High-speed welding technology developer K-TIG (ASX: KTG) has signed its first South East Asian customer for its welding as a service (Waas) licensing model.
Singapore’s Steel-Ti Precision Welding will build a new manufacturing facility in Singapore to be completed in 2020.
This will build high value tanks and vessels for oil & gas, aviation and shipping industries and piping for the liquefied natural gas industry to local and Japanese markets.
Ki-Tig is commercialising a former CSIRO technology known as Keyhole TIG which operates at a fraction of the cost and time of conventional welding systems.
Under the licence agreement, K-Tig’s equipment will record and monitor all usage to provide assistance and software updates as well as transparent reporting and billing.
Michael Teo of Steel Ti Precision Welding said the new facility would allow his company to grow his business exponentially.
Teo said: “We are excited to be the first company in SE Asia to deploy the latest generation of K-Tig’s technology and one of the first in the world to to adopt the welding as a service model pioneered by K-Tig.
Neil Le Quesne, president of marketing development of K-Tig said: “K-Tig’s welding technology provides such speed of output that welding is no longer the bottleneck in the fabrication process.
“Öur customers (can) re-think their production from end to end.”
Picture: K-Tig/Neil Le Quesne, K-Tig (left) and Michael Teo, Steel Ti Precision Welding
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