The recycling company APK, based in Merseburg, has filed an application with the competent district court in Halle to initiate reorganisation proceedings under self-administration. The court granted the application and ordered provisional self-administration.
Due to the differing interests of the existing investors with regard to the future development of APK AG and the Further development and expansion of its proprietary Newcycling technology, In the course of this situation, APK's economic situation gradually deteriorated and the company was unable to reach an agreement on important financing steps for an extended period of time. As a result of this situation, APK's economic situation gradually deteriorated and the intended expansion plans could not be realised in this situation. become
Against this background, APK's Board of Directors has decided to take the step of self-administration. With a view to the Imminent but not yet realised insolvency the time has now come to press ahead with APK's situation and plans under insolvency law. The objectives, the preservation of the company in Merseburg and the Construction of further large-scale plants for the recycling of post-consumer packaging waste, remain a priority.
The Executive Board remains authorised to act and issue instructions during the self-administration proceedings. During the upcoming transformation process towards new investors, the Executive Board will be supported by a team of lawyers with restructuring experience. Business operations in Merseburg will also be maintained without restriction during the self-administration proceedings. The Management Board and the reorganisation team are convinced that the company's innovative technology will enable APK to complete this reorganisation process very quickly and resume its expansion and growth path with new investors.
APK was founded in 2008 with the aim of obtaining recycled plastic with the highest possible degree of purity from plastic waste. The properties of the recyclate should be comparable to those of new plastics and thus close the material cycle. With the Newcycling process developed a pioneering recycling technology that combines mechanical and solvent-based steps. Newcycling was scaled up industrially at the plant in Merseburg. Since 2022, APK has also been operating a technical centre at the Frankfurt-Höchst site via its subsidiary APK Newcycling Competence Center GmbH. The LDPE plastic recyclate from Merseburg is marketed under the name Mersalen.
Source: APK
