The Regional Development Agency Yorkshire Forward has confirmed a £1.5m grant to Metalysis Ltd., a Rotherham-based technology business for the global manufacture of special metals and alloys.
According to an official statement, the award will help create 90 highly skilled jobs in the South Yorkshire region as the company gears up to develop a plant to produce titanium and tantalum powders for worldwide markets.
This grant for Business Investment scheme supplements previous Inward Investment Grant funding from 2006.
Commenting on the funding, Mark Bertolini, Chief Executive of Metalysis, said: “The Regional Development Agency has again given us essential financial support as we enter a critical project, by the end of which we expect at least another 90 people to be sharing in our continued progress”.
In addition, Simon Hill, Executive Director of Business for Yorkshire Forward, highlighted the capacity of the project to have a positive impact on supply chains throughout the region.
“It will also further cement Yorkshire and Humber’s already strong reputation in advanced manufacturing”, he added.
Using the FFC Process, Metalysis has developed an important new technology for producing tantalum, titanium and other metals from the oxide. From 2010 the company will start the commercialisation of its technology serving such worldwide industries as aerospace, marine, medical, chemical, automotive and electronics.
The business now employs 50 people in science and engineering, scale-up and commercial development operations.
FinSMEs
29/10/2009