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GOV. CASEY HAILS BETHLEHEM STEEL CORP.'S MODERNIZATION, REORGANIZATION PLANS

 HARRISBURG, Pa., Jan. 27 /PRNewswire/ -- Gov. Robert P. Casey today hailed Bethlehem Steel Corp.'s announcement that its board of directors has approved a modernization plan for the company's Structural Products Division in Bethlehem.
 According to the company, the plan is contingent on development of a satisfactory business plan.
 The governor also applauded the company's reorganization of the Bethlehem-based BethForge forging and roll-casting operations into two separate business units -- BethForge Forging Division and CENTEC.
 "It's good news for the company, the Lehigh Valley and all Pennsylvanians that Bethlehem Steel Corp. has given preliminary approval to modernizing its Structural Products Division," Casey said.
 "This decision to modernize will enhance the company's competitiveness by bringing world-class technology to the Bethlehem facility," the governor said. "This means a major economic investment by Bethlehem Steel Corp. in its Lehigh Valley operations.
 "The Structural Products Division is a recognized leader in the industry, and today's decision by the company will enhance its reputation."
 The Structural Products Division is a leading supplier of structural shapes for the construction industry.
 "I also commend the leadership of Bethlehem Steel Corp. and the United Steelworkers of America for working together in reaching tentative agreement on new labor contracts for the BethForge and CENTEC operations. Such cooperation is essential to the success of these two operations in the face of intense competition," Casey said.
 "By establishing separate business units, the company expects to improve its competitiveness and employ the latest technology," the governor said.
 Today's announcement comes a little more than a month after Bethlehem Steel Corp. announced the creation of a new subsidiary, Pennsylvania Steel Technologies, to modernize and operate its Steelton Rail Products and Pipe Division.
 As part of that announcement, Casey said the state would provide $5 million over the next two years to assist in upgrading the Steelton facility. The company plans to invest more than $70 million to modernize the Steelton division and establish it as the low-cost North American producer of high-quality railroad rails and semi-finished steel products.
 "Pennsylvania is committed to continuing its support for Bethlehem Steel Corp. and the United Steelworkers Union to provide financial and other assistance as it is needed to preserve these vital manufacturing jobs," Casey said.
 /delval/
 -0- 1/27/93
 /CONTACT: Ron Jury of the Department of Commerce, 717-783-1132/


CO: Pennsylvania Governor's Office; Bethlehem Steel Corp. ST: Pennsylvania IN: SU:

MJ -- PH039 -- 9890 01/27/93 16:51 EST
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Date:Jan 27, 1993
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