K-TIG raises cash, accelerates expansion

Australian high-tech welding manufacturer K-TIG will accelerate its global expansion, announcing it had raised $4 million in a share placement and revealing three new distribution deals.

The TIG welding technology developer announced new distributors in Turkey, Spain, Portugal, and the successful placement of $4 million to investors including existing directors.

Chairman Stuart Carmichael said the company was well capitalised for expansion.

Carmichael said: “The placement allows the company to accelerate execution of its growth priorities both domestically and internationally across the stainless steel, defence and nuclear sectors.”

New distributors are:

• In Turkey pipeline equipment supplier BMC Marine Muhendislik Limited
• In Spain and Portugal MetaWelding
• And in Vietnam Jacom Vietnbam Ltd

K-TIG Managing Director Adrian Smith said specialist automation integrators are essential in incorporating K-TIG’s unique technology into a turnkey welding solution across industries.

“Our newly formed distributorships with these three companies present an exciting opportunity for us to continue to grow sales around the world.

“This follows our announcement in November of a new distributorship for MITUSA in the United States.

“BMC Marine Muhendislik Limited, MetaWelding and Jacom are all highly regarded in their regions and poised to substantially grow their customer base.”

He said the new third party sales channels complemented the hi-tech welder’s direct sales force.

Picture: K-TIG Managing Director Adrian Smith

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