Restructuring
The NEXT GENERATION GROUP announces that Hamburg- based HydroDyn has filed for insolvency proceedings.
The aim of this step is to ensure the orderly restructuring and sustainable continuation of the company.
The decision was made against the backdrop of a challenging market environment, necessary adjustments to current market conditions, and legacy issues arising in connection with the realignment of the company.
Regardless of this, NEXT GENERATION GROUP and its shareholders are committed to continuing the company. They continue to firmly believe in its technological capabilities and the strategic complementarity of its portfolio within the group.
“The initiation of the restructuring process is a necessary and responsible step to put the company on a solid footing for the future,” explains Josef Hochreiter, CEO of NEXT GENERATION GROUP. "The partnership opens up many opportunities to jointly offer tailor-made solutions for post-consumer recycling and cover the entire life cycle of plastic – from product design to the recycling process. We are convinced of the technology, the expertise of the team, and the strategic importance of the company for our group.“
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