EX-99 3 ex991.htm EXHIBIT 99.1 .



TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED MARCH 31, 2009



IN RE:

:

09-11235 (JVA); 09-11236;

09-11237;

 09-11238;

:

09-11239;

 09-11241;

CASE NO.:

09-11244                          

:

Chapter 11

Judge:

J. Vincent Aug, Jr.            

Milacron Inc., a Delaware corporation,

:

et, al.

Debtor


As debtor in possession, I affirm:


1.

That I have reviewed the financial statements attached hereto, consisting of:


X

 

Operating Statement

(Form 2)

X

 

Balance Sheet

(Form 3)

X

 

Summary of Operations

(Form 4)

X

 

Monthly Cash Statement

(Form 5)

X

 

Statement of Compensation

(Form 6)

X

 

Schedule of In-Force Insurance

(Form 7)


and that they have been prepared in accordance with normal and customary accounting practices, and fairly and accurately reflect the debtor’s financial activity for the period stated;


2.

That the insurance, including workers’ compensation and unemployment insurance, as described in

Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(if not, attach a written explanation)

YES      X      

NO _______


3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating Instructions and

Reporting Requirements For Chapter 11 cases are current.

(If not, attach a written explanation)

YES      X      

NO _______


4.

No professional fees (attorney, accountant, etc.) have been paid without specific court authorization.

(If not, attach a written explanation)

YES      X      

NO _______


5.

All United States Trustee Quarterly fees have been paid and are current.

YES      X      

NO _______


6.

Have you filed your prepetition tax returns.

(If not, attach a written explanation)

YES _______

NO      X      



I hereby certify, under penalty of perjury, that the information provided above and in the attached documents is true and correct to the best of my information and belief.


    /s/ John C. Francy    

Dated       5/5/09     

Debtor in Possession


V.P.-Finance,

513-536-3555

       Title

       Phone

Treasurer &

CFO


Form 1








Transmittal of Financial Reports and

Certification of Compliance with

United States Trustee Operating Requirements for

The Period Ended

March 31, 2009



IN RE:  

Milacron Inc., a Delaware corporation, et, al.


CASE NO:  

09-11235 (JVA)

09-11236

09-11237

09-11238

09-11239

09-11241

09-11244


Chapter 11 Judge:

J. Vincent Aug, Jr.



Form 1, Item 6:

Written explanation of unfiled prepetition tax returns:


The company has yet to file its 2008 Federal and State Income Tax Returns.  

The returns will be filed within the extended due dates.





















Form 1 (Attachment for Item 6)











OPERATING STATEMENT (P&L)

Period Ending March 31, 2009

     
  

Case No:

09-11235 (JVA)

     
    

Total Since

  

Period Ending

 

Filing on

  

March 31, 2009

 

March 10, 2009

     

Total Sales

 

   22,260,000 

 

   22,260,000 

Cost of Sales

 

   20,262,000 

 

   20,262,000 

     

Gross Profit

 

     1,998,000 

 

     1,998,000 

     

Selling, General and Administrative Expenses:

  

   Salaries and Wages

 

  954,000 

 

  954,000 

   Fringes/Employee Benefits

 

  403,000 

 

  403,000 

   Travel and Entertainment

 

  157,000 

 

  157,000 

   Advertising

 

  102,000 

 

  102,000 

   Professional Services

 

  152,000 

 

  152,000 

   Commissions

 

  254,000 

 

  254,000 

   Dealer's Discount

 

  302,000 

 

  302,000 

   Other

 

  240,000 

 

  240,000 

     Total Expenses

 

     2,564,000 

 

     2,564,000 

     

Net Operating Profit/(Loss)

 

(566,000)

 

(566,000)

     

Add:  Non-Operating Income

    

   Interest Income

 

8,000 

 

8,000 

   Intercompany Service Credit

 

  136,000 

 

  136,000 

     Total Non-Operating Income

 

  144,000 

 

  144,000 

     

Less:  Non-Operating Expenses

    

   Bankruptcy Professional Fees, Estate

 

     1,103,000 

 

     1,103,000 

   Bankruptcy Professional Fees, Lenders

 

     1,479,000 

 

     1,479,000 

   Bankruptcy Costs - Other

 

    82,000 

 

