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Ramsey Industries Inc. files bankruptcy
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.
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