Trans-Pacific Aerospace would like to take this moment to thank you all for your patience while we endure development and growth challenges. We made a decision to defer releasing information until we were certain of TPACs direction due to financial and marketing challenges that we are now resolving.
With that said, this brief is to provide an update on present day situations that impact Trans-Pacific Aerospace (OTCQB: TPAC).
After successfully completing and becoming registered with Boeing, TPAC moves to the next qualification process -- Quality Assurance. Boeing will position TPAC on a fast track certification process for approval under the Boeing Quality Management System (“BQMS”) as soon as all necessary documentation has been completed and supplied to Boeing. Afterwards, a site visit by Boeing to TPAC operations will be scheduled. We anticipate no issues passing Boeing’s BQMS review.
TPAC remains a top-tier one of six firms in the world certified by NAVAIR to design and manufacture specific types of self-lubricating bearings used in the manufacture of Boeing and other commercial aircraft. However, even with that success, TPAC will need to evolve its manufacturing by increasing production capabilities by 40% over the next 6 months to one year to include will-call service. Boeing’s new bearing business averages $250 million a year to produce approximately 500 aircrafts. The entire industry is approximately $1.5 billion annually, for new aircraft use and for spares for the existing fleet. The end-users for these bearings include Boeing, Airbus, COMAC, Embraer and Bombardier, together with most other commercial and general aviation aircraft manufacturers. TPAC will establish itself as a premium service provider with one stop shop capacity. Our goal is simple: capture a substantial portion of the Boeing, Airbus, COMAC, Embraer and Bombardier new and spares bearing business market share in the next 18 months. Over the next several announcements we will release our directional plan that expresses exactly how we will accomplish this.
TPAC has presently appointed financial and business development consultants along with stock trading experts for the reconstruction of TPAC’s financial assets, holdings and manufacturing operations.
TPAC’s financial team has begun to produce work on sourcing investment capital by meeting with EX-IM Bank representatives to clearly define the application process. Ex-IM Bank is the number one lender to Boeing and many of Boeing-like projects and their Eco Supply Vendors. TPAC strives to complete the application submittal by month end.
TPAC management along with business development and financial entities are working to outline a specific project plan that will be made available to all shareholders within 45 to 90 days.
As an ongoing effort to keep you informed, TPAC will be creating timely announcements over the 45 to 90 day period.
Again thank you all for investing in TPAC.
Questions? Email IR@tpacbearings.com