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TZ receives purchase orders from Ricoh South Africa valued at more than 10% of 2017 revenues

Published: 12:02 22 Mar 2018 AEDT

TZ Limited's security devices
Purchase orders from Ricoh South Africa totalled about $2.7 million

TZ Limited’s (ASX:TZL) wholly-owned subsidiary TZI Australia Pty Limited has received purchase orders from Ricoh South Africa totalling about $2.7 million.

These relate to the supply of Smart Lockers, system electronics and software to a global transport and logistics company for the South African market.

One purchase order covers the supply of TZ electronics, proprietary firmware and software for the upgrade of a large operational network of over 100 existing Locker Banks.

This is a significant development given that the total purchase order value represents more than 10% of TZ Limited’s fiscal 2017 revenues.

TZ Limited benefiting from increased demand for security products

TZ Limited is a prominent player in the SMArt Device™ technology industry. 

Its technology combines state-of-the-art secure mobile access (SMA) actuated intelligent fastening and locking devices with its remote software control. 

The company’s systems deliver asset protection and solutions for security, monitoring and control applications across a number of market segments.

TZ Limited supplies products and solutions to global corporations operating in areas such as data centres, automated parcel lockers and the e-commerce market.

New Smart Lockers in demand

One of the purchase orders relates to the supply of new TZ Smart Lockers, doubling the size of the installed base as part of a broader Locker Network expansion initiative.

Working with Ricoh South Africa, a turn-key solution was offered to the customer that provided for the upgrade and migration of the existing network system to the TZ platform.

This covered the supply, installation and commissioning of new TZ Smart Locker Banks and the ongoing service and maintenance of the aggregated network.

The pilot of the Locker Bank upgrade has been successful and is in full-scale deployment for completion by the end of the month.

Supply of the new TZ Locker Banks is expected to be completed by June 30, 2018.

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