EXHIBIT 99.1


        MILACRON
MANUFACTURING TECHNOLOGIES                                        NEWS RELEASE


FOR IMMEDIATE RELEASE
CONTACT: AL BEAUPRE  (513) 487-5918


                  MILACRON TO LAUNCH A STOCK RIGHTS OFFERING

CINCINNATI, OHIO, June 9, 2004...Milacron Inc. (NYSE: MZ) said its board of
directors has approved a stock rights offering in which holders of Milacron
common stock will be granted the opportunity to purchase a limited number of
new shares at a set offering price of $2.00 per share. At its annual meeting
of shareholders earlier today, the company received the shareholder approvals
required to complete its recent refinancing transactions (see separate
release), enabling the rights offering.

Within a matter of weeks, the company plans to submit a registration statement
for the offering to the Securities and Exchange Commission (SEC). Once the
registration statement clears SEC review, Milacron's board of directors
intends to set a record date in the future, and shareholders will be entitled
to purchase 0.452 shares for each share of Milacron common stock that they own
on the record date at the $2.00 per-share price. Common shares received upon
conversion of the company's newly issued 6% Series B convertible preferred
stock are not eligible for participation in the rights offering.

Full subscription would result in the issuance of up to 16 million new common
shares. The company intends to use the net proceeds from the offering to
redeem a portion of its Series B convertible preferred stock.

This press release does not constitute an offer of any securities for sale.

The forward-looking statements above 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 the company's most recent Form 10-Q on file with the
Securities and Exchange Commission.

First incorporated in 1884, Milacron is a leading global supplier of
plastics-processing technologies and industrial fluids, with 3,500 employees
and major manufacturing facilities in North America, Europe and Asia. For
further information, visit www.milacron.com or call the toll-free investor
line: 800-909-MILA (800-909-6452).

CONTACT: Milacron Inc. Al Beaupre, 513-487-5918

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 MILACRON INC. - 2090 FLORENCE AVE. - CINCINNATI, OHIO 45206 - 513.487.5000 -
                               WWW.MILACRON.COM