The Minister for Investment, Baroness Gustafsson, announced this important development during a visit to Sheffield on Thursday, July 17th.
The company also plans to renovate its existing Special Melted Products (SMP) plant and establish a research and development center. The new facility will focus on the production of specialty steel and nickel parts, particularly for aerospace jet engines and the energy sector.
The first phase of the investment aims to create more than 200 new jobs by 2028. The jobs are expected to have an average annual salary of over 40,000 pounds. Following the establishment of the forging plant, Walsin Lihwa will also launch a research and development center.
Minister for Investment Baroness Gustafsson CBE commended on the major investment by Taiwanese Walsin Lihwa in Sheffield: "Our Modern Industrial Strategy focuses on creating more high-paying jobs in the industries of the future in communities across the UK. This investment is a vote of confidence in Sheffield's world-renowned manufacturing sector and is perfectly aligned with our ambitions. We will detail the steps we will take to support the steel sector and encourage this type of investment in our Steel Strategy later this year. We also look forward to hearing about Walsin Lihwa's ambitious plans for growth in the UK. This is an important part of our Plan for Change."
Tom Hunt, Mayor of Sheffield, stated: "This major investment is a major milestone in Sheffield's advanced manufacturing sector and further strengthens our city's global reputation for innovation and excellence.
This investment is a strong recognition of our city's talent, capabilities and ambitions. New high quality local jobs and training opportunities will be created; next generation technologies will be developed in Sheffield. We look forward to working closely with Walsin and Special Melted Products for many years to come."
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