Australia's Troubled Forge Group Enters Receivership

PERTH, AUSTRALIA--March 18, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--Mining contractor Forge Group Limited (ASX:FGE) (Perth, Australia) has entered voluntary administration, following the withdrawal of financial support by ANZ Bank and other group financers. Forge Group had announced a trading halt in February, and it appointed KordaMentha Pty Limited (Perth, Australia) as receiver and manager to handle the financial operations of the company, in cooperation with joint and several administrators.