    82,000 

   Investment Loss in Subsidiaries

 

     2,523,000 

 

     2,523,000 

   Financing Costs

 

     2,744,000 

 

     2,744,000 

   Loss on Currency Transactions

 

    56,000 

 

    56,000 

   Intercompany Interest Expense

 

  294,000 

 

  294,000 

   Interest Expense

 

  788,000 

 

  788,000 

   Other

 

  191,000 

 

  191,000 

     Total Non-Operating Expenses

 

     9,260,000 

 

     9,260,000 

     

Income Tax Expense (Income)

 

  (70,000)

 

  (70,000)

     

Net Income/(Loss)

 

   (9,612,000)

 

   (9,612,000)










BALANCE SHEET

Period Ending March 31, 2009

     
  

Case No:

09-11235 (JVA)

     
  

March 31, 2009

 

At Filing

     

ASSETS:

    

Cash and Cash Equivalents

 

      4,671,000 

 

     6,581,000 

Notes and Accounts Receivable, Net

 

   33,157,000 

 

   32,541,000 

Insider Receivables

 

-    

 

-    

Inventory

 

   84,687,000 

 

   92,115,000 

Deferred Income Taxes Net of Valuation Allowances

      1,362,000 

 

     1,362,000 

Other Assets

 

   11,430,000 

 

     8,665,000 

Property, Plant and Equipment

 

 189,310,000 

 

 189,079,000 

Accumulated Depreciation

 

      (145,588,000)

 

     (144,959,000)

Goodwill

 

   52,706,000 

 

   52,582,000 

Deferred Financing Costs

 

      5,027,000 

 

     5,152,000 

Investments in Subsidiaries

 

 293,767,000 

 

 288,027,000 

Advances to Subsidiaries

 

      4,730,000 

 

     4,589,000 

TOTAL ASSETS

 

 535,259,000 

 

 535,734,000 

     

LIABILITIES:

    

Post-Petition Liabilities:

    

Trade Accounts Payable

 

   11,492,000 

 

-    

Advance Billings and Deposits

 

      1,027,000 

 

-    

Accrued Salaries, Wages and Other Compensation

      3,644,000 

 

-    

Accrued Interest

 

  402,000 

 

-    

Intercompany Payable

 

      3,093,000 

 

-    

Advances from Affiliates

 

-    

 

-    

Accrued Liabilities

 

      4,020,000 

 

-    

Debtor-in-Possession Financing

 

   37,167,000 

 

-    

     Total Post-Petition Liabilities

 

   60,845,000 

 

-    

     

Secured Prepetition Liabilities:

    

Short-Term Borrowings

 

      8,845,000 

 

   39,532,000 

Long-Term Debt

 

 212,958,000 

 

 227,483,000 

     Total Secured Liabilities

 

 221,803,000 

 

 267,015,000 

     

Pre-Petition Liabilities Subject to Compromise:

   

Trade Accounts Payable

 

   35,549,000 

 

   36,595,000 

Advance Billings and Deposits

 

      6,333,000 

 

   12,010,000 

Accrued Salaries, Wages and Other Compensation

      7,523,000 

 

     8,864,000 

Accrued Interest

 

      7,761,000 

 

     8,220,000 

Intercompany Payable

 

 115,793,000 

 

 120,980,000 

Advances from Affiliates

 

   65,938,000 

 

   64,004,000 

Accrued Liabilities

 

 282,026,000 

 

 283,555,000 

     Total Pre-Petition Liabilities

 

 520,923,000 

 

 534,228,000 

     









Equity:

    

Preferred Stock

 

      6,005,000 

 

     6,005,000 

Common Stock

 

     60,000 

 

    60,000 

Paid In Capital

 

 479,908,000 

 

 479,727,000 

Retained Deficit - Pre-Petition

 

      (537,129,000)

 

     (537,129,000)

Retained Deficit - Post-Petition

 

 (10,121,000)

 

-    

Accumulated Other Comprehensive Loss

 

      (207,035,000)

 

     (214,172,000)

     Total Equity

 

      (268,312,000)

 

     (265,509,000)

    

-    

Total Liabilities and Equity

 

 535,259,000 

 

 535,734,000 










SUMMARY OF OPERATIONS

Period Ended:  March 31, 2009

        
     

