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EXHIBIT  11

Milacron Inc. and Subsidiaries
Computation of Per-Share Earnings

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|--------------------------------------------------- | ---------------------------------------------------- | --------------------------------------------------- | ------------------- | -------- | ----- | ----- | ------- | ------- | ---- | ----- | ------ | ------ | ---- | ---- | 
|(In thousands, except per-share amounts)            |                                                      | 2002                                                |                     | 2001     |       | 2000 
|                                                    |                                                      |                                                     |                     |          |       |      
|Earnings (loss) from continuing operations          |                                                      | $                                                   | (18,412             | )        |       | $     | (28,734 | )       |      | $     | 48,844 |       
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|Earnings (loss) from discontinued operations        |                                                      |                                                     | (16,816             | )        |       |       | (6,926  | )       |      |       | 23,501 |       
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|Cumulative effect of change in method of accounting |                                                      |                                                     | (187,713            | )        |       |       |        |         |      |       |       |       
|                                                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
|                                                    | Net earnings (loss)                                  |                                                     |                     | (222,941 | )     |       |         | (35,660 | )    |       |        | 72,345 |     
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|                                                    | Less preferred dividends                             |                                                     |                     | (240     | )     |       |         | (240    | )    |       |        | (240   | )   
|                                                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
|                                                    | Net earnings (loss) available to common shareholders |                                                     | $                   | (223,181 | )     |       | $       | (35,900 | )    |       | $      | 72,105 |     
|                                                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
|Basic earnings (loss) per share:                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
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|                                                    | Weighted-average common shares outstanding           |                                                     |                     | 33,482   |       |       |         | 33,222  |      |       |        | 34,935 |     
|                                                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
|                                                    | Per share amount:                                    |                                                     |                     |          |       |       |         |         |      |       |        |        |     
|                                                   
|                                                   
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|                                                    |                                                      | Continuing operations                               |                     | $        | (.56  | )     |         | $       | (.87 | )     |        | $      | 1.39 |     
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|                                                    |                                                      | Discontinued operations                             |                     |          | (.50  | )     |         |         | (.21 | )     |        |        | .67  |     
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|                                                   
|                                                    |                                                      | Cumulative effect of change in method of accounting |                     |          | (5.61 | )     |         |         |     |       |        |        |     |     
|                                                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
|                                                    |                                                      |                                                     | Net earnings (loss) |          | $     | (6.67 | )       |         | $    | (1.08 | )      |        | $    | 2.06 | 
|                                                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
|Diluted earnings (loss) per share:                  |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
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|                                                    | Weighted-average common shares outstanding (a)       |                                                     |                     | 33,482   |       |       |         | 33,222  |      |       |        | 35,046 |     
|                                                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
|                                                    | Per share amount:                                    |                                                     |                     |          |       |       |         |         |      |       |        |        |     
|                                                   
|                                                   
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|                                                    |                                                      | Continuing operations                               |                     | $        | (.56  | )     |         | $       | (.87 | )     |        | $      | 1.39 |     
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|                                                   
|                                                    |                                                      | Discontinued operations                             |                     |          | (.50  | )     |         |         | (.21 | )     |        |        | .67  |     
|                                                   
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|                                                   
|                                                    |                                                      | Cumulative effect of change in method of accounting |                     |          | (5.61 | )     |         |         |     |       |        |        |     |     
|                                                    |                                                      |                                                     |                     |          |       |       |         |         |      |       |        |       
|                                                    |                                                      |                                                     | Net earnings (loss) |          | $     | (6.67 | )       |         | $    | (1.08 | )      |        | $    | 2.06 | 
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|(a) |  | In 2002 and 2001, potentially dilutive stock options and restricted shares
are excluded because their inclusion would result in a smaller loss per
common share.
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