In announcing its 2001 financial results yesterday, Milacron Inc. said its Metalworking Technologies division earned $19.9 million, down from $70.7 million in 2000. Sales for the division, which markets metalworking fluids as well as machining tools, dropped from $700 million to $610 million.
The Cincinnati, Ohio, company attributed the slide to a slowdown in industrial activity but said it believes that the recession in North America has bottomed out. Milacron, which also supplies plastics processing equipment and parts, said it can break even in 2002 if the economy begins to grow again by mid-year.
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