SCOTLAND’S biotech industry has been given a vote of confidence after Tokyo-based Terumo Corporation announced a £33 million investment in its Inchinnan-based subsidiary, Vascutek.

The investment will fund a major expansion of the company’s headquarters, including scaling up existing facilities and two new cleanrooms.

Vascutek, which was acquired by Terumo in 2002, produces a wide portfolio of implants with a particular focus on treating patients with aortic disease. More than 90 per cent of products made at the Inchinnan site are exported, to more than 100 countries.

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Other aspects of the investment include equipment for the cleanrooms and a new sterilisation suite.

The first phase of the development is due to start in April and is scheduled for completion in 2021.

Paul Holbrook, chief executive of Vascutek, said: “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.”

Established in 1982, Vascutek employs around 800 staff at Inchinnan.