A statement on KMG's website dated Friday says the company officials visited the accident site and conducted metallurgical tests.
It says the corrosion "dangerously reduced" the thickness on the wall of the beam holding a passenger gondola on the swinging and spinning ride. The company says the ride was 18 years old.
Tyler Durrell died from blunt force trauma injuries after being tossed into the air when the Fire Ball ride broke apart July 26. Four people remained hospitalized last week, including one woman in a coma.
KMG ordered similar rides shut down worldwide after the accident.