Stirling firm to benefit from large investment boost
A Stirling manufacturer say they’ll be able to create new jobs after gaining investment worth almost 37 million pounds.
Superglass have received a cash boost from their Russian investor Sergey Kolesnikov.
Mr Kolesnikov acquired the business in 2016.
Superglass makes glass wool insulation for the construction industry.
The cash boost will see production double at its Thistle Industrial Estate, to 60,000 tonnes a year.
Earlier this year, the firm signed Scotland’s first Sustainable Growth Agreement.
Ken Munro, Chief Executive Officer 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
Economy Secretary Economy 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.”