You can take the Cincinnati out of Milacron Inc., but you can't take the Milacron out of Cincinnati.
The largest U.S.-owned plastics machinery maker has officially shortened its name from Cincinnati Milacron Inc. to Milacron Inc. Effective Oct. 6, its New York Stock Exchange shares trade under a new symbol, MZ.
Milacron also announced it has completed two major recent deals—its purchase of Johnson Control's Uniloy blow molding and structural foam machinery operations in Manchester, Mich., and the sale of its Machine Tool Group to Unova Inc.
The machine tool sell-off left Milacron focused on just two businesses, plastics machinery and consumable industrial products.
Unova is keeping the Cincinnati machine tools operations, including Milacron's stately headquarters building in the Oakley neighborhood of Cincinnati.
Milacron is looking for a new headquarters. The company will not move out of the Cincinnati area, officials pledge. Milacron's Plastics Technologies Group is located in Batavia, Ohio.
``Our name change will help avoid confusion with the continuing operation of our former machine tool businesses, now known as Cincinnati Milacron—A Unova Co.,'' said Daniel J. Meyer, Milacron's chairman, president and chief executive officer. ``Although we're dropping the `Cincinnati' from our name, we certainly aren't dropping Cincinnati. We still employ 2,400 people in southwest Ohio and we're committed to keeping our corporate headquarters in the greater Cincinnati metropolitan area.''