Tokyo-based Terumo Corporation has announced an investment of £33m in one of its Scottish subsidiary companies, Vascutek Limited, located near Glasgow.
The investment has been approved for the major expansion of Vascutek’s headquarters and manufacturing facility at Inchinnan, Renfrewshire to help drive further growth for the global medical device company.
Vascutek produces a wide portfolio of implants with a particular focus on treating patients with aortic disease.
These implants have helped to save or improve the lives of over 2 million patients in over 100 countries worldwide. Over 90% of the products made at Inchinnan are exported.
The investment will be used to significantly scale up existing facilities at the site, including two new ‘cleanrooms’ – a carefully controlled manufacturing environment required for the production of the highest quality medical implants.
Other aspects of the investment include equipment for the cleanrooms and a new sterilisation suite. The first phase of the site development is due to start in April 2018 and is scheduled for completion in 2021.
Paul Holbrook, president and CEO of Vascutek, said: “This is an extremely exciting time for the company as we look to secure further growth in the surgical grafts market.
“The investment from Terumo is testament to the quality, efficiency and excellent customer service delivered consistently by our team at Inchinnan and will allow us to further expand our business globally.
“The decision to invest in our manufacturing facilities sends a strong signal about the health of our company and our prospects for the future.”
Get insights like this delivered straight to your inbox
5 Digital Briefings | 5 Front-of-Mind Topics | 5 Days a Week
- Monday: Manufacturing Innovation
- Tuesday: Manufacturing Leadership
- Wednesday: Digital Transformation
- Thursday: Industrial Automation
- Friday: Industrial Internet
Sign up for free here.