Synmet offers services throughout the industry and is the umbrella company for manufacturers Artech, Boa, Hidding and Nihot.
It operates within various sectors of the industry providing equipment, services and recycling solutions for paper, cardboard, municipal solid waste, tyres, construction, demolition, industrial and commercial waste.
The news was confirmed by its marketing and communication officer Erica Meijer who said: It is true, the administrators have been called in, but only concerning Synmet. All the other sectors [manufacturing operations] are still looking at ways to continue, this only affects the mother company.
We heard the news this morning and at present are looking at different ways to deal with it. The situation will become clearer in time and we may know more by next week. Our factories are waiting for news and we are looking at options, so it is not completely over yet.
While it was confirmed that there are major financial issues in Holland, the picture for the Telford-based UK operation remains unclear.
The business has been told to carry on as normal, supplying equipment from the Dutch-based group of manufacturers.
Artech (shredding and granulating technology), Boa (balers), Hidding (screens and conveyors) and Nihot (air technology for waste separation) could be split from the mother company, but with Synmet now in administration, the future of the trading name looks uncertain.