Music Group, the owner of venerable loudspeaker maker Tannoy, is looking to retain a manufacturing base in Scotland.
The group is said to be looking to keep production of its high-end Prestige range of speakers in Scotland and is considering investing in a new facility north of the Border, away from its long-established Coatbridge home . There had been fears recently that production was moving to China.
Uli Behringer, head of Music, said this week: "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 providing employment in the region."
The famous Tannoy audio brand is celebrating its 90th anniversary this year.