US machinery giant Milacron cuts 130 jobs

BATAVIA, Ohio, USA - Milacron has announced plans to lay off 130 jobs, or about 10 percent of its workforce, across its North American operations. The Batavia, Ohio-based plastics machinery maker is also awaiting an asset sale to help it emerge from bankruptcy protection. In a statement, Milacron said: 'We have made layoffs in order to adjust the size of our business to current business levels. This move will not only reduce our overhead, but will also help streamline our organization, allowing us to More emphasis on customers in decision-making, while being more flexible in responding to increasingly stringent customer requirements.” Milacron filed for bankruptcy and reorganization in March. By the end of June, the bankruptcy court had granted Milacron's request to sell its assets to two investor groups, whose debts would also be borne: New York-based Avenue Capital Group and DDJ Capital Management LLC. company. A Milacron spokeswoman said the deal is expected to close by the end of August. In a statement announcing the layoffs, the company said in a statement announcing the layoffs, as Milacron aggressively prepares to emerge from bankruptcy and change ownership: 'We will be a more financially sound organization, leaner and better positioned for long-term success. .” Milacron officials declined to release a detailed list of the 130 layoffs. But a heavyweight left a few weeks ago: Ross Anderson, former corporate vice president and president of Milacron's North American machinery technology division, has submitted his resignation, effective July 14. Another top executive, Herb Hutchison, emailed on Aug. 11 that Milacron had fired him. He was previously Director of International Business Development for Milacron's Extrusion Systems Division. Hutchison said he intends to remain in the plastics business.