ABINGTON TOWNSHIP, Pa. (KYW Newsradio) — A Montgomery County commissioner is asking billionaire investor Warren Buffett for help to prevent the layoffs of some 250 employees from SPS Technologies, nearly a month after a fire at its Abington factory.
Commissioner Neil Makhija penned a letter to Buffett, whose company Berkshire Hathaway owns SPS Technologies, asking the 94-year-old to reinvest in the company and stave off the massive layoffs.
“I’d like to ask Mr. Buffett and Berkshire Hathaway to realize that there is a place to invest their money,” Makhija said. “There is a worthy place, and it is right here in the workers of SPS in their own company. It’s right here in Montgomery County.”
The commissioner said he wrote the letter to Buffet before learning about the SPS layoffs, but now it takes on new meaning as around half of the company’s workforce hangs in the balance. Without those workers, he said the county will lose jobs that hold deep historical significance for the community.
“It’s devastating for people who have worked here. In many cases, for decades,” Makhija said. “This company has been here for 120 years in the community.”
In his letter, the commissioner also appealed to the importance of SPS’ work, providing fasteners for military planes and helicopters.
“This is a company that’s a critical American business for our national security, and it’s one that is worthy of significant investment,” he said.
The fire, described as one of the worst in Montgomery County, burned over seven days between Feb. 17 and the 22nd. No injuries were reported, but officials ordered evacuations due to air quality concerns.