A Stirling company is to benefit from one of the largest investments in Scottish engineering and manufacturing in recent years, doubling its capacity and creating new jobs on the site.
Sergey Kolesnikov, The owner of Russian manufacturer TechnoNICOL, is to invest £36.8m in the Superglass facility at Thistle Industrial Estate in Stirling.
Since Kolesnikov’s acquisition of Superglass in 2016, the business has entered into a close partnership with TechnoNICOL and is now a key regional hub for the Russian construction materials giant.
Ken Munro, CEO of TechnoNICOL UK, Ireland and USA which incorporates the Superglass business, said: “TechnoNICOL’s backing is a real vote of confidence in Scottish manufacturing, both in terms of the quality of the work we do here and the expertise of the workforce.
“It is a validation of our strategy within Superglass over recent years and very personally satisfying for me to see further consolidation of the initial investment at our regional headquarters. It is also an important milestone in the total transformation that this business has experienced over the last three years – we have delivered a £10m improvement in profitability over this period and significant double digit sales growth in the current year.
“With this investment, we will have spent close to £50m on this site since the acquisition of Superglass and this is a further statement of intent regarding the long-term future of our Stirling operations. By our estimations, it’s also one of the biggest single inward investments made in Scotland’s manufacturing sector for a long time.”
The investment will deliver a significant growth in new full-time jobs over the next 18 months to accommodate and fulfil the increased capacity. These jobs will be created across the breadth of the organisation, but primarily in the operations team as well as in product marketing and innovation.
Substantial building work will take place on the site to accommodate production equipment, including a 187-tonne furnace and curing ovens. Cooling, cutting and milling equipment will be replaced and an automatic packing system will be installed. Building work will start early in the new year.
Cabinet Secretary for the economy, jobs and fair work, Keith Brown, said: “This investment, and the jobs it will create, is excellent news for Stirling and for the wider Scottish economy. It rightly shows real confidence in the highly-skilled Scottish workforce.
“It will help position the Stirling site to take advantage of greater opportunities in the future and will also help to deliver significant environmental benefits.
“I am delighted that Scottish Enterprise has been able to support this project with a grant of £477,000.
“I wish Superglass every success for the future and look forward hearing of the team’s achievements in the years to come.”