Superglass, the Scottish independent manufacturer of mineral wool insulation, has been granted £2m in funding to help secure its future.
The grant – Regional Selective Assistance funding – comes from the Scottish Government via Scottish Enterprise and helps to secure 187 jobs at the company’s production facility in Stirling, Scotland.
Enterprise Minister Fergus Ewing announced the award last Thursday (November 17). He said: “I am delighted this funding will further secure the jobs of 187 employees as well as ensure the continued future success of a major company in the Forth Valley area. The Scottish Government and Scottish Enterprise are working hard to promote Scotland as an attractive and competitive location to do business.
“These investments are testament to the quality of workforce, skills and infrastructure that we have in Scotland – and with the full financial and economic powers of independence, we could achieve even more.”
Lena Wilson, chief executive, Scottish Enterprise, said: “Superglass is a company with a real determination to succeed and this RSA award will help make it even more competitive. RSA is a key tool we use to help home-grown companies expand and grow in Scotland and to help investors companies locate here.
“By doing so we can help create more jobs, ultimately boosting the long-term recovery of the Scottish economy.”
Alex McLeod, chief executive of Superglass, said: “I am delighted we have been successful in obtaining RSA funding. This award reaffirms the Scottish Government and Scottish Enterprise’s commitment to the Scottish manufacturing sector.
“It will, when combined with the support we have received from investors and Clydesdale Bank, enable Superglass to implement a capital investment programme at our Stirling manufacturing plant. This will improve our operational efficiency, increase plant capacity and better our competitive position, whilst creating and safeguarding jobs.”