Schramm launches new joint venture
Joins with Hardwick Machinery to expand aftermarket segment
Chester County hydraulic drilling rig maker Schramm Inc. has entered into a joint venture with Hardwick Machinery, an equipment design, repair and rebuilding firm based in Salt Lake City, Utah. The two firms have collaborated before, and the new venture will enable Schramm to deliver a wider array of aftermarket services to customers worldwide, according to the company.
The partnership with Hardwick is part of Schramm’s longterm strategy to complement its existing backlog of OEM rig sales with aftermarket maintenance and support services for gold and other resurgent mining segments in Australia, the western U.S., Canada, China and Chile.
In addition to the venture with Hardwick, the company also announced Monday the appointment of board member Otis Spencer as president and CEO of Schramm Inc. Spencer will transition from his current role of operating partner at Schramm’s parent company GenNx360 Capital Partners. Spencer has been deeply involved with Schramm since joining GenNx360 in 2014, according to a press release, joining Schramm’s board of directors in 2019.
“Despite significant global business challenges due to the coronavirus, we have a strong backlog of new rig orders and several large aftermarket opportunities through our Brisbane and Perth (Australia) facilities. This new joint venture with Hardwick Machinery further accelerates both our spectrum and delivery of services to customers throughout the American
West and globally, underscoring Schramm’s worldwide commitment to premier customer support,” Spencer said in the release.
Spencer succeeds Craig Mayman, who will become Schramm’s executive vice president of sales, marketing & aftermarket, based in Adelaide, South Australia. Mayman, who has served as president of Schramm Inc. for the past two years, will continue to work from West Goshen for several months before moving back to Australia, where he will oversee Schramm’s business development and calibration toward the mining market segment, the company said.