Return from no man’s land for manufacturer MTL with £1m boost

METALS and defence manufacturer MTL Advanced is showing “strong signs” of recovery and investment, just three months after it was brought out of administration in a deal which saved 135 jobs.

The Rotherham-based firm is now reportedly back on track, embarking on a recruitment drive in the area and winning contracts again, including a £3m defence contract which it had lost when it went into administration in February 2015.

A £1m investment in equipment for MTL Advanced (formerly known as MTL Group) at their facilities in Rotherham is underway.

MTL was saved after administrators EY helped broker a partnership deal with WEC Group, an East Lancashire engineering and fabrication firm. WEC funded the deal to acquire the business and some assets of the firm, and is now investing in the future of its acquisition, including the introduction of an apprenticeship scheme.

Following that, WEC’s engineering capacity was doubled, and it now has over 600 staff across sites in Lancashire, Yorkshire and Merseyside.

The manufacturer has traded profitably in the three months following the deal, compared to the 12 months of losses it had endured before it was brought out of administration.

Wayne Wild, commercial director at WEC said:”We have really hit the ground running. And as a result we have seen some positive and encouraging results.

“We were delighted to win back the a major order that had gone away following administration and the investment programme we have announced will make MTL an even stronger operation.

“We’re looking for and securing new work through our existing customer base and with new customers and we have potentially got some very large contracts in the pipeline.

“The £1 million investment programme will see the installation of a new large bed laser cutting machine and a wet painting line at the Rotherham factory to enhance the services that MTL can deliver.

“And we’re also looking to recruit in certain areas as we continue to develop MTL. It’s all very positive for the future.”

Karl Stewart, sales director of MTL Advanced, said: “The synergy with WEC Group is already proving to be very strong. The deal has enhanced our capabilities and capacity and that is a major advantage to all our customers.

“MTL has certain specialities that WEC hasn’t been involved in which are now being offered to their customers, including our large laser cutting and bending capabilities.

“WEC Group has operations and areas of expertise that we haven’t been involved in, its new powder coating division for example.