Milacron Sells Grinding Wheel Business to Tyrolit

CINCINNATI, Ohio - May 3, 2004...Milacron Inc. (NYSE: MZ) said today that it has completed the sale of its Cimform grinding wheel business to the North American arm of Tyrolit Schleifmittelwerke Swarovski, Europe's leading manufacturer of bonded abrasives and abrasive and diamond tools for industry and construction. Tyrolit Group will operate the business under the name Cincinnati Tyrolit.

"We are pleased to have found a strategic buyer who values our people and intends to grow the business," said Ronald D. Brown, Milacron's chairman, president and chief executive officer. "We thank everyone at Cimform for their hard work and dedication over these many years, and we look forward to a continuing relationship with them as a premier supplier of abrasives."

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 operating cash flow in 2004.

Cimform is a major North American producer of vitrified and resin-bonded grinding wheels with advanced conventional, synthetic and super abrasive technology. Employing about 180 people, it is based in Cincinnati, Ohio, with a satellite operation in Nogales, Sonora, Mexico. The unit had sales of approximately $30 million in 2003.

The grinding wheel business is the last of Milacron's discontinued metalworking operations to be sold. In 2002 and 2003, the company divested its other metalcutting tool businesses in support of a long-term strategy to build on its leading position as a global supplier of plastics processing technologies and industrial fluids.

"We are now totally focused on plastics technologies and industrial fluids. All of our resources are committed to finding better ways to serve our plastics and fluids customers worldwide and extending our market leadership in these two core businesses," Brown said.

First incorporated in 1884, Milacron is a leading global supplier of plastics-processing technologies and industrial fluids with 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).