Plastics Maker Hillenbrand Is Said to Weigh Potential Sale

Hillenbrand Inc. is exploring strategic options, including a potential sale, people familiar with the matter said.

The plastic parts and equipment maker is working with an adviser to gauge interest from potential buyers, according to the people, who asked not to be identified discussing confidential information.

Shares in Hillenbrand have lost almost a third of their value in New York trading over the last 12 months, leaving the company with a market value of about $1.7 billion.

Deliberations are ongoing and there’s no guarantee they’ll result in a sale, the people sale. A representative for Batesville, Indiana-based Hillenbrand declined to ...