A shake-up is expected in the Milacron plastics machinery businesses in both Europe and North America.The company has re-forecast lower its third quarter and full year earnings because of adverse market conditions and is initiating 'a consolidation plan'.Ronald D.Brown,chairman,president and chief executive officer,said 'While our North American machinery businesses continue to show solid year-over-year growth,further increases in oil and related resin prices have caused many plastics processors to defer anticipated machinery purchases.In addition,we continue to suffer from ongoing softness in markets served by our European plastics technologies operations.
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