A Rotherham firm that supplies high quality specialist steels and nickel alloys to the oil and gas industry is targeting new business in the Far East, Middle East, and Eastern Europe.
Energy Alloys UK is expecting to boost sales by 6m after buying four new lathes with funding from Lombard, the asset finance arm of The Royal Bank of Scotland.
Canklow Meadows Industrial Estate-based Energy Alloys says the lathes will allow it to provide a more complex and specialised in-house service and increase its capacity, enabling it to compete for more business.
Financial director, Jon Christie, said: "We have grown significantly during the past 12 months and this investment allows us to continue our expansion plans and ensures we are able to remain at the forefront of the marketplace.
"It is essential we provide innovative solutions to customers when we work within such a fast-moving industry and compete within an international arena."
Matthew Somerset, from Lombard, said: "The new lathes increase the range of services that Energy Alloys UK Ltd can offer and this increased capacity will strengthen its position in the market and attract business."
Energy Alloys is based in Houston, Texas, and employs 180 people at three sites in England - in Rotherham, Chesterfield and Birmingham - and two sites in Scotland - in Arbroath and Strathclyde.
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