TFS Licences TZ Fastener
October 25
00:00
2004
TFS Licences TZ Fastener
Jason Sandefur
Textron Fastening Systems signed a $10 million licensing deal with TZ Fastener Co. to continue making a new “intelligent” fastener. The deal permits TFS to manufacture a new type of fastener that can be operated remotely from a wireless computer. The product reportedly can enhance the speed for manufacturing and servicing cars and aircraft.
Under the agreement, TZ will receive $5 million by January 30, 2005, and a further $5 million, in two stages, before the end of that year.
The terms of the deal allow TZ to continue its partnership with Alcoa Fastening Systems to develop a separate type of fastening system for the assembly of extruded aluminum products. Web: textron.com �2004 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment