MTL Advanced, a metal working company based in Rotherham, UK, has bounced back from administration and is showing strong signs of recovery following a partnership with WEC Group, another UK metal working firm. MTL is now set to invest in apprenticeship schemes and planning an expansion of the company’s laser cutting capabilities.
The partnership deal was completed in just three weeks and has created one of the largest laser cutting operations in the UK’s fabrication and engineering sector.
The company has also won back a £3 million defence contract which it lost when it went into administration in February.
Karl Stewart, sales director of MTL Advanced, said: ‘The order book of MTL is much better than planned and this has resulted in recruiting nine new employees over the last three months.’
In February WEC Group funded the deal to acquire the business and certain assets of the South Yorkshire firm, saving 135 jobs. Wayne Wild, commercial director of WEC Group, added: ‘We’re also looking to recruit in certain areas as we work in partnership with MTL on its continued development. It’s all very positive for the future.’
MTL has traded profitably for the past three months and is about to invest £1 million in new equipment at the laser cutting and metal working company’s 300,000 sq ft headquarters in Rotherham, UK. Wild said: ‘We have really hit the ground running, and as a result we have seen some positive and encouraging results. MTL Advanced is continuing to move forward in the right direction, thanks to the hard work and commitment of all the team there.
‘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.’
WEC has announced that it is creating an apprenticeship scheme at MTL which will mirror its award-winning training academy, which was last year ranked in the top three large UK apprenticeship providers.
Wild said: ‘The new apprenticeship scheme will see MTL Advanced train and develop young skilled workers in the South Yorkshire area, giving them the tools they need to help us drive the business forward. It is a real investment in the future and we’re currently looking for our first intake of six apprentices.’