K-Tig goes into administration

Automated welding manufacturer K-TIG has gone into administration, with Korda Mentha appointed as administrators.

No reason was given for the move. Administrators have been appointed to K-TIG as well as a subsidiary Keyhole TIG Pty Ltd.

The appointment does not extend to Keyhole TIG (USA) Inc. and Keyhole TIG (UK) Ltd which are continuing to trade on a business as usual basis.

K-TIG was commercialising a CSIRO technology and developed it into a high speed, single pass, full penetration welding technology that reduces the need for wire.

It is known that K-TIG was not prioritising the Australian market and has announced few sales locally.

However the company has been successful in the United States in penetrating the defence welding market, demonstrating its technology to the US Navy.

It has also penetrated the United Kingdom market for nuclear facilities decommissioning.

However the UK market has not been plain sailing.

More recently K-TIG confirmed that its proposed takeover of UK advanced manufacturer Graham Engineering Limited (GEL) would not be going ahead.

GEL had been intended as a spearhead to move into UK manufacturing for the nuclear industry.

Further reading:
K-TIG confirms UK acquisition not going ahead
K-TIG expands into nuclear sector and the UK
K-TIG to demonstrate high speed welding to US Navy

Picture: K-TIG