Realco: update following the fire of Friday, 10 January 2020
While the fire that ravaged the company’s warehouses last Friday was barely under control, the entire workforce of the world leader in enzyme-based hygiene solutions was moving heaven and earth to ensure the continuity of its activities.
With an insurance file that looks positive, numerous alternatives that are being looked at to relaunch production in the very short term, a sound financial health after a record year, exceptional support from the Walloon Region (Regional Investment Company of Wallonia – SRIW) to secure liquidity and, last but not least, nerves of steel, everything is in place not just to keep business going, but more importantly, to use adversity as a lever for an even rosier future!
“Several fellow companies based in the South and the North of the country and also further afield immediately came up trumps to offer us access to their infrastructure. Various very concrete options are currently being examined and some of the facilities were already visited this weekend. So far, a range of measures have been taken to relocate our production teams until we have found a sustainable solution and are able to come to a subcontracting arrangement with our colleagues”,explains George Blackman, CEO of Realco. “As our offices, servers, laboratories and R&D centre are still intact, our priority will obviously be to continue serving our customers and safeguard jobs because, now more than ever, we will need every single member of our team.”
Impact on the financial situation
In the immediate future and because the company always took meticulous care of its infrastructure, its processes and risk cover, Realco will be able to count on the support of its insurers and banks to ensure that their equipment will be up and running again before long. On the other hand, the company’s plant, its content and business interruption, are covered by insurance which will allow them to put all their energy into the continuity of services to customers. Realco can also bank on the unwavering support of its long-time shareholder, the Regional Investment Company of Wallonia, who promptly came to the company’s aid to provide working capital and access to industrial groups that can help with external processing. Thus, the impact on the financial results will be limited.
“Thanks to the positive and tight-knit community spirit of our team we will, as of today, be able to start laying the foundations of a company that will be even more successful in the future”, concludes Gordon Blackman, Chairman of the Board of Directors ofRealco.
The building forms part of a glorious past, the ambition now is to rebuild it quickly, in a visionary and sustainable manner.
For more information about REALCO:
Realco is a Belgian biotech, which pushes back the boundaries of traditional chemistry by developing, manufacturing and distributing enzyme-based hygiene solutions and processes. It has become the world leader in the field of enzymatic hygiene and decontamination, thereby opening the way to solutions that are increasingly effective, economic and ecological. Realco provides innovative solutions both to private individuals and the food industry, as well as collective and commercial catering through its ongoing investments in research and development. With more than 50 employees, the company is constantly increasing its turnover. Realco also has a sales office in the United States (Realzyme) to boost its sales across the Atlantic.
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