Six of the posts will be part of the Glasgow Veterans Employment Programme which aims to get former members of the armed forces into work.
CCG's £10 million facility in Glasgow produces a range of timber system kits for use in housing. New employees are needed to keep up with growing demand.
More than 230 sustainable homes at the Commonwealth Games Athletes Village were built using materials from the 130,000 square feet site.
Alastair Wylie, CCG chairman and chief executive, said: "This investment and the recruitment of 40 new staff will enable us to operate a second shift and ramp up our production."
CCG has its main headquarters in Cambuslang and employs 600 people.