Boost for glass wool insulation manufacturing in Scotland.
The owner of TechnoNICOL, Sergey Kolesnikov, is to invest £36.8m in the Superglass facility in Stirling. The facility will be benefitting from one of the largest investments in Scottish engineering and manufacturing in recent years, doubling its capacity and creating new jobs on the site.
Ken Munro, Chief Executive Officer of TechnoNICOL UK, Ireland and USA, said of the investment: “It is 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.
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 primarily in the operations team as well as in product marketing and innovation. Substantial building work will also take place on the site to accommodate production equipment, including a 187-tonne furnace and curing ovens.
This project will take the company beyond environmental compliance, and builds on the company recently being awarded Scotland’s first ever Sustainable Growth Agreement by SEPA, while allowing the plant to double its output from 27,000 tonnes to 60,000 tonnes annually within two years. Glass wool insulation produced by Superglass is made from up to 84% recycled glass, and is estimated to save around 300 times the amount of energy used to manufacture it.
The expansion is backed by Scottish Enterprise, who committed £477,000 towards the project.
Pictured above at the Superclass expansion announcement at the Superclass Stirling site, Scotland are Superclass CEO Ken Munro and Keith Brown, Cabinet Secretary for Economy, Jobs and Fair Work.