Cincinnati Milacron Hurt by Asia, GM Strikes

Cincinnati Milacron Inc., a maker of metalworking and plastics machinery, said it expects second-half sales and earnings to fall below analysts’ estimates because of weakened demand in Asia and strikes against General Motors Corp. The company sees full-year 1998 earnings at 8% to 12% above last year’s. That indicates a range of $2.17 to $2.25 a diluted share, less than the $2.29 average estimate in an IBES International Inc. survey of analysts. The Cincinnati-based company said its second quarter will be close to current estimates of 54 cents a share. Machine tool orders are being delayed because of poor economic conditions in Asia. The GM strikes are hurting sales of its industrial products such as metal-cutting tools, fluids and grinding wheels. Cincinnati Milacron shares fell 59 cents to close at $25.69 on the NYSE.