##### 



Exhibit  11

Milacron Inc. and Subsidiaries
Computation of Per-share Earnings

|                                                                             |                                                            |                                    |                  |                  |   |       |        |        |     |      |        |        |     |      |        | 
|---------------------------------------------------------------------------- | ---------------------------------------------------------- | ---------------------------------- | ---------------- | ---------------- | - | ----- | ------ | ------ | --- | ---- | ------ | ------ | --- | ---- | ------ | 
|(In thousands, except per-share amounts)                                     |                                                            | 2001                               |                  | 2000             |   | 1999 
|                                                                            
|Net earnings (loss)                                                          |                                                            | $                                  | (35,660          | )                |   | $     | 72,346 |        |     | $    | 70,080 |       
|Preferred dividends                                                          |                                                            |                                    | (240             | )                |   |       | (240   | )      |     |      | (240   | )     
|                                                                             |                                                            |                                    |                  |                  |   |       |        |        |     |      |        |       
|                                                                             | Net earnings (loss) available to common shareholders       |                                    | $                | (35,900          | ) |       | $      | 72,106 |     |      | $      | 69,840 |    
|                                                                             |                                                            |                                    |                  |                  |   |       |        |        |     |      |        |       
|Basic
earnings (loss) per share
Weighted-average common shares
outstanding   |                                                            |                                    | 33,222           |                  |   |       | 34,935 |        |     |      | 36,847 |       
|                                                                             |                                                            |                                    |                  |                  |   |       |        |        |     |      |        |       
|                                                                             |                                                            |                                    | Per share amount |                  | $ | (1.08 | )      |        | $   | 2.06 |        |        | $   | 1.90 |       
|                                                                             |                                                            |                                    |                  |                  |   |       |        |        |     |      |        |       
|Diluted
earnings (loss) per share
Weighted-average common shares
outstanding |                                                            |                                    | 33,222           |                  |   |       | 34,935 |        |     |      | 36,847 |       
|                                                                             | Add dilutive effect of stock options and restricted shares |                                    |                  |                  |   |       |        |        |     |      |        |        |    
|                                                                             |                                                            | Based on treasury stock method (a) |                  |                  |  |       |        |        | 111 |      |        |        | 202 |     
|                                                                             |                                                            |                                    |                  |                  |   |       |        |        |     |      |        |       
|                                                                             |                                                            |                                    |                  | Total            |   |       | 33,222 |        |     |      | 35,046 |        |     |      | 37,049 | 
|                                                                             |                                                            |                                    |                  |                  |   |       |        |        |     |      |        |       
|                                                                             |                                                            |                                    |                  | Per share amount |   | $     | (1.08  | )      |     | $    | 2.06   |        |     | $    | 1.89   | 
|                                                                             |                                                            |                                    |                  |                  |   |       |        |        |     |      |        |       



|(a) |  | In 2001, potentially dilutive stock options and restricted shares are
excluded because their inclusion would result in a smaller loss per common share.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------