Cincinnati Milacron sells machine tool group, become Milacron Inc.

Cincinnati Milacron divorced itself from its 19th century name and trade as it sold its machine tool group and sent "Cincinnati" along with it. Milacron, Inc., as the company is now known, also completed its purchase of Uniloy from Johnson Controls, Inc. At the same time as it announced the sale of its machine tool group to UNOVA for $180 million, Cincinnati Milacron said its board of directors had authorized the repurchase of two million shares (about 5%) of its outstanding common stock, and officially changed its corporate name to Milacron, Inc.