Paralloy honoured with The King’s Award for International Trade

Paralloy honoured with The King’s Award for International Trade as we continue to champion British engineering on the global stage 

Being awarded one of the UK’s most prestigious business accolades is the icing on the cake for us at Paralloy, following a remarkable journey of growth in recent years. 

Winning The King’s Award for Enterprise in International Trade is more than a milestone for us, it is a celebration of British manufacturing ingenuity and a reaffirmation that homegrown expertise can lead the world in advanced engineering solutions. It underpins our position as a global leader in high-performance cast components and inspires us to aim even higher in our pursuit of engineering excellence. 

This honour recognises our exceptional growth in overseas markets and our unwavering dedication to delivering world-class British engineering on a global scale. 

The award was formally presented to us on Tuesday, 14th May, by Johanna Ropner, His Majesty’s Lord-Lieutenant of North Yorkshire and the Sovereign’s representative in the county. 

A legacy of engineering excellence 

With our roots in the invention of stainless steel, we are a vertically integrated business that produces fully finished, ready-to-install assemblies and components, taking each product from design all the way through to shipment. 

We melt our raw materials, a large percentage of which are recycled, at temperatures exceeding 1,600 degrees Celsius and cast them into high-speed spinning tooling to produce high-quality materials at any of our three foundries in Billingham. These castings are then machined into semi-finished or fully finished precision components at one of our four machine shops. 

Finally, we fabricate them into complex assemblies at one of our four fabrication facilities before shipping them to customers all over the world. 

International growth 

While we have been in business for many years, our most significant growth journey began around five years ago when we started the process of acquiring the business from a major industrial group. With the support of our investors, we accelerated the development of new material solutions – many of which are now patented – helping our customers reduce their carbon footprint and improve operational efficiency. 

We invested heavily in our people, capacity, new equipment and routes to market. This strategic and dynamic focus has driven six consecutive years of growth. 

At the beginning of this journey, we operated from two sites, employed 220 people and generated revenues of around £30m. Today, we operate across seven sites, have welcomed hundreds of new colleagues and grown our workforce to more than 1,050 people, including over 600 here in the UK. 

This year, for the first time in our history, our revenues will exceed £230m, another significant milestone that reflects the dedication, resilience and commitment of our entire team. This achievement is particularly meaningful given it has been realised against a backdrop of major global challenges, including the Covid-19 pandemic, the Russia-Ukraine conflict, volatility in metals and energy markets, and the cost-of-living crisis. 

Commitment to the future 

The future is bright for us at Paralloy. As global demand accelerates for greater energy efficiency, cleaner fuels and carbon reduction, the need for high-performance materials and components has never been greater. Our forward strategy is built around three core pillars: 

Excellence 
We deliver the highest standards in every product and service. Our precision, quality and reliability ensure we meet the toughest demands across the world’s most critical industries. 

Innovation 
We continually push boundaries through advanced materials, digital technologies and smart engineering, developing tailored solutions to support our customers’ most complex challenges. 

Commitment 
We are deeply committed to our people, our customers and the planet. From supply-chain dependability to sustainable growth, we stand by our promises and act with integrity in everything we do. 

A crown for British industry 

We are proud to be playing a leading role in the UK’s manufacturing resurgence, creating high-value jobs, supporting apprenticeships and strengthening the nation’s reputation for engineering excellence. 

Receiving The King’s Award for International Trade is more than a milestone for us. It is a celebration of British manufacturing ingenuity and a powerful endorsement of what can be achieved through homegrown expertise. This recognition reinforces our position as a global leader and inspires us to aim even higher in our pursuit of engineering excellence. 

— Robert McGowan, CEO