Case No:  09-11235 (JVA)

        
        
 

Schedule of Postpetition Taxes Payable

 

Beginning

 

Accrued /

 

Payments /

 

Ending

 

Balance

 

Withheld

 

Deposits

 

Balance

Employer Payroll Taxes and

Employee Payroll Taxes Withheld

$                   -   

 

$    1,219,000

 

$        350,000

 

$       869,000

        

Sales, Use & Excise Taxes:

  -   

 

    214,000

 

29,000

 

    185,000

        

Property Taxes:

  -   

 

52,000

 

  -   

 

52,000

        

Workers' Compensation

  -   

 

14,000

 

  -   

 

14,000

 

 

 

 

 

 

 

 

TOTALS:

$                   -   

 

$    1,499,000

 

$        379,000

 

$   1,120,000

        
        
        

AGING OF ACCOUNTS RECEIVABLE AND POSTPETITION ACCOUNTS PAYABLE

        
   

Days Past Due

Days in Age

Current

 

1-30

 

31-60

 

Over 90

        

Post Petition Accounts Payable

$  11,492,000

 

$                  -

 

$                   -

 

$                  -

Accounts Receivable

$  19,463,000

 

$   8,318,000

 

$    2,198,000

 

$   4,304,000

        

Components of Balance Sheet Notes and Accounts Receivable

    

Customer Receivables

$  34,283,000

(See aging above.)

   

Notes Receivable

$    2,273,000

      

Allowance for Doubtful Accounts

$  (3,399,000)

      

Notes and Accounts Receivable

$  33,157,000

      
        

For all postpetition accounts payable over 30 days old, please attach a sheet listing each such account,

to whom the account is owed, the date the account was opened, and the reason for non-payment of the

account

       
        

Describe events or factors occurring during this reporting period materially affecting operations and

formulation of a Plan of Reorganization

 
        

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form 4

    











MONTHLY CASH STATEMENT

Period Ending March 31, 2009

         
         

Cash Activity Analysis (Cash Basis Only):

  

Case No:

09-11235 (JVA)

 
         
    

Milacron

    
   

Milacron

Plastics

 

Cimcool

 

Milacron

   

Marketing

Technologies

D-M-E

Industrial

Milacron

Capital

  

Milacron Inc.

Company

Group, Inc.

Company Inc.

Products Inc.

Canada Ltd.

Holdings B.V.

         

A.   Beginning Balance

 

  3,100,252 

1,383,581 

11,969 

     230,282 

   324,675 

1,428,444 

20,613 

         

B.   Receipts

 

316,916,274 

 16,034,103 

  -    

     150,584 

   352,536 

 865,848 

  -    

         

C.   Balance Available

 

320,016,526 

 17,417,684 

11,969 

     380,866 

   677,211 

2,294,292 

20,613 

         

D.   Less Disbursements

 

(319,565,496)

(15,520,635)

  -    

  (215,610)

 (438,074)

(532,679)

(4,026)

         

E.   Currency Translation Adjustment

    -    

 -    

  -    

  -    

 -    

   45,068 

  -    

         

F.   Ending Balance

 

      451,030 

1,897,049 

11,969 

     165,256 

   239,138 

 1,806,681 

       16,587 

         
         
 

(PLEASE ATTACH COPIES OF MOST RECENT RECONCILED BANK STATEMENTS FROM EACH ACCOUNT)

         
         

1. Deposit Name & Location

 

Deutsche Bank, 60 Wall Street 25th Floor, New York, NY, 10005

  

2. Account Number (last 4 digits only)

 

 

 

 

 

  
         

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

   

2. Account Number (last 4 digits only)

 

 

 

 

 

  
         

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

   

2. Account Number (last 4 digits only)

 

 

 

 

 

  
         

1. Deposit Name & Location

 

Fifth Third Bank, 38 Fountain Square Plaza, Cincinnati, OH, 45263

  

2. Account Number (last 4 digits only)

 

 

 

 

 

  
         

1. Deposit Name & Location

 

Fifth Third Bank, 38 Fountain Square Plaza, Cincinnati, OH, 45263

  

2. Account Number (last 4 digits only)

 

 

 

 

 

  
         

1. Deposit Name & Location

 

PNC Bank, 201 East Fifth Street, Cincinnati, OH, 45202

   

