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Trans-Pacific Aerospace Company, Inc. (OTCBB: TPAC) announced today that its China subsidiary has completed a series of bearings that will give it SAE Aerospace Standard 81934 qualification upon approval by the U.S. Navy.
"These bearings were manufactured using the same techniques and procedures as the SAE-AS 81820 bearings that recently received verbal approval from NAVAIR," said Bill McKay, Trans-Pacific Aerospace CEO.
Godfrey Guangzhou Aerospace Bearings, a wholly owned foreign enterprise of Godfrey (China) Limited, Trans-Pacific Aerospace Company's 25%-owned subsidiary, is scheduled for a NAVAIR facility inspection early in 2013.
"With both SAE-AS81820 and SAE-AS81934 approval, Trans-Pacific Aerospace will be able to offer the commercial aerospace market a full spectrum of bearings," McKay added.
Aviation Industry Corporation of China (AVIC), the country's dominant aerospace contractor, forecasts China's commercial aircraft fleet size will more than triple to 6,309 by 2031, from 1,755 aircraft at the end of 2011. Bearings, such as those manufactured by Trans-Pacific Aerospace's China factory, are used throughout each aircraft.
In its China Market Outlook, AVIC also forecast that China's aviation market will grow steadily over the next 20 years, with passenger traffic rising an average of 8 percent a year and cargo to increase 9.5 percent annually.
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.