Steel success forged on Teesside

A Teesside-based manufacturing firm is celebrating rapid growth, international recognition and plans for further expansion following a major industry award.

Middlesbrough-headquartered Paralloy has been awarded the King’s Award for International Trade in recognition of its global success, with over 90 per cent of its specialist stainless steel products exported worldwide.

Since changing ownership less than six years ago, the company has boosted revenues from £30 million to £230 million and grown its workforce from 220 to 560 across sites in Middlesbrough, Billingham and Sheffield.

The firm has also expanded into Europe with the acquisition of a major French business, bringing the group’s headcount to more than 1,100 and its manufacturing space to nearly one million sq ft.

Robert McGowan, chief executive of Paralloy, said the company’s growth had persisted despite a series of global challenges, including Brexit, Covid, soaring inflation, the energy crisis and now US tariffs.

He said: “We should recognise that there are not many companies around who have been able to grow consistently year after year in this context.

“The best is yet to come.”

Johanna Ropner, His Majesty’s Lord-Lieutenant for North Yorkshire, who presented Paralloy with the King’s Award for International Trade at a ceremony at the Tees Advanced Manufacturing Park, in Middlesbrough, added: “Teesside is a fantastic place to have a business like this. 

“To see things actually being built and made and manufactured is wonderful because we hear such dark things about UK industry and what we can achieve.

“What you have achieved here is truly outstanding.” 

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