SAN JUAN CAPISTRANO, Calif., Sep 09, 2010 (BUSINESS WIRE) -- Trans-Pacific Aerospace Company, Inc. /quotes/comstock/11k!tpac (TPAC 0.18, +0.01, +2.94%) announced today that Forbes published "China's Aviation Industry Takes Flight," authored by Trans-Pacific Aerospace Company's Board of Advisors member, Ray Kwong.
The feature story provides insight into how China's commercial aircraft business is as much a matter of national pride as it is one of profits. And while its ARJ-21 small regional jet goes head-to-head with similar offerings from Embraer and Bombardier, it may not be the commercially successful airliner China seeks. That being said, the ARJ is a big step forward in China becoming a major manufacturer of commercial aircraft.
"As the article says, China knows what it's doing," said Bill McKay, Trans-Pacific Aerospace CEO. "And with almost 40 years of experience, they're in this business for the long-haul and poised to become a global player. A good chunk of that plane you're flying in has parts made in China. If China has its way, that entire plane you're flying in will be made in China."
China has over 200 factories making structural parts for Boeing, Airbus and others. Trans-Pacific Aerospace has already engaged in discussions with AVIC regarding bearings for the ARJ-21 and plans to assist AVIC in the design of those bearings, which the company is hopeful it will produce.
Commented McKay: "The Trans-Pacific Aerospace engineering and design team has previous experience in designing bearings for Embraer's ERJ and Bombardier's CRJ series aircraft, upon which China's ARJ is based."
You can read "China's Aviation Industry Takes Flight" here (http://twurl.nl/cvxoff), as well as Kwong's look at China's C919 here (http://twurl.nl/az4k6x). All of Kwong's previous Forbes articles can be accessed here (http://twurl.nl/l6tufl).
Trans-Pacific Aerospace Company plans to use its proprietary aerospace bearing technologies to manufacture and sell component parts for both new commercial aircraft and spares for the existing commercial fleet, initially through a joint venture in China. The component parts are referred to as self-lubricating spherical bearings, and they help with several flight critical tasks including aircraft flight controls and landing gears.
Information About Forward-Looking Statements:
This press release contains or incorporates by reference "forward-looking statements" including certain information with respect to plans and strategies of Trans-Pacific Aerospace Company, Inc. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words "believes," "suggests," "anticipates," "plans," "expects," and similar expressions are intended to identify forward-looking statements.
There are a number of events or actual results of Trans-Pacific Aerospace Company, Inc. operations that could differ materially from those indicated by such forward-looking statements.
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