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GOV. CASEY ANNOUNCES $500,000 LOAN FOR BETHLEHEM STEEL TRACKWORK OPERATION IN STEELTON

 HARRISBURG, Pa., May 17 /PRNewswire/ -- Gov. Robert P. Casey today announced a $500,000 loan that will enable Bethlehem Steel Corp. (NYSE: BS) to continue modernizing its rail products manufacturing division in Steelton.
 The state Department of Commerce Machinery and Equipment Loan Fund (MELF) loan is being awarded to Pennsylvania Steel Technologies, the Bethlehem Steel subsidiary that operates the plant.
 In October, the governor announced that Pennsylvania would invest $5 million for modernization of the trackwork operation. This is the first installment of that investment.
 "We are working with Bethlehem Steel to help modernize the Steelton trackwork operation," Casey said.
 "One year ago the future of this plant was uncertain. But thanks to Bethlehem Steel's renewed commitment to the plant, the efforts of the plant's workers and the surrounding communities, and Pennsylvania's investment, a revitalized manufacturing operation is set to emerge," the governor said. "The result will be preservation of 1,139 jobs."
 Pennsylvania Steel Technologies will use the loan to install head- hardening rail technology and new electric steelmaking furnaces. When the project is completed, the plant will be the only manufacturer of premium head-hardened rails in the country.
 The total cost of this portion of the project is $2.5 million.
 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- 5/17/93
 /CONTACT: Dennis V. Curtin of the Department of Commerce, 717-783-1132/
 (BS)


CO: Pennsylvania Department of Commerce; Bethlehem Steel Corp. ST: Pennsylvania IN: MNG SU:

MK -- PH023 -- 9235 05/17/93 12:49 EDT
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Date:May 17, 1993
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