12 March 2009
Award-winning corporate and financial communications consultancy, Abchurch, has been flexing its special situations skills for global plastics company Milacron Inc. This follows the company’s filing in the USA and Canada for Chapter 11 protection and its subsequent re-financing; both from existing investors (US$80 million) and via a new revolving credit facility (US$55 million).
To manage the Chapter 11 work, a five-strong Abchurch team in London worked in collaboration with two of its PR partners from the global IPREX network, Scheibel Halaska (Milwaukee) and Tunheim Partners (Minneapolis), to develop a regional strategy, holding statements, briefing notes, and press materials for Milacron subsidiaries operating across Europe, the Middle East, Africa and India.
Abchurch’s internal and corporate communications counsel enabled the Managing Directors of these subsidiaries to communicate the Chapter 11 process to their employees, partners, customers and suppliers and explain that on-the-ground operations, payments, product availability and service standards would not be affected by wholly North American transactions within the holding company.
Milacron has a long established reputation, operating through well-known brands that are respected in the plastics sector (systems and moulds) and metalworking industry (specialist fluids). First incorporated in 1884, Milacron has major manufacturing facilities in North America, Europe and Asia. Abchurch’s Special Situations Team has successfully advised clients on a number of recent distress situations including Company administrations, reorganisations and restructuring, as well as Chapter 11.
For communications advice surrounding Chapter 11 protection, please contact Henry Harrison-Topham
Tel: +44 (0)20 7398 7702