Smart Fastener Designer TZ Ltd. Expects to Double Revenue
Smart Fastener Designer TZ Ltd. Expects to Double Revenue
Jason Sandefur
Computerized fastener designer TZ Ltd. predicts its revenue will nearly double in the next fiscal year to $24.4 million, boosted by its partnership with Textron Fastening Systems. TFS paid $10 million to license TZ”s Intevia intelligent fastening technology. TFS unveiled commercial applications for the new fasteners with embedded microchips in April.
TZ CEO Chris Kelliher told the Australian Financial Review that his company has a clear growth strategy. “Licensing and royalties mean zero cost of goods and zero cost of sales. To a large extent we are emulating the Microsoft model by creating a standard and then finding global partners to roll it out,” Kelliher explained.
According to the Review, TZ raised more than $15 million through listings on the Australian Stock Exchange. Web: tz.net �2005 FastenerNews.com
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