[Congressional Record (Bound Edition), Volume 145 (1999), Part 21]
[Extensions of Remarks]
[Page 31324]
[From the U.S. Government Publishing Office, www.gpo.gov]



  LARRY A. COLANGELO, FINALIST, MANUFACTURING ENTREPRENEUR OF THE YEAR

                                 ______
                                 

                         HON. ROBERT A. BORSKI

                            of pennsylvania

                    in the house of representatives

                       Monday, November 22, 1999

  Mr. BORSKI. Mr. Speaker, I am proud to report that one of my 
outstanding corporate constituents, Larry A. Colangelo, was selected by 
Ernst & Young as a national finalist for Manufacturing Entrepreneur of 
the Year.
  Larry heads SPD Technologies Inc. on Roosevelt Boulevard in the Third 
Congressional District of Pennsylvania. In the 1980s, SPD had become a 
dedicated supplier of electrical distribution equipment to the Navy. 
With the end of the Cold War, SPD came within a week of closing. Larry 
then took charge and had to figure out how to save the company, its UAW 
workforce and its hundreds of Pennsylvania retirees and their families.
  In 1992, Larry implemented a growth strategy, which included 
development of new products based on commercial designs; record long-
term agreements with labor; diversification into non-military markets; 
and an effective acquisition/consolidation program. At the same time, 
he was determined to stay as a critical part of the Navy's industrial 
base, and to keep faith with his retirees.
  This year, SPD is employing more people than ever at Roosevelt 
Boulevard. The company has become a leading part of L-3 Communications, 
at a value more than twenty times its distress sale before Larry took 
over. When Ernst & Young picked Larry A. Colangelo as a finalist for 
Manufacturing Entrepreneur of the Year, it picked the right man.
  Mr. Speaker, I am proud to recognize Larry Colangelo. He is truly an 
outstanding entrepreneur and a great American citizen.

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