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King’s Award for Tees stainless steel specialist

Paralloy’s remarkable achievements in the stainless steel industry have been duly recognized with the UK’s prestigious King’s Award for Enterprise in International Trade. This honor acknowledges the company’s commitment to excellence and its significant contributions to global trade.

CEO Robert McGowan expressed gratitude for the award, emphasizing the collective effort of everyone at Paralloy Group. He sees this recognition as validation of their relentless pursuit of excellence and a motivation to set even higher goals both domestically and internationally.

Being among the select few to receive the King’s Award for Enterprise in 2024 highlights Paralloy’s exceptional performance in international trade. The renaming of the award program last year underscores its continuity from Queen Elizabeth II’s legacy, symbolizing a commitment to honoring outstanding UK businesses.

Despite its 57-year history, Paralloy has undergone a remarkable transformation since its management buyout in 2020. Significant growth in revenue, workforce expansion, and substantial investments in infrastructure and research and development underscore the company’s commitment to innovation and progress.

Paralloy’s focus on designing and producing specialist stainless steel products for various sectors, coupled with its strong international presence, has been pivotal to its success. The company’s involvement in major projects like the Ras Laffan petrochemical complex in Qatar underscores its global impact and reputation for excellence.

Looking ahead, Paralloy aims to capitalize on domestic opportunities, particularly in Teesside’s emerging hydrogen network. CEO Robert McGowan envisions a role for Paralloy in supplying core reformer tubes for Blue hydrogen production, aligning with the company’s commitment to sustainability and local development.

As Paralloy continues its growth trajectory, addressing the skills shortage remains a priority. Initiatives such as establishing a training academy demonstrate the company’s proactive approach to nurturing talent and overcoming challenges.

While the King’s Award for Enterprise represents a pinnacle achievement for Paralloy, it is just one of many accolades the company has received. Its consistent recognition across industry awards underscores its leadership and innovation in the stainless steel sector.

The upcoming ceremony in July will provide an opportunity to celebrate Paralloy’s accomplishments and reaffirm its commitment to excellence in international trade and beyond.

Full story on teesbusiness.co.uk