Drill rig maker files for bankruptcy

SCHRAMM Australia owner the US company Schramm has filed for Chapter 11 bankruptcy with plans to sell the business off through a court-supervised process.

Drill rig maker files for bankruptcy Drill rig maker files for bankruptcy Drill rig maker files for bankruptcy Drill rig maker files for bankruptcy Drill rig maker files for bankruptcy

Rig maker Schramm has gone into Chapter 11.

It is understood the company has secured an initial US$16.3 million offer from private equity firm GenNx360 Capital Partners.

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