107-Year-Old U.S. Fastener Manufacturer Adds 50 Skilled Jobs as Aircraft Parts Orders Jump
FEATURE
In-process inspection of fasteners manufactured in Formax Plus Manufacturing Cell with integrated rotary thread rolling (courtesy SPS)
Editor’s Note – For a chronology of the first 100 years of SPS Technologies – including more than 30 acquisitions – click on the Fastener History section of GlobalFastenerNews.com
MEDIA SPOTLIGHT
Manufacturing may be moving away from Philadelphia but one fastener producer was singled out by PhillyNews.com for expanding – including adding 50 skilled jobs thus far this year and plans to add another
Reporter Harold Brubaker noted that “SPS Technologies L.L.C., a company rooted in Philadelphia manufacturing’s glory days of the early 20th century, has not just survived, but appears to be thriving under the ownership of Precision Castparts Corp., of Portland, OR.”
SPS produces bolts that hold wings on jet airplanes and other fasteners for Boeing, Airbus, Lockheed Martin and other aerospace SPS has hired 50 skilled machinists thus far in 2010 and plans to add 20 more.
“I’ve got a backlog of parts that I can’t fill,” said Kevin Stein, who heads the Jenkintown SPS fastener division, told PhillyNews.com.
U.S. Department of Commerce manufacturing data shows an increase in aircraft parts orders jumped from December to January.
The SPS Jenkintown division reported sales in the past quarter were down 11% to $331.1 million.
There are now about 1,000 employees, up from 900 when SPS was acquired by Precision Castparts in 2003 for $729 million.
Employees recently voted against an International Association of Machinists union organization effort.
Precision Castparts has invested tens of millions of dollars in the Jenkintown plant, which dates to 1920, when Standard Pressed Steel Co., as SPS was then known, moved out of North Philadelphia.
Click on the Fastener History section of GlobalFastenerNews.com for a chronology of the first 100 years of Standard Pressed Steel Co.
What year was the name changed to SPS?
What year was the company listed on the NYSE?
When did the continuous presence of the Hallowell family end?
Click on Fastener History
©2010 GlobalFastenerNews.com
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