K-TIG (ASX:KTG) and Keyhole TIG - Voluntary Administration

K-TIG (ASX:KTG), a South Australia-based company specialising in keyhole welding, and Keyhole TIG, its wholly-owned subsidiary, entered voluntary administration on 22 February.

The company’s innovative keyhole welding technology was initially developed by the government’s Commonwealth Scientific & Industrial Research Organisation and the CRC for Welded Structures.

The company, which was rumoured to have been considering an acquisition of UK-based advance manufacturing company Graham Engineering earlier this month, did not provide a reason for the administration.

Richard Tucker and John Bumbak of KordaMentha were appointed joint administrators.