Global Fastener News

May 8, 1992 – SPS Technologies, Inc., Newton, Pennsylvania, will be consolidating its Unbrako socket head cap screw manufacturing operations into its Cleveland, Ohio, plant which at one point last year was slated for closing.

As you’ll recall, at its February 6, 1992 meeting, the Board of Directors of SPS Technologies approved a modification of the company’s strategic restructuring plan initially announced on May 3, 1992 (see FIN, June 4, 1991) which also called for the sale of most of SPS’s non-U.S. fastener operations. Pursuant to the modification, the company will retain its Cleveland, Ohio automotive fastener business and implement a consolidation of a significant part of its Unbrako socket head cap screw manufacturing operations into the Cleveland plant. This Unbrako product is currently being produced at the company’s Puerto Rico manufacturing facility which will be closed and sold.
According to John R. Selby, chairman and chief executive officer, “The decision to retain Cleveland represents our commitment to remain a significant supplier of high- strength engineered fasteners to the North American automotive market for critical engine and drive train applications. We are very pleased that this transfer of Unbrako manufacturing operations to Cleveland gives us the opportunity to utilize that facility’s manufacturing and technological capabilities to serve our Unbrako customers as well as our automotive fastener customers.”
The Puerto Rico plant is currently manufacturing socket head cap screws. The transfer of equipment to Cleveland will begin in late June or July and is scheduled to be completed by the end of 1992. The company intends to close and sell the plant and is seeking a buyer at this time.
The Puerto Rico plant is 136,000 sq.ft. in size and has approximately 130 employees. It was built by SPS in 1969.
The Cleveland plant was built in 1955 and 1956 by the Cleveland Cap Screw Company which was acquired by SPS Technologies in 1955.
Robert Conrad, formerly manager of the Aerospace products Division plant in Jenkintown, Pennsylvania, is now manager of the Cleveland plant, filling a position that had been vacant.
Joseph Brosso, formerly vice president, operations, for the Unbrako Products Division, is now plant manager at Jenkintown, a position he has held in the past.
Morrie Feinman, plant manager at Puerto Rico, will be given another assignment at SPS Technologies after the plant is closed.
According to FIN’s records SPS Technologies has manufacturing plants in the following locations in the U.S.: Santa Ana, California; Marengo, Illinois; Muskegon and Walled Lake, Michigan; Ogallala, Nebraska; Cleveland, Ohio; Jenkintown and Fort Washington, Pennsylvania; Sevierville, Tennessee; and Salt Lake City, Utah.
Outside the U.S. there are subsidiaries and affiliates in Australia, Brazil, Canada, Denmark, England, France, Germany, India, Ireland, Italy, Japan, Mexico, and South Korea.
SPS Technologies, incorporated in 1902, designs, manufactures and markets high-strength precision fasteners, fastening systems, superalloys and magnetic materials. Total company sales in 1991 were $374 million ($290 million in fastener sales), with net earnings of $6.6 million. ©1992 / 2014 Fastener Industry News.
For information on permission to reuse or reprint this article please e-mail: FIN@GlobalFastenerNews.com