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GOV. CASEY ANNOUNCES STATE FUNDING FOR BERKS COUNTY FIRM

 GOV. CASEY ANNOUNCES STATE FUNDING FOR BERKS COUNTY FIRM
 HARRISBURG, Pa., Oct. 7 /PRNewswire/ -- Gov. Robert P. Casey announced today the approval of $252,500 in state funding to help a Berks County firm reopen a manufacturing plant and create 63 jobs.
 The funding, awarded through the Machinery and Equipment Loan Fund (MELF), will help Cobra Anchors Corp. purchase equipment from Molly Fasteners, a metal products manufacturer in Temple. Cobra Anchors is buying the Molly Fasteners plant from the Black and Decker Corp.
 "Through the work of the Governor's Response Team, we helped Black and Decker find a buyer for a plant which had closed its doors earlier this year and help the new buyer obtain financing," Casey said. "For Berks County, this means new jobs and economic opportunities."
 The MELF loan brings to more than $754,000 the total amount of state financing Cobra Anchors has received for the opening of the plant. Earlier, the company received a $302,480 loan from the Pennsylvania Industrial Development Authority and a $200,000 loan from the Pennsylvania Capital Loan Fund.
 Cobra Anchors manufactures metal sleeve anchors and bolts.
 The MELF program 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- 10/7/92
 /CONTACT: Dennis V. Curtin of the Department of Commerce, 717-783-1132/ CO: Pennsylvania Governor's Office; Cobra Anchors Corp.; Black and
 Decker Corp. ST: Pennsylvania IN: SU:


MP -- PH018 -- 7504 10/07/92 13:58 EDT
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Publication:PR Newswire
Date:Oct 7, 1992
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