Metalysis aims to create 200 jobs in comeback

A HI-TECH metals firm is set to create up to 200 jobs in a multimillion pound comeback.

Metalysis is hiring again and is set to receive up to £10m to ramp up production of rare metal powders after being bought out of administration.

In a remarkable move, its new owner has made Metalysis’ base on the Advanced Manufacturing Park its global headquarters and is rebranding all worldwide operations with the name of the Rotherham firm.

Metalysis received £92m of investment after pioneering a fast, green and cheap method of making exotic powdered metals ideal for 3D printing.

But it fell into administration in June after running out of cash. Some 47 staff were made redundant and two sites, including a factory in Wath, were closed.

It was snapped up by Power Resources Group a month later for just $2.5m.

Boss Ray Power said he planned to pump millions into the firm and create up to 200 jobs over the next three years.

He said he was excited to be bringing work back to one of “the world’s most prestigious manufacturing areas”.

He added: “It’s one of the most prestigious things we’ve had the opportunity to turn around. It’s a great opportunity to bring manufacturing into the UK.

“As a consequence of Brexit, Britain needs it and the 3D printing sector is crying out for what we do.”

The group mines at three sites in Rwanda for tantalum, used in mobile phones, and niobium needed for high strength alloys. It also has mines in Guinea Bissau and Cornwall.