MUSIC, which owns loudspeaker brand Tannoy, has confirmed its commitment to manufacturing in Scotland with the announcement of a major investment in its UK operation.
Following the investment, Tannoy has said that it is looking to relocate to a new facility that will include modernised production facilities, a museum and a showroom to showcase Tannoy’s 90-year heritage. The new plant will continue the manufacturing of Tannoy’s Prestige models, currently made at Coatbridge.
This is welcome news after Tannoy had previously said that it may have to close the Coatbridge factory, make 70 staff redundant and move production to China.
Uli Behringer, chief executive of MUSIC, commented: “We are excited about the future of Tannoy and we believe we have developed a sound strategic direction to protect its rich history and heritage. Tannoy was facing great economic pressures and we believe that our plan will ensure the longevity of the brand.
“We are planning to relocate manufacturing to a new plant in Scotland, which will deliver modernised and streamlined operations while continuing our involvement in local communities and providing employment in the region. This will ensure Tannoy remains a serious competitor in the high-end residential marketplace.”
MUSIC acquired Tannoy from the Danish TC Group in 2015 along with Midas, Klark Teknik and Turbosound.
Mr Behringer said that since this acquisition, the company has hired 150 new engineers and other staff in the UK.