millersburg, Pennsylvania.

"We wish the entire team at Minnesota Twist Drill a successful future,” said Ronald D. Brown, Milacron chairman and chief executive officer. “Their contributions and years of dedication to Milacron are very much appreciated.”

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First incorporated in 1884, Milacron is a leading global supplier of plastics-processing technologies and industrial fluids, with about 3,500 employees and major manufacturing facilities in North America, Europe and Asia. For further information, visit www.milacron.com or call the toll-free investor line: 800-909-MILA (800-909-6452).