Trans-Pacific Aerospace Company, Inc., which is in the business of designing, engineering and manufacturing self-lubricating spherical bearings for commercial aircraft, is pleased to announce today that its Chinese subsidiary, Godfrey Guangzhou Aerospace Bearings (“Godfrey”), has received additional SAE-AS81820 bearing and SAE-AS81935 bushing approvals from NAVAIR.
This achievement is a milestone event for the Company and will allow it to offer a larger catalog of qualified products to an industry forecasted to triple in size over the next 20 years. Godfrey is the only manufacturer in China qualified to make bearings under SAE-AS81820 and SAE-AS81934 standards. This achievement allows TPAC to compete in a sector that yields revenues of US$200 million per annum, thus widening the Company’s growth potential and competitive landscape.
"We are now in a position to offer potential customers a wide range of products with a complete catalog of parts," said Bill McKay, Trans-Pacific Aerospace CEO. "We have initiated new customer contact in the United States and China and we are seeing positive feedback."
The Company also announced today that it has appointed new members to the board of directors of Godfrey China, its Hong Kong subsidiary. New members to the Godfrey China board are Greg Archer, Jason Arnold, Kevin Gould, Clairmont Griffith and Ray Kwong, who are also board members of TPAC.
"The addition of these members to the board of Godfrey China assures that the interests of Trans-Pacific Aerospace will be reflected in the decision-making process at Godfrey Guangzhou," noted McKay. China is the world's fastest growing aviation market, with most recent Boeing forecasts noting it will need 5,980 new planes over the next 20 years. Every commercial aircraft made by manufacturers such as Airbus and Boeing uses over 3,000 SAE-AS81820 and SAE-AS81934 parts.
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