Trans-Pacific Aerospace Company, Inc. Targets Boeing’s $250 Million Bearings Business Needs
April 20 2016 - 11:00AM
InvestorsHub NewsWire
HUNTINGTON, CA -- April 20, 2016 -- Newswire
--Trans-Pacific Aerospace (OTCQB:
TPAC) would like to
take this moment to thank you all for your patience while we endure
development and growth challenges. We made a decision to defer
releasing information until we were certain of TPACs direction due
to financial and marketing challenges that we are now
resolving.
With that said, this brief is to
provide an update on present day situations that impact
Trans-Pacific Aerospace.
After successfully completing and
becoming registered with Boeing, TPAC moves to the next
qualification process -- Quality Assurance. Boeing will
position TPAC on a fast track certification process for approval
under the Boeing Quality Management System (“BQMS”) as soon as all
necessary documentation has been completed and supplied to Boeing.
Afterwards, a site visit by Boeing to TPAC operations will be
scheduled. We anticipate no issues passing Boeing’s BQMS
review.
TPAC remains a top-tier one of
six firms in the world certified by NAVAIR to design and
manufacture specific types of self-lubricating bearings used in the
manufacture of Boeing and other commercial aircraft. However,
even with that success, TPAC will need to evolve its manufacturing
by increasing production capabilities by 40% over the next 6 months
to one year to include will-call service. Boeing’s new bearing
business averages $250 million a year to produce approximately 500
aircrafts. The entire industry is approximately $1.5 billion
annually, for new aircraft use and for spares for the existing
fleet. The end-users for these bearings include Boeing,
Airbus, COMAC, Embraer and Bombardier, together with most other
commercial and general aviation aircraft manufacturers.
TPAC will establish itself as a premium service
provider with one stop shop capacity. Our goal is
simple: capture a substantial portion of the Boeing, Airbus, COMAC,
Embraer and Bombardier new and spares bearing business market share
in the next 18 months. Over the next several announcements
we will release our directional plan that expresses exactly how we
will accomplish this.
TPAC has presently appointed
financial and business development consultants along with stock
trading experts for the reconstruction of TPAC’s financial assets,
holdings and manufacturing operations.
TPAC’s financial team has begun
to produce work on sourcing investment capital by meeting with
EX-IM Bank representatives to clearly define the application
process. Ex-IM Bank is the number one lender to Boeing and many of
Boeing-like projects and their Eco Supply Vendors. TPAC
strives to complete the application submittal by month
end.
TPAC management along with
business development and financial entities are working to outline
a specific project plan that will be made available to all
shareholders within 45 to 90 days.
As an ongoing effort to keep you informed, TPAC will be creating
timely announcements over the 45 to 90 day
period.
Again thank you all for investing in
TPAC.
TPAC Management
CONTACT
Corporate: www.tpacbearings.com
Twitter: https://twitter.com/TPACbearings
Investor Relations: tpacnews@talkwithus.com