The fire, which broke out at Benkert UK's 180-staff site on Tuesday morning (10 November), required 20 fire engines and more than 100 firefighters to extinguish.
According to Central Scotland Fire and Rescue Service (CSFRS), around 25 firefighters are still on site involved in damping down and removing combustible material.
The factory, which was acquired by Benkert group in 1972, is used for the production of tipping papers for the global cigarette industry.
According to Benkert's website, the tipping papers are gravure printed in up to five colours and can be foil-blocked.
A spokeswoman for CSFRS said that the cause of the fire was not yet known, although the size of the blaze was a result of the large volume of paper on the site.
The alarm was raised at 11:24am on Tuesday morning and by 2pm there were 75 firefighters on site tackling the blaze with 11 pumping appliances and five support appliances.
By 4pm there were more than 100 firefighters and 20 fire engines at the scene, with crews from across Scotland assisting in either tackling the fire or providing cover in case of other incidents.
Benkert UK could not be reached for comment.
Click here for stv.tv video coverage of the fire.
