The Macton Corporation, an Oxford, Conn.-based organization that handles engineering, fabricating and installing industrial machinery and equipment, received a $650k loan from Connecticut Innovations.
The company intends to use the proceeds to purchase equipment and expand growth.
Led by Peter McGonagle, president, and relocated to Oxford in 1999, the Macton Corporation acquired the transportation equipment product lines of two companies, Joyce-Dayton Corporation in 1999 and A.T. Moeller Corporation in 2000, which provided it with a complete line of lifting and accessory equipment for the maintenance and servicing of transit cars and locomotives, as well as a full line of railway sanding equipment. In addition to its strength in rail maintenance, the company’s original turntable installations have been in continuous operation since the early 1950s.
FinSMEs
12/06/2014