Trans-Pacific Aerospace Announces New Revenue Source Through Establishment of Australian Partner – TPAC (Aust) Pty Ltd
Resource from: BUSINESS WIRE Likes:183
May 05,2016
NEWCASTLE NSW, Australia--(BUSINESS WIRE)--Trans-Pacific Aerospace Company, Inc. (“TPAC” or “Company”) (OTCBB: TPAC), has announced the establishment of operations in Australia - TPAC (Aust) Pty Ltd. (“TPAC Australia”). TPAC Australia operates under a licensing and services agreement between TPAC and TPAC Australia.
“We look forward to working with our already established partners, including Bower Aero, to provide OEM quality certified bearings to one of the most demanding aviation markets in the world.”
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In addition to capitalizing on the significant need of supplying qualified bearings to the Australian, Pacific Rim and Mid East markets, TPAC Australia plans to start manufacturing bearings locally, aligning the Company with the Turnbull Governments’ innovation initiative - a $1.1 billion (Australian Dollar) innovation plan that encourages and fosters entrepreneurial culture, supports start-ups, promotes science and computing, and drives innovative research.
TPAC Australia will be led by Mr. Tony Gardner from Newcastle NSW. Mr. Gardner has been actively involved in a number of commercial projects over a number of years mostly in the soft and hard commodity sector. Mr. Gardner wants to start manufacturing the TPAC products locally and bring outside intellectual property into Australia for local job creation and general growth within the Australian market. He has assembled a team of former Australian military, aerospace and marketing executives to support daily operations.
Mr. Gardner stated: “We are looking to promote TPAC Australia to our domestic commercial aerospace industry as well as the Australian defence and naval markets. Australia has just been awarded a 50-Billion-dollar Submarine contract to be constructed in South Australia. With such contracts being awarded to Australia it gives local companies the ability to bring off shore technology into Australia for more job creation and wealth within our country.
We see significant short and long term opportunities in these areas. Additionally, we see a tremendous opportunity in the commercial aviation sector throughout Southeast Asia, Southern Asia and the Middle East. There is a significant need for local and regional sources of supply for these products and TPAC Australia will work diligently to fill that need.” Mr Gardner added: “We look forward to working with our already established partners, including Bower Aero, to provide OEM quality certified bearings to one of the most demanding aviation markets in the world.”
Bill McKay, CEO of TPAC, said: “This is a key step to TPAC’s strategic initiatives, one that will continue to position ourselves as a global brand with local roots. In addition to our primary touch-points - OEMs, airlines and MROs, we believe there is considerable potential in providing support to defence forces throughout the Asia-Pacific Region. By working with Tony and his Australian partners, we will be able to effectively and efficiently explore and develop this market. Tony and his team have worked diligently developing TPAC Australia and bringing us to this moment, and we are very optimistic about the opportunities they will bring to the company in the future.”
TPAC possesses proprietary technologies which enables it to manufacture aerospace approved commercial aircraft consumable component parts in China. These components, known as “plain and self-lubricating spherical bearings”, “bushings” and “rod end bearings” are used in both new and existing aircraft. The Company has passed all qualification requirements for SAE Aerospace Standard SAE-AS81820 and SAE-AS81934 from NAVAIR (U.S. Naval Air Systems Command), the agency responsible for qualifying SAE aerospace bearings, and has been placed on the QPL (Qualified Product Listing) as a supplier. Bearings produced by TPAC are approved for transfer/export by the U.S. Department of Commerce. As such, the Company is the first and only manufacturer of SAE-certified bearings in China and one of only six aerospace bearing manufacturers in the world.
About Trans-Pacific Aerospace
TPAC uses its proprietary aerospace bearing technologies at its facility in China to manufacture and sell component parts for both new commercial and general aviation aircraft and for spares for the existing fleets. The component parts are referred to as self-lubricating spherical bearings and they help with several flight-critical tasks. TPAC is the only manufacturer in China to qualify under SAE-S81820 and 81934.
Forward-Looking Statements
This press release contains or incorporates by reference "forward-looking statements" including certain information with respect to plans and strategies of TPAC. 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 TPAC operations that could differ materially from those indicated by such forward looking statements.
(BUSINESS WIRE)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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