Milacron has sold its Talbot round tool business to Harpoint Holdings, a private investment group based in Newtown, PA for an undisclosed sum.
The transaction is not expected to have a material effect on Milacron’s sales, earnings or cash flow in 2003.
Talbot tool brands – Data Flute CNC, Weldon Tool, Brubaker Tool, Fastcut, New England Tap and Micro Carbide Tool – serve the automotive, aerospace and other metalworking industries with solid carbide and high-speed steel/cobalt end mills, drills, taps, reamers, countersinks and counterbores.
With about 220 employees, the Talbot business manufactures its metalcutting round tools in Pittsfield, MA and Millersburg, PA and had 2002 sales of approximately $30 million.
Milacron purchased the four original Talbot brands in 1995 and added Data Flute in 1997 and Micro Carbide in 1999.
Last month Milacron completed the sale of its other round tool business, Minnesota Twist Drill, to MTD Acquisition.
‘For Milacron, divesting the remainder of these cutting tool businesses enables us to further focus our resources on our core businesses – plastics technologies and industrial fluids,’ said Ronald D. Brown, Milacron’s chairman and chief executive officer.