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Show McNally future decided this week Rv r.m . Talks u, n l LKNARD a an erf!, , gin in the next week McXau St PVrVe Ver 300 jbs at anvk , ln Lindon- The lclingdate 6ntly fadng 3 May ,a"'Ctfficials bounced last Vheni lW0Uld have 10 close a"Ployeefoandearlier this 'ear attempt to h grUp was formed t0 Krent company P'ant from the CSedibiiity Study has been andlhere ,H explore the venture resuIs of that study will be J out this week. Ken Chorniak, a spokesman for the employee group, said that the study involved several different committees and some business professors from BYU and has taken several months to complete. Chorniak stated that McNally officials in Pittsburgh were receptive to the idea of a buy out and are willing to help out within reason. The main problem, though, is financing. The asking price for the plant is $6.5 million and Chorniak said that See McNally's Page 3 4 McNally's future Continued from page 1 a lot depends on just how much help company officials are willing to provide. "Right now we're trying for a split financing," he said, "with McNally carrying part of the contract and outside sources and individual participants providing the rest." About 120 of the over 300 employees are interested in owning a share of the company. State officials expressed concern over the closing and a spokesman for the Utah Community and Economic Development Association said that their agency might be able to help the employees group secure a government loan, but advised them to proceed with all talks before the state becomes officially involved. Negotiations will start later this week and Chorniak said he is hopeful of reaching an agreement by mid-June. In the meantime, a management spokesperson said that layoffs are , going according to schedule and that the plant should be closed by the May 1 deadline with office personnel remaining for another month. |