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Morgal Machine Earns Job-Creation Tax Credit
to Help Fund Diversification Project

Wednesday, September 9, 2009
 
Metalforming company Morgal Machine and Tool, Springfield, OH, one of the McGregor Metalworking Companies, has received a 40-percent six-yr. job-creation tax credit estimated to be worth more than $27,000. The credit will help the firm implement a three-yr. diversification program that includes plans for more than $2 million in capital expenditures. Morgal Machine supplies the automotive industry, as well as the locomotive, agricultural and lawn-and-garden industries, with stamped sprockets, pulleys, and other metal parts and assemblies. The first new market on its target list is the fitness industry, for which it plans, by year-end, to produce treadmill frames. It also sees opportunities to expand its lawn and garden business, with plans to launch a new product in 2011; production of a redesigned tractor component should begin in 2011-2012. Learn more at www.morgal.com.

 

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