SAN MARINO, Calif.--(BUSINESS WIRE)-- <\/p>\n
Trans-Pacific Aerospace Company, Inc. (TPAC) announced today that it has acquired a 55 percent ownership interest in Godfrey (China) Limited, a Hong Kong corporation. <\/p>\n
Godfrey (China) Limited's wholly foreign owned enterprise, Godfrey Guangzhou Aerospace Bearings, recently passed all qualification testing for SAE Aerospace Standard 81820 from the U.S. Navy, becoming the first and only manufacturer in China qualified to make bearings under this standard. <\/p>\n
To date, Trans-Pacific Aerospaces operations have focused on facilitating the development of the Guangzhou production facility, and the design and engineering of Godfreys initial product line of spherical bearings. <\/p>\n
\"We're very pleased with our majority stake acquisition,\" said Bill McKay, Trans-Pacific Aerospace CEO. \"The investment is another step in implementing our objective of developing our business in the fast-paced China market and beyond. <\/p>\n
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. <\/p>\n
China is the world's largest aviation market outside of the United States, with Aviation Industry Corporation of China (AVIC), the country's dominant aerospace contractor, forecasting that China's commercial aircraft fleet will more than triple to 6,309 by 2031, from 1,755 aircraft at the end of 2011. <\/p>\n
About Trans-Pacific Aerospace (TPAC) <\/p>\n
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 Aerospaces operations have focused on assisting its Chinese subsidiary, Godfrey (China) Limited, in the development of its production facility in Guangzhou, China and the design and engineering of Godfreys initial product line of spherical bearings. Godfrey has a special operating license granted by China's Ministry of Science and Technology. Godfrey has obtained SAE parts qualification of its facility in Guangzhou, China. <\/p>\n
Information About Forward-Looking Statements <\/p>\n
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Trans-Pacific Aerospace Company Acquires 55% Stake in Godfrey (China) Limited<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" SAN MARINO, Calif.--(BUSINESS WIRE)-- Trans-Pacific Aerospace Company, Inc. (TPAC) announced today that it has acquired a 55 percent ownership interest in Godfrey (China) Limited, a Hong Kong corporation Continue reading