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GOV. CASEY ANNOUNCES $5 MILLION TO SUPPORT BETHLEHEM STEEL MODERNIZATION AT STEELTON PLANT

 GOV. CASEY ANNOUNCES $5 MILLION TO SUPPORT
 BETHLEHEM STEEL MODERNIZATION AT STEELTON PLANT
 HARRISBURG, Pa., Oct. 28 /PRNewswire/ -- Gov. Robert P. Casey today hailed Bethlehem Steel Corp.'s announcement that it will modernize its Steelton Rail Products and Pipe Division and announced the state will provide $5 million over the next two years to assist in upgrading the facility.
 "We are using our resources to invest in people and jobs by helping the company improve its operations and its competitiveness," Casey said.
 The $5 million will be provided in low-interest loans through the Economic Development Partnership and Machinery and Equipment Loan Fund programs.
 The company said that through the modernization it plans to establish the division as the low-cost North American producer of high- quality railroad rails and semi-finished steel products.
 "It is good news for the company and all Pennsylvanians that Bethlehem Steel Corp. has approved plans to modernize the Steelton Rail Products and Pipe Division," Casey said.
 "This is an investment that will help the division remain as the nation's largest rail supplier. It is an investment that will ensure that the division continues to produce the highest quality rail.
 "The Commonwealth, through the Department of Commerce and the Governor's Response Team, has continued to work with Bethlehem Steel Corp. as it has sought new buyers for operations in Johnstown and Steelton."
 The Commonwealth has announced plans to provide $1 million in low- interest financing to support the sale of Bethlehem Steel Corp.'s wire mill operation in Johnstown to TMB Industries of Chicago, and to J-Pitt Steel Co., which is buying the Gautier mill in Johnstown.
 "We are committed to continuing our support for Bethlehem Steel Corp. and the United Steelworkers Union to provide financial assistance as it is needed to preserve these important manufacturing jobs," the governor said.
 /delval/
 -0- 10/28/92
 /CONTACT: Ron Jury of the Department of Commerce, 717-783-1132/ CO: Department of Commerce; Pennsylvania Governor's Office ST: Pennsylvania IN: SU:


JS -- PH060 -- 6311 10/28/92 17:55 EST
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Publication:PR Newswire
Date:Oct 28, 1992
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