Paralloy Ltd provides customers with a start to finish service: taking in raw materials at its foundries in Billingham and providing fully finished precision machined tubes, components, sub-assemblies and full fabrications from its operations in nearby Middlesbrough and Sheffield in South Yorkshire.
Paralloy also develops and patents its own market-leading alloys for specialist applications including Blue Hydrogen and low coking Ethylene.
The company supplies the petrochemical, Ethylene, synthetic gas, Industrial Gas Turbine and Direct Reduced Iron (DRI) industries and its customers include Air Products, Air Liquide, Siemens, Rolls Royce, Exxon, Sabic, DOW and GE, amongst many others.
Paralloy’s Chief Executive Robert McGowan led a management buyout less than two years ago and since then sales have more than doubled to £60m and the workforce has increased by 100 to 350. The business exports 95% of what it makes to 70 overseas markets.
This success has been recognized by the UK government which has provided a General Export Facility which supports a £15m funding package from Santander UK. This is used to issue Bank Guarantees to customers, a key customer requirement, without which large contracts cannot be won.
