Intelligent Fastener Maker TZ Ltd. Enters Aerospace Market

Jason Sandefur

Intelligent fastener maker TZ Ltd. has entered the aerospace market by signing an agreement with Precilec to provide its Intevia technology for Precilec”s aircraft seat actuation systems, OzEquities reports. TZ has also signed a letter of intent with Airbus.
These developments reportedly have Chicago-based TZ predicting the company will quickly achieve $250 million in annual sales for its fastening technology, which use integrated microprocessors to remotely operate fasteners. TZ executives believe the company has potential to achieve annual sales of $450 million within the next five years.
“Revenue is likely to ramp up aggressively in the short term,” writes Jenny Prabhu of OzEquities. “New customers are being signed on, presentations are being made and well received and new products are being launched with widespread industrial applications, apart from aerospace and automotive applications.”
TZ reportedly plans to list the company with Nasdaq in the next year.
Acument Global Technologies is TZ”s second largest shareholder, with 10.16% of TZ stock. \ �2007 FastenerNews.com