Montgomery County Commissioner Neil K. Makhija is asking billionaire investor Warren Buffett for help, writes Robert Moran for the Philadelphia Inquirer.
Makhija spoke on behalf of the hundreds of workers facing layoffs following the devastating fire at SPS Technologies.
SPS, an aerospace parts manufacturer in Abington, suffered a massive four-alarm fire last month, forcing school closures, evacuations, and partial demolition of the facility. While no one was seriously hurt, the damage was significant.
The 105-year-old company, which supplies fasteners for Boeing, NASA, and the military, is owned by Precision Castparts, a subsidiary of Buffett’s Berkshire Hathaway. Despite decades of service, affected employees were offered only four weeks of pay, and roughly 250 workers now face job losses.
“SPS workers have taken great pride in the company,” Makhija wrote in a letter to Buffett, urging Berkshire to invest in rebuilding the plant and supporting its employees. “But (SPS) needs substantial investment to recover, and so does the immediate surrounding community.” He pointed out that the firm has over $334 billion in cash reserves, saying, “A rounding error in Berkshire’s portfolio could mean everything to the families affected by this tragedy.”
SPS announced it will continue full base pay through May 18 and extend benefits until the end of May.
Read more about SPS Technologies in the Philadelphia Inquirer.
