MINING

Schramm Group appoints voluntary administrators

Schramm Australia Holdings Pty Limited, Airdrill Hammers and Bits Pty Ltd, and Airdrill Pty Ltd, collectively known as Schramm Group, have appointed Hayden White, Paul Harlond and Ian Francis of FTI Consulting as voluntary administrators .

 Hayden White, Paul Harlond and Ian Francis of FTI Consulting have been appointed voluntary administrators to Schramm Group in Australia

Hayden White, Paul Harlond and Ian Francis of FTI Consulting have been appointed voluntary administrators to Schramm Group in Australia

Based in Perth, Australia, Schramm Group, which manufactures and supplies mobile drilling rig equipment, servicing, spares, hammers and bits to the mining industry with a focus on land-based applications which specialises in mobile, top head, and hydraulic drilling, has been operating in volatile market conditions which have significantly impacted its ongoing financial viability. 

White acknowledged the appointment of voluntary administrators occurred soon after the tragic death of an employee at Schramm's production facility in Welshpool, and while it is early in the engagement, said in the first instance, the two events did not appear related.

"Today's news will undoubtedly be difficult for staff given the events of last week, and we will be mindful of this as we undertake our role as administrators," White said. 

"Voluntary administration can provide Schramm Australia with a pathway for the changes it needs for the business to be restructured so it can continue to deliver the hydraulic drill rigs, consumables and associated services which are essential to the exploration industry in Western Australia."

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