Russian owner Sergey Kolesnikov, who acquired the firm in 2016, is aiming to ramp up capacity and create new jobs at the Thistle Industrial Estate site with a £36.8m funding boost.
Mr Kolesnikov is the owner of TechnoNICOL, the largest manufacturer of construction materials in Russia and Eastern Europe. Superglass has entered into a close partnership with TechnoNICOL and is now a key regional hub for the construction materials giant.
Over the next 18 months, the investment will deliver significant growth in new full-time jobs across the breadth of the organisation, primarily in the operations team as well as in product marketing and innovation.
In addition, the plant will see its output doubled from 27,000 tonnes to 60,000 tonnes annually within two years.
To accommodate new production equipment, substantial building work will take place on site including 187-tonne furnace and curing ovens. Cooling, cutting and milling equipment will be replaced and an automatic packing system will be installed. Building work is scheduled to start in the new year.
-- Advertisement --
Scottish Enterprise has also supported the project with a £477,000 grant.
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.
"With this investment, we will have spent close to £50 million 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."
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."
Image; Ken Munro, Chief Executive Officer of TechnoNICOL UK, Ireland and USA, and Cabinet Secretary for the Economy, Jobs and Fair Work, Keith Brown.
(LM/JP)
