Milacron Inc. reported last week that earnings from its industrial fluids business fell 42 percent during the third quarter as rising raw materials costs ate away at margins. The fluids business turned an operating profit of $2.8 million for the three months ended Sept. 30, down from $4.8 million during the same period of 2003.

Sales were nearly flat, rising $200,000 to $26.6 million. Earnings as a percent of sales slid from 18.2 percent to 10.5 percent. Management said it plans to raise prices between now and the end of the year to offset higher expenses for base oils and chemicals.