Milacron Holdings (MCRN) Posts Q3 GAAP Loss of 17c/Share; Enters Agreement to Acquire CanGen
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Milacron Holdings Corp. Reports Third Quarter 2015 Results
November 6, 2015 7:00 AM EST2015 Third Quarter Overview
Adjusted EBITDA (non-GAAP) increased 4.0% to $54.0 million in 3Q'15, versus $51.9 million in 3Q'14 Adjusted EBITDA (non-GAAP) margins rose 190 basis points to 18.4% in 3Q'15 versus 16.5% in 3Q'14 Adjusted Net Income (non-GAAP) increased 26.6% to $25.7 million in 3Q'15, versus $20.3 million in 3Q'14 Cost structure realignment now expected to deliver $35 million of annualized savings by end of 2017, up $5 million from previous estimateCINCINNATI--(BUSINESS WIRE)-- Milacron Holdings Corp. (Milacron) (NYSE: MCRN), a leading industrial technology company serving the plastics processing industry, today announced financial results for the third quarter ended September 30, 2015.
      Three Months Ended September 30,... MoreMilacron To Acquire CanGen
November 6, 2015 6:30 AM ESTCINCINNATI--(BUSINESS WIRE)-- Milacron Holdings Corp. (Milacron) (NYSE: MCRN), a leading industrial technology company serving the plastics processing industry, has agreed to acquire CanGen Holdings, Inc. (CanGen) consisting of subsidiaries Canterbury Engineering Company and Genca. CanGen is a leading supplier of highly engineered aftermarket process control components for extrusion and injection molding applications with approximately $20 million in sales. This acquisition will be immediately accretive to Milacrons Adjusted EPS and enhances Milacrons aftermarket capabilities including a broadened product offering into downstream tooling, proprietary rights to over 185,000 unique designs and drawings, and a regional... More
