Milacron Holdings Corp. is ending the fourth quarter with $325 million in sales — a 9 percent increase over last year in the same period — citing double-digit growth in machinery and market demand from China and India.
“The fourth quarter capped off a great year for Milacron,” CEO Tom Goeke told financial analysts during a Feb. 20 conference call.
Net profit was $3.3 million in the company's fourth quarter, which ended Dec. 31. New orders for the fourth quarter were up 5 percent over last year, totaling $316 million.
The Blue Ash, Ohio-based equipment manufacturer also reported growth for 2017. Full-year sales of $1.2 billion represent a 5 percent increase vs. the prior year for the company.
“We had growth in all major regions — both for the fourth quarter and for the full year — with particular strength in China and India,” said Bruce Chalmers, Milacron's chief financial officer. “From an end market perspective, the consumer goods, electronics and construction segments grew positively in the fourth quarter and the full year.”
2017 also marked a shakeup in stock ownership for the company. Private equity firm CCMP Capital Advisors LLC, which in December 2016 owned 60.6 percent of Milacron's shares, sold the rest of its stock to Credit Suisse Securities (USA) LLC in November in a secondary stock offering. The sale marks the firm's official exit from Milacron stock ownership.
Back in 2012, CCMP had purchased Milacron for an undisclosed amount from private equity firm Avenue Capital Group, which along with three other investment firms bought Milacron out of Chapter 11 bankruptcy in 2009 for $175 million.