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$500,000 MELF LOAN APPROVED FOR DELAWARE COUNTY CARTON MANUFACTURER

 HARRISBURG, Pa., Nov. 2 /PRNewswire/ -- Acting Pennsylvania Gov. Mark S. Singel today announced the approval of a $500,000 state loan that will enable a Delaware County carton manufacturer to modernize its operation, allowing it to preserve 130 jobs and create 26 others.
 The loan from the Machinery and Equipment Loan Fund (MELF) is being awarded to the Dee Paper Co. in Chester, Pa.
 "This loan will enable Dee Paper Co. to add increased flexibility to its manufacturing operation," Singel said. "In every region of the commonwealth, we are using state machinery and equipment loans to help Pennsylvania manufacturers modernize and upgrade their operations as they compete in an increasingly global marketplace."
 Established in 1921, Dee Paper Co. manufactures paper board products for the bakery, hardware, candy and novelty industries. The company will use the loan to acquire printing and die-cutting equipment.
 The new equipment will enable the company to provide quick changeover between products and will allow it to operate from standard stock sizes rather than special stock mill orders.
 Dee Paper will invest $780,287 in the project. Total project cost is $1,580,287.
 MELF is targeted to industrial and manufacturing companies, agricultural processors and mining operations. The loans may be used for the acquisition and upgrading of machinery and equipment.
 /delval/
 -0- 11/2/93
 /CONTACT: Dennis V. Curtin of Commonwealth News Bureau, 717-783-1132/


CO: Dee Paper Co. ST: Pennsylvania IN: PAP SU:

DM -- PG009 -- 9626 11/02/93 11:56 EST
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Publication:PR Newswire
Date:Nov 2, 1993
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