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PHOENIX TUBE RECEIVES $250,000 STATE LOAN

 PHOENIX TUBE RECEIVES $250,000 STATE LOAN
 HARRISBURG, Pa., Dec. 20 /PRNewswire/ -- Gov. Robert P. Casey today


announced the approval of a $250,000 state loan to help Phoenix Tube Co. Inc., Bethlehem, Northampton County, purchase machines and equipment.
 Phoenix Tube recently relocated from New Jersey to Bethlehem's Enterprise Zone, bringing 99 jobs. The purchase of new machinery and equipment will create an additional 14 jobs.
 "Enhancing development in economically distressed regions of the state is the goal of Pennsylvania's Enterprise Zone program," Casey said. "Bringing companies like Phoenix Tube to Bethlehem's Enterprise Zone means new jobs and new hope for the area's working men and women and their families."
 Phoenix Tube manufactures stainless steel, ornamental and structural tubing.
 The Governor's Response Team worked with Phoenix Tube to acquire 13 acres of land and construct a 108,000-square-foot building in the Bethlehem Industrial Park.
 Phoenix Tube plans to improve its Bethlehem mill to produce a heavier tube. The company is upgrading nine other mills to allow for more consistent, efficient and better quality products. The loan to purchase the equipment for the Bethlehem mill is from the Department of Commerce's Machinery and Equipment Loan Fund.
 Total machinery and equipment costs are $500,000, with bank financing providing $200,000 and the company $50,000.
 Previously, Phoenix Tube received a $1.6 million loan through the Pennsylvania Industrial Development Authority, a $1.3 million grant through the Business Infrastructure Development program, $2.25 million in bonds from the Pennsylvania Economic Development Financing Authority and $500,000 from the Department of Community Affairs.
 -0- 12/20/91
 /CONTACT: Heidi Irwin of the Department of Commerce, 717-783-1132, or Charles M. Tocci of the Commonwealth News Bureau, 717-783-1116/ CO: Phoenix Tube Co. Inc.; Office of the Governor ST: Pennsylvania IN: SU:


KA -- PH020 -- 4355 12/20/91 12:06 EST
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Date:Dec 20, 1991
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