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Schramm board member Otis Spencer was appointed President and CEO, succeeding Craig Mayman who becomes Executive Vice President of Sales, Marketing & Aftermarket.
Schramm, Inc. announced a new joint venture with Hardwick Machinery to expand aftermarket services for mining customers. The partnership will enable same-day on-site maintenance at mines in the western United States.
Schramm II Inc., newly formed and fully owned by private equity firm Gen Nx360 Capital Partners, completed the purchase of substantially all assets of Schramm Inc. through a Section 363 bankruptcy sale. Schramm Australia was also acquired as part of the assets.