Castings Technology: Yorkshire titanium specialist announces £18m move to new premises under 'strong growth strategy'
A booming Sheffield metals company is spending £18m on a move to new premises and new kit.
Castings Technology is setting up its own factory on Shepcote Lane and installing a £6.5m vacuum arc remelting furnace and a £1.5m heat treatment furnace.
It comes after bosses bought the firm from Sheffield University in 2021.
Since then sales have more than trebled and staff numbers have risen from 58 to 100, with 20 jobs set to be created in the next year.
The firm, a titanium specialist, supplies the aerospace, energy and defence sectors.
It is based at the university’s Advanced Manufacturing Research Centre in Rotherham.
It hopes its new facility will be operational in the second half of 2026.
Chairman Kevin Parkin said it was the right time to move and buy their own equipment.
He said: “Whilst continuing to lease the building and equipment from the AMRC was the correct option in 2021 when the Management Buy-Out completed, due to our substantial growth, it is now necessary for the company to move to its own, larger premises and with new, world-class equipment.”
The new site, formerly a Whitbread Brewery bottling plant, is having a multimillion-pound refurbishment.
As well as the furnaces on order, the firm has its own metrology, x-ray, testing and metallurgical laboratory.
Managing director Richard Cook added: “We have developed a strong growth strategy, and we will continue to collaborate with our clients and other institutions to help us improve operational efficiencies.
“The move delivers a sound platform from which Castings Technology can offer continued supply chain resilience to customers’ future and current programmes.”
The firm secured a £15m investment package from Zachary Asset Holdings, organised by Castle Square Corporate Finance.
Kevan Shaw, Managing Partner of Castle Square Corporate Finance, said: “I was thrilled to receive the call from Kevin and Richard to manage this investment deal after working with them on their MBO back in 2020/21.
"We had several interested parties but Zachary Asset Holdings were the best fit. This deal secures Castings Technology’s long-term future with a move to its own facility.”
Robin Haller of Zachary Asset Holdings added: “We are extremely excited to partner with Castings Technology and help to support their growth in Sheffield.
"We believe their skills and technology are world-class and will benefit both the region and the country.”
The company said it is also dedicated to increasing apprenticeship numbers in the coming years.
A spokesperson said: “It is partnering with local schools and the UTC in Sheffield, providing work experience placements and encouraging more interest in manufacturing to develop engineering apprenticeships. It is also a committed partner of the Better Learners, Better Workers scheme run, in conjunction with The Company of Cutlers in Hallamshire, by Sarah Ward, Managing Director of Ambition Unlimited.”