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Hillenbrand to Present at Sidoti Virtual Investor Conference 2021
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Hillenbrand to Present at Sidoti Virtual Investor Conference 2021
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Hillenbrand sales up 14% for molding, processing equipment
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Molding machinery demand helps drive growth at Hillenbrand
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BATESVILLE, Ind. Hillenbrand Inc. reported strong results for its second quarter with an 11 percent increase in sales to $722 million driven by growth in two of its three operating segments.
Higher sales for the Molding Technology Solutions (MTS) unit, which was Milacron Holdings Corp. before it was acquired in 2019, and the burial casket business offset a drop for the Advanced Process Solutions (APS) unit, which manufactures industrial equipment.
In MTS, sales climbed 28 percent, a $56 million increase to $255 million, compared to the prior-year period. The unit sells injection molding, extrusion and hot runner equipment and aftermarket parts and service.
Operator
Greetings and welcome to the Hillenbrand Q1 Fiscal Year 2021 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host Kaveh Bakhtiari, Senior Director of Investor Relations. Please go ahead.
Kaveh Bakhtiari
Senior Director of Investor Relations
Thank you. Good morning everyone and welcome to Hillenbrand s first quarter fiscal 2021 conference call. I m joined by our President and CEO, Joe Raver; and our Senior Vice President and CFO, Kristina Cerniglia.