Printer Friendly

STATE AWARDS EMPLOYEE OWNERSHIP GRANT FOR BEAVER COUNTY FIRM

 HARRISBURG, Pa., Oct. 8 /PRNewswire/ -- The state Department of Commerce has approved a $5,000 grant to help the workers of Teledyne Pittsburgh Tool Steel in Beaver County examine the possibility of employee ownership.
 The Employee Ownership Assistance Program (EOAP) grant was awarded to the company's management and employees.
 Located in Monaca, Pa., Teledyne Pittsburgh Tool Steel manufactures cold drawn special shapes and related tool items, employing 70 people with annual sales of $10 million. The firm announced in early 1992 that it may close by the end of this year.
 The state grant will pay for a pre-feasibility study that will examine the market for cold drawn products, which undergo a manufacturing process that conforms the shape of metal by pulling it through a carbide die.
 EOAP grants are awarded to new, expanding or troubled companies interested in sharing ownership with employees. Funds can be used for pre-feasibility, feasibility or technical assistance studies.
 -0- 10/8/93
 /CONTACT: Deborah Jurgill of Commonwealth News Bureau, 717-783-1132/


CO: Pennsylvania Department of Commerce; Teledyne Pittsburgh Tool Steel ST: Pennsylvania IN: SU:

CD -- PG016 -- 0291 10/08/93 16:11 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1993
Words:188
Previous Article:IBM CORP. $925 MILLION SHELF REGISTRATION RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:WILMINGTON TRUST ACQUISITION OF FREEDOM VALLEY BANK COMPLETED
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters