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MINORITY FIRM RECEIVES STATE GRANT TO STUDY EMPLOYEE OWNERSHIP

 HARRISBURG, Pa., Aug. 25 /PRNewswire/ -- The state Department of Commerce has awarded a $37,346 grant that will enable a minority-owned Pittsburgh firm to determine the feasibility of employee ownership, Commerce Secretary Andrew T. Greenberg announced today.
 GlobalTex Industries Inc., a new firm that plans to convert to employee ownership, received state funds to conduct a feasibility study through the Employee Ownership Assistance Program.
 A recently completed pre-feasibility study reported that the company may be a candidate for employee ownership.
 GlobalTex plans to manufacture window treatments and coverings and also plans to hire 106 unskilled workers and train them through the state's Customized Job Training program.
 The company also is seeking funding from the Pennsylvania Industrial Development Authority, the Urban Renewal Authority of Pittsburgh, the Pennsylvania Minority Business Development Authority and the Ben Franklin Partnership.
 In order to be considered for funding, the company must conduct the employee ownership feasibility study. The study will determine the present and future value of GlobalTex's planned products, the cost of converting to employee ownership and training costs.
 -0- 8/25/93
 /CONTACT: Jon Harwood of Commonwealth News Bureau, 717-783-1132/


CO: Pennsylvania Department of Commerce; GlobalTex Industries, Inc. ST: Pennsylvania IN: SU:

CD -- PG005 -- 0364 08/25/93 13:04 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
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