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OVER $645,500 IN MACHINERY AND EQUIPMENT LOANS TO CAMERON AND WESTMORELAND COUNTY PROJECTS

 HARRISBURG, Pa., Jan. 5 /PRNewswire/ -- State Commerce Secretary Andrew T. Greenberg today announced the approval of more than $645,500 in machinery and equipment loans to help companies in Cameron and Westmoreland counties expand and create jobs.
 The funds are provided through the state Department of Commerce's Machinery and Equipment Loan Fund (MELF). The projects are expected to create 72 jobs within three years while retaining 24 existing jobs.
 "We are investing state funds in growing industries while creating and preserving jobs throughout the commonwealth," Greenberg said. "Through state financing we're helping companies boost productivity and enhance their competitiveness."
 American Sintered Technologies Inc., of Emporium, was awarded a $272,500 MELF loan. The company manufactures custom powdered-metal engine parts for the automotive industry. It also manufactures parts for lawn and garden power tools and appliances.
 The company will use the loan to purchase furnaces and other equipment that will enable it to increase productivity.
 The total cost of the project is $545,000. Twenty-one jobs are expected to be created.
 St. George Crystal Ltd., located in Jeannette, was awarded a $374,000 MELF loan.
 The manufacturer produces crystal stemware, barware, giftware and lamp components.
 The company will purchase machine and tool equipment while establishing a shop to manufacture mold equipment, which will reduce the development time of its products and improve quality control.
 The total project cost is $748,000. The project is expected to create 51 jobs and retain 24 existing jobs.
 Machinery and equipment loans are awarded to manufacturing plants, industrial sites, agricultural processors and mining operations and can be used to upgrade existing facilities or to purchase related equipment.
 -0- 1/5/94
 /CONTACT: Deborah J. Gownley of the Commonwealth News Bureau, 717-783-1132/


CO: Department of Commerce ST: Pennsylvania IN: SU:

CK -- NY062 -- 9430 01/05/94 15:23 EST
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Publication:PR Newswire
Date:Jan 5, 1994
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