An oil and gas firm is set to relocate to a new facility and create a number of new jobs as part of a £10m expansion.

Hyspec Engineering Holdings Ltd will move to a new state-of-the-art premises at Moorfields Industrial Estate in Kilmarnock, which will allow the business to increase its manufacturing capabilities. It has said it will also create more than 80 new jobs through the investment.

Welcoming the announcement, First Minister Alex Salmond said: "Kilmarnock has a number of high-profile projects that are contributing to the on-going regeneration of the town and Hyspec's expansion and employment plans will add positively to that.

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"This expansion is testament to the attractiveness of Scotland as a location for investors, thanks to the skills of our people, a competitive cost base and a well-developed business infrastructure.

"This is a fantastic jobs boost for Kilmarnock and we look forward to working with this rapidly expanding company as they continue to grow and prosper in Scotland."

Jim English, General Manager at Hyspec Engineering Holdings Ltd, added: "The grant will help support our 5-year business plan. Where it's our intention to grow our site by 100% in revenue terms, coupled with vertical integration in new advance technologies, and securing an additional 84 engineering personnel, to a cost of £11 million approximately, over the 5 year period."

(JP/CD)