Paralloy received the King’s Award for International Trade at its site on TeesAMP in Middlesbrough.
Revenues have increased from £30m to £230m and the number of people employed in Middlesbrough, Billingham and Sheffield has risen from 220 to 560.
The Paralloy Group has also acquired a major business in France which, with its UK partner, added a further 560 staff to the payroll. Manufacturing space now totals nearly one million sq. ft.
Paralloy designs and produces specialist stainless steel products for a number of industries: petrochemical, aerospace, blue hydrogen, turbines and defence. The products are cast in one of three foundries in Billingham and finished, assembled and tested in Middlesbrough.