FTI Consulting has kicked off an auction for under-water drill rigs maker Schramm Australia, calling for expressions of interest by mid this week.
FTI, which took the keys as administrator last month, told potential buyers that the up-for-grabs Schramm was one of the top manufacturers and suppliers of branded land-based hydraulic drills globally, filling orders for the likes of Boart Longyear, BDC and Capital Drilling.
FTI asked for tyrekickers to sign confidentiality agreements and submit early indications of interest by mid this week. It sent an 11-page flyer sent to interested parties last week.The process comes two less than two weeks after Schramm’s board called in administrators. FTI is understood to be running separate processes for Schramm’s Australian and US arms.
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