|
|
Article: Milacron driven into bankruptcy.(News)
- Article from:
- Plastics News
- Article date:
- March 16, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Bill Bregar
Milacron Inc. dodged the bankruptcy bullet five years ago with an 11th-hour refinancing. But the clock ran out on March 10, when Milacron filed for Chapter 11 facing today's caustic combination of a global recession that cut demand for its machinery and the credit crunch that dried up alternative financing sources.
Milacron "faced a severe liquidity crisis by the end of February, the company said in court documents.
Two investor groups that hold 78 percent of its senior notes Avenue Capital Group and DDJ Capital Management LLC will provide the company with $80 million in debtor-in-possession financing that will give ...
Related newspaper, magazine, and journal articles:
|
|
Article: Low-Cost Presses Get Upgraded Controls.(Ferromatik ...
Plastics Technology;
March 1, 2001 ;
531 words
... ... machines has been upgraded with new closed-loop controls. These hydraulic-clamp machines from Ferromatik Milacron North America, Batavia, Ohio, now come standard with a B&R CP476 closed-loop microprocessor controller, LCD display ...
|
|