FOR a company described by its chief executive as being in “intensive care” not so long ago, Stirling-based Superglass would now seem to be in remarkably rude health.

And its recovery owes much to the tonic prescribed by its deep-pocketed Russian owner.

The Stirling-based insulation maker was very much in the doldrums between 2010 and 2015, so much so that it was forced to undergo three difficult refinancing exercises. That came after the promise seemingly offered by the UK Government’s Green Deal, a finance scheme designed to encourage consumers to invest in home insulation, did not deliver the revenues it anticipated.

The company required urgent attention and it was under chief executive Ken Munro, who replaced Alex McLeod, that the first steps to recovery were taken.

It was Mr Munro and his team who took the decision to exit the volume market and position Superglass in sectors where it could command a higher premium for its products, such as housebuilding. Slowly it began to recover to the extent that the company was deemed worthy of its £8.7 million acquisition by the Russian construction materials magnate Sergey Kolesnikov in the summer of last year.

Speaking at the time of the deal, Mr Kolesnikov talked in bold terms about his plans to invest heavily in the business.

Yesterday he made good on those plans by committing to spending millions to radically upgrade its production facilities.

In such bleak economic times this is surely good news for Scottish jobs and the wider Scottish economy.