Trans-Pacific Aerospace Company, Inc. Provides Update on Progress in China
GUANGZHOU, China--(BUSINESS WIRE)--Trans-Pacific Aerospace Company, Inc. (OTCBB: TPAC.OB) CEO Bill McKay, who is currently in China, today reported on progress for U.S. Navy qualification testing.
“We’ve started production on more than 1,000 bearings to be submitted for qualification,” said McKay from Godfrey (China) Limited, the company’s 25%-owned subsidiary, “and I’m so glad that we’ve done this so many times before.” The Trans-Pacific Aerospace manufacturing and quality control team, in China from the U.S., has successfully qualified over 3,000 different types of bearings for both SAE and FAA commercial aircraft approval.
McKay commented: “The nuances in making these parts in China, while subtle, require a great deal of focus. The logistics of getting raw materials in from the States, buying and shipping machinery from the far reaches of China, and then making sure that the machinery performs to the same accuracy that we’re used to could have been an Excedrin headache. Everything has come together, though, and I am particularly pleased that the machinery and equipment we’ve purchased far surpasses our expectations, so much so that we plan to acquire finishing machinery here for specialized post-assembly work that we had previously planned to do in the U.S.”
Trans-Pacific Aerospace is currently in the process of qualifying Godfrey’s Guangzhou China manufacturing facility and is producing test parts which will be subsequently submitted to the U.S. Navy for certification. Subject to U.S. Navy certification, Godfrey expects to commence manufacturing its self-lubricating spherical bearings in the third quarter of 2011.
“We're really excited about the way things have been going here and in my view it’s a testament to the contributions and hard work made by our team both here in China and in the States, including Greg Archer, Dave Brandon, Kevin Gould, Alex Kam, Ray Kwong, Rod LaMay, Andy Lerma, Peter Liu and Nick Nguyen. Their insight, dedication, experience and commitment exemplify teamwork, which we believe will lead to the success of Godfrey Guangzhou and TPAC.”
About Trans-Pacific Aerospace (TPAC)
Trans-Pacific Aerospace is in the business of designing, engineering and manufacturing self-lubricating spherical bearings for commercial aircraft, with planned product extensions using similar proprietary technology into maritime, power plant and space applications. To date, Trans-Pacific Aerospace’s operations have focused on assisting its 25%-owned Chinese subsidiary, Godfrey (China) Limited, in the development of its production facility in Guangzhou, China and the design and engineering of Godfrey’s initial product line of spherical bearings. Godfrey has a special operating license granted by China's Ministry of Science and Technology. Godfrey has completed prototype manufacturing and testing in China and the United States and is pursuing SAE parts qualification of its facility in Guangzhou, China.
Information About Forward-Looking Statements
This press release contains forward-looking statements concerning Trans-Pacific Aerospace within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding Trans-Pacific Aerospace’s expectations for the certification of Godfrey’s Guangzhou, China production facility; the commencement of manufacturing of Godfrey’s initial product line of spherical bearings; continued growth of the market for component parts of commercial aircraft; and the potential sale of Godfrey’s bearing products. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks related to delays or failure of certifying Godfrey’s Guangzhou China manufacturing facility; Godfrey’s inability to obtain the capital or human resources necessary to commence manufacturing of its bearing products; the inability to successfully market Godfrey’s bearing products to the commercial aerospace industry; and the ability of Trans-Pacific Aerospace and Godfrey to acquire additional capital as and when needed, and those other risks set forth in Trans-Pacific Aerospace‘s annual report on Form 10-K for the year ended October 31, 2009 filed with the SEC on February 12, 2010 and subsequently filed quarterly reports on Form 10-Q. Trans-Pacific Aerospace cautions readers not to place undue reliance on any forward-looking statements. Trans-Pacific Aerospace does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.