Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, announced that its UK subsidiary, Special Melted Products Ltd. (SMP), plans a capital expenditure. SMP intends to invest approximately £60.2 million in forging, vacuum melting, and remelting equipment and facilities. This investment is to increase production capacity for the group's high-end precision materials.

Walsin Lihwa acquired a 70% indirect stake in SMP in May 2023, seeking to grow its presence in the aerospace and other high-end European markets.

Established in 1842 in Sheffield, a birthplace for the UK’s steel industry, SMP is a leading European producer of high-grade stainless steel and nickel-based superalloys. Its products serve critical sectors such as aerospace, oil and gas, and nuclear power, supported by specialized industry certifications and strong client relationships.