Events have taken place in France to mark the first anniversary of an historic company’s takeover by the Teesside-based Paralloy Group.
The 100-year-old company – located in Normandy – also acquired Manoir’s UK business Hi-Tech Fabrication.
Both Paralloy and Manoir cast precision steel components for heavy industries including petrochemical, aerospace, and defence. The French business also has a foothold in the country’s nuclear power sector.
Revenues have increased £30m to £230m and the number of people employed in Middlesbrough, Billingham and Sheffield has risen from 220 to 560. More than 90% of its specialist stainless steel products are exported.
Paralloy ranks number two in Europe in its sector and number three in the world but, “the best is yet to come.”