Future of firm secure as Russians move in
Insulation plant central to multi-national’s planning
The takeover by a Russian billionaire of one of Stirling biggest private employers has helped secure jobs.
The Superglass insulation plant in Springkerse had been facing an uncertain future after the Westminster Government changed its policy on offering incentives for people to insulate their homes.
However a turnaround in fortunes in recent times led to interest from Sergey Kolesnikov.
He completed an £8.7 million takeover of the firm - which employs 150 people - in the summer and now Stirling will act as the centre of his company TechnoNICOL’s expansion in the USA.
“The takeover has been absolutely crucial in terms of the future,” said Superglass chief executive officer Ken Munro.
“In terms of the turnover, we have made quite a lot of progress.
“That is one of the reasons I think they were looking at us. We brought a bit of stability after nearly five years of uncertainty.”
Superglass invested in new technology which meant its products became easier to distribute, and now the export marketis important for the firm.
“We now have sales offices across Europe,” said Ken, “We have got a lot of sales people across Europe and now we are looking at expansion in North America. Previously, export was an opportunity but now it is a fundamental part of our strategy.
“There is also the domestic opportunity as well. We will be bringing TechnoNICOL’s roofing products to the UK and Ireland. It is a massive opportunity for us. We previously had 80 products, but TechnoNICOL have almost 3000 insulation products.”
He added: “There is a tremendously positive momentum and that builds on the good work that we have done. We have changed the strategy of the business and have got it back into profitability.”
TechnoNICOL has created a new division to focus on new business opportunities in the US as well as the domestic market in the UK and Ireland.
The Russian group sees considerable opportunities in the construction products and accessories market in the UK and the US. In addition to growing its presence in the UK and Ireland, the company aims to establish a significant market share in North America over the next five years.
Ken, who will oversee the American project, said that some expansion of Superglass is inevitable, but it is too early to predict if this will bring new jobs to Stirling.
“There is inevitably going to be more jobs across the region,” he said. What we have done is secure jobs in Stirling. I would be cautious about putting numbers on more jobs in Stirling for the time being.”
The company is aiming to continue providing high quality jobs to local people, and is one of the few glass wool insulation plants in the world.
Uncertainty has been replaced by positivity for the company that has been based in Stirling since it was founded in 1987.
Ken added: “The business had gone through quite a considerable period of turmoil. With a corporation like TechnoNICOL behind us we have a stability and Stirling can become the base for our North American expansion.”