2. Account Number (last 4 digits only)

 

 

 

 

 

  
         

1. Deposit Name & Location

 

PNC Bank, 201 East Fifth Street, Cincinnati, OH, 45202

   

2. Account Number (last 4 digits only)

 

 

 

 

 

  
         

1. Deposit Name & Location

 

Deutsche Bank, 60 Wall Street 25th Floor, New York, NY, 10005

  

2. Account Number (last 4 digits only)

 

 

 

 

 

  
         
   

Form 5

    









1. Deposit Name & Location

 

PNC Bank, 201 East Fifth Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

PNC Bank, 201 East Fifth Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

JP MorganChase, 1675 Chickasaw Drive, London, OH, 43140

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

Fifth Third Bank, 38 Fountain Square Plaza, Cincinnati, OH, 45263

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

Citizens Bank, 328 S. Saginaw Street, Flint, MI, 48502

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

Citizens Bank, 328 S. Saginaw Street, Flint, MI, 48502

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

Citizens Bank, 328 S. Saginaw Street, Flint, MI, 48502

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

Bank of America N.A., 1075 Main Street, 3rd Floor, Waltham, MA, 02451

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

  
      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

   
    
   

Form 5









1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

U.S. Bank, 425 Walnut Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Bank of Nova Scotia, 4519 Dundas Street, Burlington, ON, L7M5B4

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Bank of Nova Scotia, 4519 Dundas Street, Burlington, ON, L7M5B4

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Royal Bank of Canada, 6205 Airport Road, Mississauga, ON, L4V1E1

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Royal Bank of Canada, 6205 Airport Road, Mississauga, ON, L4V1E1

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Royal Bank of Canada, 245 Ouellette Avenue, Windsor, ON, N9A7J2

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Royal Bank of Canada, 245 Ouellette Avenue, Windsor, ON, N9A7J2

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Scotiabank, 101 Main Street, Markham, ON, L3P1X9

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Scotiabank, 101 Main Street, Markham, ON, L3P1X9

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Scotiabank, 101 Main Street, Markham, ON, L3P1X9

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

Scotiabank, 101 Main Street, Markham, ON, L3P1X9

2. Account Number (last 4 digits only)

 

 

 

 

      

1. Deposit Name & Location

 

TD Canada Trust, 2038 Kipling Avenue, Rexale, ON, M9W4K1

2. Account Number (last 4 digits only)

 

 

 

 

     
   

From 5

 









1. Deposit Name & Location

 

TD Canada Trust, 2038 Kipling Avenue, Rexale, ON, M9W4K1

2. Account Number (last 4 digits only)

 

 

   
      

1. Deposit Name & Location

 

PNC Bank, 201 East Fifth Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

 

   
      

1. Deposit Name & Location

 

PNC Bank, 201 East Fifth Street, Cincinnati, OH, 45202

2. Account Number (last 4 digits only)

 

 

  
     
   

Form 5 

 




For bank statements, please reference http://www.kccllc.net/.






















CASH REPORT

 

(BASED UPON A CONSOLIDATED ACCOUNTING OF ALL D-I-P ACCOUNTS)

 
   
   

Case Name:  Milacron Inc.

  
   

Case Number:  09-11235(JVA)

  
   

Month and Year:  March 2009

  
   
   

Beginning Cash Balance (i.e. ending balance from previous report)

$     6,499,816 

 
   

Add: All receipts for the month. Do not include transfers between accounts.

$ 334,319,345 

*

   

Deduct: All disbursements for the month. Do not include transfers between accounts.

$(336,276,519)

*

   

Currency Translation Adjustment

$          45,068 

 
   

Net cash flow

$    (1,912,106)

 
   

Ending cash balance (i.e. next month's beginning cash balance)

$     4,587,710 

 
   

*  Amounts include transfers between accounts.

  

 

 

 
   

REPORT OF UNPAID DELINQUENT POST PETITION TAXES

  
   

List all unpaid tax obligations which have accrued after the date  of the filing of the Chapter 11 petition

 

obligations which are now due and owing (i.e. delinquent), but have, in fact, not been timely paid.

 

Do not list any preparation tax obligations.

  
   

NONE.

