THE chief executive of Weir Group wants the company to extend its pipeline of new products and become a one-stop shop for customers
While Keith Cochrane maintained the engineering company's commitment to Scotland, including doing its cutting-edge research and development at the Weir Advanced Research Centre at Strathclyde University, he called for greater clarity on the constitutional future of the country.
Mr Cochrane highlighted five new products the company launched at the recent Houston oil and gas show that came from a near-£40 million investment in research and development over the past two years.
While some of those came from internal research, others were the result of adapting existing products for other markets the company serves.
He is keen for Weir, which employs around 600 people in Scotland, to develop a steady stream of improved products annually.
As a result, he expects to increase global R&D expenditure by between 15% and 20% this year.
He said: "If we can reduce the wear rate on our products we can reduce costs for our customers. You can then ask for a premium or enhanced price for the product.
"It also acts as a point of difference if we can make products that others are not.
"We do a lot of our blue-sky thinking and cutting-edge research with Strathclyde University. We have a great relationship there and want that to continue.
"Not every product will be a winner but even if it is one in 10 it is worth the effort.
"That product pipeline can become a driver for growth and we can make our future secure by coming up with creative products."
Mr Cochrane said the enhanced focus on R&D had helped raise Weir's profile and made it more attractive as an employer around the world.
In 2011 it added 1100 staff taking the total workforce to more than 14,000.
It will take on around 100 graduates this year, which is up from 75 last year.
The move to becoming a one-stop shop for clients will involve bundling different groups of products together for sale.
Mr Cochrane said: "That will extend to us putting some of our own people into customer sites to support that inventory."
When asked whether Scotland's constitutional future would have any impact on Weir, Mr Cochrane said more "objective" information was needed before any opinions could be formed.
However, he suggested businesses would consider the issue when making investment decisions.
He also wanted to know more about the potential impact on areas such as taxation, regulation and payroll if Scotland were to become independent.
Speaking at the company's headquarters in Glasgow, he said: "These all potentially add cost to businesses.
"I am keen to support Scotland and our country's development as we go forward.
"We want to remain in Glasgow and that remains our first choice.
"We need to understand what independence means and what other options could be considered.
"There are lots of questions and there needs to be a full and open debate around this.
"In these uncertain times, anything that adds uncertainty does not help anyone."
Weir has operations in more than 70 countries.
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