Neeltran noted for economic growth initiatives
Published 7:17 pm, Wednesday, December 11, 2013
Neeltran, Inc. in New Milford has been honored by the Connecticut Economic Resource Center, Inc. as one of the state's "Most Notable Economic Growth Initiatives To Be Recognized For Contribution."
"These awards pay tribute to the hardworking people and successful programs and projects that are stimulating new jobs and investment in our economy," said CERC president and CEO Robert Santy. "CERC is proud to recognize the 2013 honorees, and the many successes making a positive impact on our business environment."
Hosted by CERC, more than 150 economic development and business professionals from around the state will attend CELEBRATE CT! to recognize top companies, projects, programs, organizations and individuals for their contribution to the state's economy.
Examples are consistent or growing employment levels, role in changing the character of its community or civic engagement, strong public/private collaboration to encourage new investment, or leadership resulting in regional growth or improvements.
Twenty companies statewide were honored Nov. 26 at the Bushnell Theater in Hartford.
Neeltran ranks as one of the top producers of large DC power systems and transformers in the world.
Some of its transformers weigh more than 225,000 pounds.
Neeltran is one of the few companies in the world to design and manufacture its own rectifier-transformers and rectifiers in the same facility, under one management team.
The New Milford firm is also unique because it is family-owned and operated while most of its competitors are publically traded companies.
Neeltran competes on a global basis daily and wins a high percentage of orders in its market.
The Capanna family has accumulated a team of engineers, sales, quality and manufacturing personnel.
In 2006 and 2009, Neeltran completed two major expansions by adding a high bay facility and a machining area, increasing its footprint to 85,000 square feet.
The large transformer/DC power supply market is capital intensive.
Neeltran has recently invested millions of dollars into its facility, machinery and personnel and is undergoing another 10,080-square-foot expansion.
Neeltran sales have grown 325 percent in the last 10 years. Its consistent growth has resulted in additional expansion needs.
For more information, visit neeltran.com.