The award is worth £750,000.
Based in Glenrothes for more than 40 years, the company has expanded to become a global centre of excellence for the supply of corrosion protected pipeline equipment to harsh subsea environments.
Welcoming the award, Proclad Group Operations Director, Duncan McDougall said: "We are delighted to have won this significant RSA grant from Scottish Enterprise. This will enable us to invest in a £6m programme of upgrading of machinery and equipment by purchasing eight new state of the art CNC machines. This will give us the opportunity to take on new business in the fast growing area of subsea equipment protection making the company competitive in its sector.
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"This award will safeguard 145 jobs while creating 10 new jobs to take advantage of growth opportunities in the subsea engineering and the emerging offshore renewables markets. We welcome the opportunity of working closely with the council to bring in more apprentices and engage in further training initiatives to carry on the company's growth worldwide."
Councillor Lesley Laird, Executive Member for Business, Enterprise, Economy and Planning added: "FTV Proclad International is part of a global group with international subsidiaries in Dubai and Singapore. They have shown strength, innovation and commitment by winning business in the face of strong competition. We welcome the commitment to building local skills in their world leading capabilities.
"We look forward to working closely with the company to deliver apprenticeships and training to meet the demands of the industry and develop the growth potential of this sector. This is an exciting time for Fife's companies and the region is proving to be an attractive location for the Subsea engineering and Renewables sectors."
(JP/CD)
