Not much help but arrows often represented Sheffield’s historical connection to armaments production.
Siemens had steelworks in Sheffield, but I couldn't find the arrow associated with Siemens.

Steel works in Sheffield
https://www.sheffield.gov.uk/sites/...0and%20Steel%20Company%20Records.pdf.pdf

That location was typically used for the mark of the steel source or steel tradename on Belgian and some U.S. makers.