Special Melted Products: Sheffield firm investing tens of millions in major growth drive
A Sheffield-based manufacturer is investing tens of millions of pounds in a major growth programme that it hopes will triple revenue to more than £300m by 2031, while creating 150 skilled jobs across the wider region.
Special Melted Products, which has roots in the discovery of stainless steel, is launching a major programme aimed at establishing the UK’s first large-scale super alloy forging capability.
Titled Project Vulcan, the scheme will aim to help reshore the UK’s strategically important aerospace and defence manufacturing that is dominated by US suppliers.
Andy Richardson, CEO at the firm, said: “It’s rewarding to see a company with Special Melted Products’ 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 superalloys is increasingly important for both supply chain resilience and the long-term strength of the UK’s advanced manufacturing base.”
Special Melted Products currently generates around £100m in revenue and employs 260 people across two sites.
The company is one of the few UK manufacturers to produce high-integrity alloys and components which are used for critical applications in aerospace, energy and civil nuclear industries. The firm holds a number of high-profile clients including Rolls-Royce.
Through Project Vulcan the business plans to help establish UK sovereign capability in nickel-based super alloys, which are used in the high-temperature sections of jet engines.
To back its next phase of growth, the firm has secured a £28.5m working capital facility from Lloyds to support ongoing operating requirements, alongside £2.2m funding to acquire a 31,000 sq ft industrial building close to its existing operations.
The firm said the additional premises will provide flexibility as the business installs new machinery and reconfigures production, enabling a phased expansion without disrupting day-to-day operations.
Over time, Special Melted Products plans to develop the building into further processing or production capacity, including potential additional melt or manufacturing operations, with a new research and development facility also planned later in the programme.
The company is targeting full operation by 2031.
Lee Bloodworth, relationship director at Lloyds, said: “Special Melted Products exemplifies the high-value, high-skill manufacturing that underpins Sheffield’s ‘Steel City’ reputation. The team has a clear, ambitious plan through Project Vulcan to invest in capability, strengthen UK supply chain resilience and create skilled local jobs.”