"We are working diligently with Engle Martin & Associates, Inc., our insurance company’s independent adjuster, and expect to announce the final insurance settlement amount over the next 7-10 days."
Interestingly, they don't say what the extent of the insurance coverage was (i.e. was it enough to cover the cost of a full ground up rebuild of the premises, fixtures, fittings, capital equipment and stock, from what is effectively now, a zero base?).
Perhaps that's why, he then goes on to say....
"This process may or may not include rebuilding a full production facility on our LaCoste, Texas property."
This would not be mentioned at all if there were any doubt whatsoever that there would be a rebuild on the original site. If I'm not mistaken, they don't own the land (correct me if I'm wrong) so I think it's a given, that the R&D facility cum factory as was, is a goner and is highly unlikely to reappear in it's original location. That might well also be a plus, if situating it closer to the feedstock is feasible. This does however presuppose that they do rebuild in some form or another, again, not a given.
If they do go down the road of a rebuild (as opposed to simply licensing the tech) rental of appropriate (already existing) premises would seem logical and the quickest way to get back up and running (since they merely need to reinstall the production hardware and off they go). In this regard, the current business climate may well work in their favour as there should be an abundance of suitable factory/warehouse type property available imminently if they care to shop around.
Once upon a time, they showed some bizarre presentation where the business plan had them rolling out the LaCoste facility to 10 further sites US wide (Bizarre because none of the expansion programme was properly costed out but hey), so one would assume, if they implement that just for one site, this should all happen rather quickly (virus permitting).
GLTA
