Alloys firm 'steeled for growth' with multi-million aerospace expansion plan

A steels and alloys firm is aiming to forge major expansion through a multi-million-pound aerospace investment.

Special Melted Products has unveiled a blueprint to create 150 jobs and triple revenues to more than £300 million by 2031.

The Sheffield-based company has also bought a 31,000sq ft plant to extend operations.

The outlay – backed by £30 million Lloyds support – comes as the business rolls out the Project Vulcan programme, which it says will create “the UK’s first large-scale super alloy forging capability”.

Earmarked to bolster production of nickel-based super alloys used in jet engines, officials say the venture will help wrest control of “strategically important aerospace and defence manufacturing” from dominant US suppliers.

The business, which employs 260 people across two sites, makes alloys and components used in aerospace, energy and civil nuclear industries for clients including Rolls-Royce.

Its growth plans have been backed by Lloyds through a £28.5 million working capital facility and £2.2 million funding to buy its new factory.

Andy Richardson, Special Melted Products’ chief executive, said: “It’s rewarding to see a company with our heritage continue to play a key role in the city’s manufacturing story.

“We’re proud of our past, but focused on what’s next: evolving with the needs of British manufacturing.

“The shift towards UK sovereign capability in nickel-based super alloys is increasingly important for both supply chain resilience and the long-term strength of the UK’s advanced manufacturing base.

“Lloyds’ working capital gives us headroom to keep the business moving, and our new premises will ensure we continue delivering for customers, supporting our people and maintaining momentum.”

Lee Bloodworth, Lloyds’ relationship director, added: “Special Melted Products has a clear plan through Project Vulcan to invest in capability, strengthen UK supply chain resilience and create skilled local jobs.

“We look forward to supporting the business’ continued growth.”

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