Lionel had diversified into other businesses and was looking to leave the toy train market. As a result, in 1969 Lionel reached an agreement with General Mills to begin making Lionel trains under license beginning in 1970. General Mills assigned the Lionel division to its subsidiary Model Products Corporation [MPC], and a new era of Lionel trains was born.
By the way when your little engine came out MPC only made a small Hudson, a simplified 0-4-0 die cast steam switcher and your Docksider. Don