Innovations (Global) Pty Ltd was set up to commercialise a patented Riveting Tool that will drill and set Drill Point Rivets in one operation. Normally two tools are used to set Pop or Blind Rivets – one tool to drill a hole, the other to set the rivet. Our Tool will cut down on time in setting rivets, thereby cutting costs, which all tradesmen desire. We built a prototype tool which proved the mechanical action in setting Drill Point Rivets. Code: IGPL
Riveting SystemOur Dynamic Riveting System, which comprises of a Riveting Tool and Drill Point Rivets, will most certainly capture the global markets. It will be the only Riveting Tool on the market that can set a Rivet in one hit/operation. From market research, major fastening companies have being trying to develop such a system for many years.
We could go the route of licensing the patented innovation (Riveting Tool) (Drill Point Rivets) to one of the major fastening companies. However, our preference is, to have an Investor finance the project, or in preference, look for a Joint Venture with a suitable company. We provide the IP and Technical know-how – the Investor/Joint Venture Partner provides the funding.
Future management of the Riveting Project will be negotiated with the interested party. We would welcome a top experienced executive to be involved in this project.
From our research, the global market for rivets in 2004 was US$ 50 Billion dollars. We would expect that to have increased. Our target customers are all Fastening Companies, who have distribution into hardware stores, or who directly supply major companies who build for example Ships/Boats/Factories/Major Constructions etc, or who supply directly to the Army/Navy.
When the Riveting Tool goes into production, we will be setting up in all trade fairs, to sell the Riveting Tool & Drill Point Rivets. Demonstrating the Tool to buyers from many countries, will ensure very good sales. In addition, all fastening companies globally, who distribute into the retail sector, will be contacted by email, and directed to our website. A Video demonstration of our Riveting Tool setting Drill Point Rivets will be available on website.
The only competition in the global markets – the present method of fastening pop or blind rivets, which has been around for many years.
As China produces components for our tool at a fraction of the cost it would be here in Australia, and with labour costs so very low, we know that to set up in Hong Kong/China, would ensure far higher profit margins for both the Riveting Tool & Drill Point Rivets.
We envisage setting up a company in Hong Kong, to manage the Riveting Project. As all components for the Riveting Tool are manufactured in China, once the Riveting Tool has been fully tested, and ready for the markets, a factory can be rented where the Tool will be assembled /packaged / and made ready for shipment. A highly qualified mechanical engineer would be employed to work on this project with us.
We know that all the components for our Riveting Tool can be produced in China for below US$ 75 dollars. As this Tool will be top of the range, we believe that the retail price will be in the region of US$ 700 – $ 850. Within a five year period, we would expect sales of the Riveting Tool to well exceed 500,000.
We obtained a quotation for the manufacture of Drill Point Screws. The cost to produce the screws indicated that the Drill Point Rivets can be produced at a very low cost. 1,000 Drill Point Screws — US$ 8.04 cents or US$ 0 .00804 cents each. We envisage our Drill Point Rivets will retail at US$ 0.12 cents each, which will allow an excellent mark up for our company.
A company or companies in China will be licensed to manufacture our patented Drill Point Rivets.
We are in the process of filing further patents for the Riveting Tool & Drill Point Rivets.
We have received a quotation from a company in China – www.star-prototype-china.com, to have CAD Drawings for the Tool completed, and have Rapid Prototypes made for the inner/outer housing for the Tool.
This company have carried out work for Black & Decker, so have excellent reference.
We now look to negotiate with an Investor/s or company to set up this Riveting Project.
We know that with good company structure, this global business will bring in very high revenue.