PHILADELPHIA (KYW Newsradio) — SPS Technologies has reached a settlement with neighbors after a fire at its Abington Township factory burned for days last year.
The February 2025 disaster gutted the 500,000-square-foot SPS building. No one inside the facility was hurt.
The aerospace fastener manufacturing company will set up a $5 million fund for those who said they were injured or sustained property damage.
Affected businesses can receive up to $5,000. Property owners can claim up to $300. There’s also money for hourly workers who lost wages.
A judge must approve the settlement.
SPS said it hopes to complete a new factory on the same grounds by 2028.