  












MONTHLY STATEMENT OF INSIDER COMPENSATION / PAYMENTS

Period Ending: March 31, 2009

      

Case No:

09-11235 (JVA)

 

The following information is to be provided for each shareholder, officer, director, manager, insider, or

owner that is employed by the debtor in possession.

Attach additional pages if necessary.

     
         

Name:

Ross A. Anderson

  

Capacity:

 

Shareholder

      

X

Officer

 
       

Director

 
       

Insider

 
         

Detailed Description of Duties:

Vice President & President Machinery Technologies NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Compensation Paid:

 

Weekly

or

Monthly

  
         
    

 

 

25,670.00

  

Current Benefits Paid:

      
         
 

Health Insurance (company cost)

 

 

579.97

  
         
 

Dental (company cost)

 

 

12.40

  
         
 

LTD 60%

  

 

 

28.67

  
         
 

Life Insurance

 

 

 

618.00

  
         
 

Retirement

 

 

 

 

  
         
 

Company Vehicle

 

 

 

400.00

  
         
 

Entertainment

 

 

 

 

  
         
 

Travel

  

 

 

 

  
         
 

Other Benefits

 

 

 

 

  
         
 

Total Benefits

 

0

 

1,639.04

  
         

Current Other Payments Paid:

 

Weekly

or

Monthly

  
         
 

Rent Paid

  

 

 

 

  
         
 

Loans

  

 

 

 

  
         
 

Other (Describe)

 

 

 

 

  
         
 

Other (Describe)

 

 

 

 

  
         
 

Other (Describe)

 

 

 

 

  
         
 

Total Other Payments

0

 

0.00

  
         

CURRENT TOTAL OF ALL PAYMENTS

Weekly

or

Monthly

  
         
    

0

 

27,309.04

  
         
    

 /s/ Ross A. Anderson

 

 
    

Principal, Officer, Director, or Insider

 

Dated:

May 4, 2009

      
   

Form 6

   











SCHEDULE OF IN-FORCE INSURANCE

Period Ending:  March 31, 2009

     
  

Case No:

09-11235 (JVA)

     

Insurance

   

Expiration

Type

 

Carrier

 

Date

     

General Liability

 

Lexington Insurance Company

 

4/1/2010

     

Auto Domestic

 

Travelers Property Casualty Company of America

 

4/1/2010

     

Auto Canadian

 

St. Paul Fire and Marine Insurance Company

 

4/1/2010

     

Workers' Compensation (excluding OH)

 

The Travelers Indemnity Company of CT

 

4/1/2010

  

Travelers Property & Casualty Insurance Company of America

  
     

Foreign Liability

 

ACE American Insurance Company

 

8/1/2009

     

$5 Million Umbrella

 

Lexington Insurance Company

 

4/1/2010

     

$20 Million Umbrella Excess of $5 Million

 

Arch Specialty Insurance Company

 

4/1/2010

     

$10 Million Excess of $25 Million Umbrella

 

Great American Insurance Company

 

4/1/2010

     

Primary & Excess Directors' and Officers' Liability

 

XL Specialty

 

12/31/2009

  

Axis Insurance Company

  
  

Navigators Insurance Company

  
  

Monitor Liability Managers

  
     

Special Crime

 

U.S. Specialty Insurance Company

 

12/31/2009

     

Crime

 

Federal Insurance Company

 

12/31/2009

     

Primary & Excess Fiduciary

 

Beazley Insurance Company, Inc.

 

12/31/2009

  

Federal Insurance Company

  
     

Excess Ohio Workers' Compensation

 

Arch Insurance Co.

 

7/1/2009

     

Non-Owned Aviation

 

Global Aerospace, Inc.

 

12/31/2009

     

Environmental

 

Chubb Custom Insurance Company

 

12/31/2011

     

Cargo - Domestic

 

Firemans Fund Insurance Company

 

12/31/2009

     

Cargo - Foreign

 

Firemans Fund Insurance Company

 

12/31/2009

     

Surety

 

Customs Bonds - Chubb

 

10/11/2009

    

12/10/2009

  

Notary Bonds - Safeco

 

3/10/2012

     

Travel Accident

 

CIGNA

 

1/1/2010

     

Property

 

Factory Mutual Insurance Company

 

7/1/2009

     
     
     
     
     
     
     
  

Form 7