In particular, reverse circulation (RC) drilling products, which are among Schramm Australia‘s main assets and are located in Perth, are being acquired by Epiroc.
With assets such as intellectual property, two production sites close to Perth, WA, and two service locations in Queensland and South Australia, Schramm Australia has been under voluntary administration since February 2023.
Epiroc Acquire Schramm Australia
The roughly 80 employees of Schramm Australia will be given employment opportunities at Epiroc, according to President and chief executive Helena Hedblom.
She claimed that the Schramm products and brand were well-known as a pioneer in reverse circulation technology. “We are excited to have the talented team at Schramm Australia join the Epiroc Group.”
- Epiroc acquires Schramm Australia’s assets, including RC drilling products.
- Schramm Australia to join Epiroc Group as a pioneer in reverse circulation technology.
- Schramm Australia to join Epiroc’s Surface division in 2023.
For Schramm’s staff, who “have responded to the voluntary administration period with determination and commitment to continue delivering for the company’s customers,” according to FTI Consulting voluntary administrator Hayden White, this is a positive conclusion.
He said, “A primary objective of the administration process has been to ensure that workers will be kept by a future buyer.
Regardless of the future growth of the company, it will remain a top-notch domestic and international supplier of drilling equipment to its creditors and the mining and exploration industries.
As a result of the sale, this widely recognized brand will continue to play an important role both in WA as well as around the world in the mining industry, the company explained.
Schramm Australia will join the Surface division of Epiroc after the asset transaction is expected to be finished in the second quarter of 2023.