CINCINNATI - Cincinnati Milacron Inc. plans to boost its stake in cutting tools for mold making and other metalworking markets by acquiring Talbot Holdings Ltd. for $38 million. Talbot of Easton, Pa., has four subsidiaries making high-speed steel and carbide metal-cutting tools. It has total annual sales of about $40 million. Milacron expects to complete the deal by the end of July. High-speed steel and carbide end mills account for most of Talbot's sales.
Steel end mills will be a new market for Milacron, and Talbot's carbide types do not overlap much with Milacron's existing cutting tool business, according to Milacron spokesman Albert Beaupre.
The Talbot businesses complement Milacron's cutting tool products operations and should boost sales of consumable industrial products to more than $700 million next year.