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Sheffield Forgemasters

Sheffield Forgemasters is to receive £36m from the second round of the government's £1.4bn regional growth fund, in order to expand its Sheffield-based engineering business and create up to 50 jobs.

Sheffield Forgemasters has secured a government loan of £80m to produce giant forgings for the nuclear power sector, with the creation of about 180 jobs.

Sheffield Forgemasters is to undergo a management buy-out, securing the future of 600 jobs.

Sheffield Forgemasters has secured £25m from the US-based Burdale Financial banking group to finance the expansion of the company in the wake of rising demand for forgings and castings for safety critical applications.

Sheffield Forgemasters, the engineering group, has been sold to two US companies - Allegheny Teledyne and Atchison Casting - for a combined price of almost £100m.