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Ramsey Industries Inc. files bankruptcy

 
BY KYLE ARNOLD - Tulsa World | Published: December 21, 2009    Comment on this article Leave a comment

Tulsa-based winch and crane maker Ramsey Industries Inc. is trying to reorganize under bankruptcy protection, with company officials saying they hope layoffs will not be necessary.

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Ramsey Industries, parent of Ramsey Winch Co. and Auto Crane Co., made its filing late Friday in U.S. Bankruptcy Court in Tulsa. It listed more than $100 million in debts.

In a telephone interview Monday, CEO John Celoni said the company’s poor financial position is the result of the untimely purchase of Eskridge, Inc., an Olathe, Kan.-based maker of planetary gear drives.

Click here to read the complete article at Tulsaworld.com

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Related Topics: Business, Company Activities and Information, Company Bankruptcies, Jobs and Labor, Layoffs and Downsizing



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