Tokyo-based Terumo Corporation announced an investment of £33 million in its Renfrewshire subsidiary Vascutek Limited.
The investment has been approved for the major expansion of Vascutek’s headquarters and manufacturing facility at Inchinnan to help drive further growth for the global medical device company.
Established in 1982, Vascutek employs around 800 staff at its Inchinnan base.
Vascutek produces a wide portfolio of implants with a particular focus on treating patients with aortic disease.
Terumo Corporation is a global medical device company which was founded in 1921 and currently has 22,000 employees worldwide. It acquired Vascutek in 2002.
More than 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.
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.
“It is an important milestone in our mission to create innovative products to the highest standard that benefit the lives of patients and their families across the world.”