Exhibit 99.2

                             News Release
     Contact: Albert Beaupre  (513) 841-7241
                
    With Sale of Machine Tool Unit Completed,
    Cincinnati Milacron to Buy Back Up to 2 Million Shares-
    Shortening Name to "Milacron,"  Trading Symbol to "MZ"
            
    Focused on Plastics Technologies and Industrial Products, 
    The New Milacron Expects More Consistent Earnings and Cash Flow


CINCINNATI, Ohio, October 5, 1998 -With completion of the
sale of its machine tool operations announced earlier today,
Cincinnati Milacron (NYSE: CMZ) said its board of directors
has authorized the repurchase of up to two million shares,
or about 5%, of its common stock outstanding. The company
said it would purchase these shares from time to time on the
open market in accordance with the guidelines in Rule 10b-18
under the Securities Exchange Act of 1934.

The company also officially changed its corporate name to
"Milacron Inc." and, effective tomorrow, its shares will
trade under the new symbol "MZ."

The new Milacron consists of two groups: plastics
technologies and industrial products.  These segments are
expected to have combined revenues of $1.8 billion in 1999,
with a resulting consolidated pre-tax operating margin
approaching 10%.

"A new corporate name and trading symbol are very
appropriate because Milacron is, in effect, a new company,
positioned for more consistent earnings and cash flow," said
Daniel J. Meyer, chairman, president and chief executive
officer.  "We now have freed up substantial resources we can
use to grow our two higher-margin businesses, which, in
recent years, have produced three-fourths of our sales and
more than 90% of our profits.

"At the new Milacron, we have a lot going for us," Meyer
said.  "We have strong positions and a solid reputation in
growing global markets.  We have an excellent lineup of
innovative products and a top-notch distribution network.
We have a proven strategy and a very capable
employee/management team eager to make the most of our many
opportunities.  And, given our stronger cash flow, we'll
have the financial flexibility to execute our plans for
internal growth and future acquisitions."

Milacron has leadership positions in both the $15-billion
world market for plastics-processing equipment and supplies
and the $20-billion world market for industrial consumable
products for metalworking.  With its recently announced
acquisition of  Uniloy, Milacron's plastics technologies
group, the largest North American producer of plastics
machinery and number two worldwide, is expected to have
sales of more than $1 billion in the coming year. The
industrial products group, the second largest cutting tool
maker in North America and third worldwide, expects its 1999
revenues to top $800 million.

"Our name change will help avoid confusion with the
continuing operation of our former machine tool business,
now known as Cincinnati Machine - A UNOVA Company," Meyer
said. "Although we're dropping the `Cincinnati' from our
name, we certainly aren't dropping Cincinnati.  We still
employ 2,400 people in southwest Ohio and we're committed to
keeping our corporate headquarters in the greater Cincinnati
metropolitan area," he said.

The stock symbol change becomes effective at the start of
trading, Tuesday, October 6, 1998.  No action is required of
current shareholders, as all records will be updated
automatically and Cincinnati Milacron/CMZ certificates for
both common and preferred stock will remain valid
indefinitely.  Standard & Poor's has assigned new CUSIP
numbers for Milacron's stock: 598709-103 for MZ common and
598709-202 for MZ preferred.
                                ____________
The new Milacron, with 1998 sales from continuing operations
approaching $1.6 billion, is a global leader in plastics
processing technologies and industrial consumable products
for metalworking.  The company has major manufacturing
facilities in North America and Europe and 11,500 employees
worldwide.  Milacron's plastics technologies include
injection molding machines, blow molding equipment and mold
components, and after-market parts and services.  Industrial
products include carbide metalcutting inserts, insert
holders, carbide and high-speed steel round tools,
metalworking fluids, chemical and tool management services,
precision grinding wheels, carbide wear parts and industrial
magnets.

The above forward-looking statements by their nature involve
risks and uncertainties that could significantly impact
operations, markets, products and expected results. For
further information please refer to the Cautionary Statement
included in Item 2 of Milacron's most recent Form 10-Q on
file with the Securities and Exchange Commission.


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