TZ Limited (ASX: TZL) has appointed Paul Casey as a non-executive director of the company, effective immediately, to replace Dickory Rudduck who has ceased to be a director due to health issues. Rudduck will remain as a consultant.
Casey brings over 30 years and early stage investing, and was President and CEO of Hawaiian Airlines from 1997 until 2002. Mark Bouris is chairman of TZ Limited.
Earlier in the week the company raised $1.45 million from various institutional and sophisticated investors through a share placement of 14.5 million ordinary shares at $0.10 per new share.
TZ Limited formalised a teaming agreement with leading domestic and international express delivery company TNT Express, further building up its parcel distribution and on-line logistics network.
This followed a recent teaming agreement with Fastway Couriers, existing agreements with Temando and Toll Group as well as imminent first stage deployment of the Parcel Locker System.
These and other agreement and partnerships struck to date for TZ Limited could mean its A.D.A.M locker network could account for as much as 60% of the parcel deliveries in Australia.
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