Textiles manufacturer Wilkie has become the main shareholder for Dundee’s Michelin Scotland Innovation Parc (MSIP) – previously home to the tyre factory which employed 850 people before it closed in June 2020.
The firm plans to invest up to £50 million and hire 600 new staff, and relocate its 190 staff who currently work at the company’s base in Kirriemuir, Angus, meaning the original workforce will be almost fully replenished.
After the factory closed, the Scottish Government began working to retain the site as an economic hub, with the aim of supporting a fair and just transition to a net-zero economy.
READ MORE: Transformation of former tyre factory aided by Scottish Government funding
MSIP is run by Michelin, Dundee City Council and Scottish Enterprise, which invested almost £50 million in the development, which includes an innovation hub and a labs and skills academy led by Dundee and Angus College.
Scottish Enterprise will now become MSIP’s minority shareholder.
Deputy First Minister Kate Forbes met Wilkie chief executive Hamish Rowan and general manager John Reid at the site to welcome the new deal.
She said: “When Michelin closed the doors on its tyre factory, the Scottish Government promised to reinvest in the site’s economic future.
“We hoped that we’d be in the position we find ourselves in today, bringing in a major employer like Wilkie with a strong Scottish heritage.
“Dundee has long been known as the home of industry, and I consider myself fortunate in having seen Michelin Scotland Innovation Parc’s transition from a spark of an idea to the business community we see today, connecting industry trailblazers with academia to bring about greener economic growth across the country.
“Wilkie will guide MSIP into its future as a major centre for manufacturing, while continuing to work with companies focused on sustainable innovation and decarbonisation.”
MSIP has also supported 53 new businesses through its innovator accelerator programme, offering early-stage businesses a period of business support while they establish themselves in the market.
The accelerator programme has created more than 80 jobs off-site.
After announcing the closure in 2018, bosses at the former factory said its difficulties had come from cheaper tyres being imported from Asia, with the business later ceasing operation in Dundee around two years later.