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WORLDCLASS PROCESSING RECEIVES $500,000 STATE LOAN

 WORLDCLASS PROCESSING RECEIVES $500,000 STATE LOAN
 HARRISBURG, Pa., Nov. 26 /PRNewswire/ -- Gov. Robert P. Casey today


announced a $500,000 loan to WorldClass Processing Inc. to help purchase machinery and equipment needed for its new steel processing plant in the Port Ambridge Industrial Park, Beaver County, Pa.
 WorldClass plans to process hot-rolled steel coils, creating 144 jobs within three years. The loan is from the Department of Commerce's Machinery and Equipment Loan Fund.
 "Pennsylvania's companies remain productive and competitive because we invest in our manufacturing facilities," Casey said.
 Total machinery and equipment costs are $1 million, with WorldClass Processing providing the remaining $500,000.
 WorldClass' principal customers include manufacturers, distributors and suppliers for the automotive, farm equipment and the appliance industries.
 Previously, WorldClass received a $2 million loan through the Pennsylvania Industrial Development Authority (PIDA) and a $724,500 grant through the Business Infrastructure Development (BID) program to help cover costs associated with locating in the Port Ambridge Industrial Park and developing the site.
 -0- 11/26/91
 /CONTACT: Heidi Irwin, 717-783-1132, or Bette Phelan, 717-783-1116, both of Commonwealth News Bureau/ CO: Gov. Robert P. Casey; WorldClass Processing Inc. ST: Pennsylvania IN: SU:


CD -- PG008 -- 7303 11/26/91 12:38 EST
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Publication:PR Newswire
Date:Nov 26, 1991
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