Panda Biotech pushing back timeline for fully operational status

Company bought the old Delphi building on Tuesday
Published: Jul. 14, 2021 at 4:17 PM CDT
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WICHITA FALLS, Texas (KAUZ) - Panda Biotech says after the delayed purchase of the old Delphi building on I-44 north of Wichita Falls, the worst-case scenario is that they are not fully operational until 2024.

Because the company had to pay for so much of the building out of pocket, they’re waiting for additional funding to begin construction and get back on track to bring hemp processing and most importantly, more jobs to Wichita Falls.

“Depending on how that funding comes in or if an equity partner jumps up and says ‘hey let’s get this thing going, start spending my equity,’ you know we can get the ball rolling within a couple months or it could be the end of the year,” Mike Decalmbre, Panda Biotech project manager, said.

The good news for job seekers is that the new hemp processing plant is expected to have at least one operating processing line by early 2022.

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