SAN MARINO, Calif.--(BUSINESS WIRE)--Trans-Pacific Aerospace Company, Inc. (“TPAC” or the “Company“) (OTCQB:TPAC), a manufacturer of spherical bearings for the commercial aerospace industry through its China-based subsidiary, is pleased to announce that it has officially received a purchase order from its first major. This validates the Company’s announcement made on March 27, 2014.
The major is a sub-tier supplier to the aerospace industry and is listed on the NYSE with a US$5.5B+ market cap. It operates in 30 countries including China and can potentially provide the Company with substantial growth opportunities given the reputation it has established within this specialized marketplace.
“Winning this business is yet another testament to the progress that TPAC is making,” said Trans-Pacific Aerospace’s CEO, Bill McKay. “Establishing customer relationships with sub-tier suppliers, like this one, and original equipment manufacturers, allows us to accelerate momentum while we work to widen our footprint in the space.”
About Trans-Pacific Aerospace
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 Aerospace’s 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 Godfrey’s 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 (www.tpacbearings.com).
Forward-Looking Statements
This press release contains forward-looking statements concerning Trans-Pacific Aerospace within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding Trans-Pacific Aerospace’s expectations for the certification of Godfrey’s Guangzhou, China production facility; the commencement of manufacturing of Godfrey’s initial product line of spherical bearings; continued growth of the market for component parts of commercial aircraft; and the potential sale of Godfrey’s bearing products. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks related to Godfrey’s inability to obtain the capital or human resources necessary to commence manufacturing of its bearing products; the inability to successfully market Godfrey’s bearing products to the commercial aerospace industry; and the inability of Trans-Pacific Aerospace and Godfrey to acquire additional capital as and when needed, and those other risks set forth in Trans-Pacific Aerospace's annual report on Form 10-K for the year ended October 31, 2013 filed with the SEC on February 13, 2014 and subsequently filed quarterly reports on Form 10-Q. Trans-Pacific Aerospace cautions readers not to place undue reliance on any forward-looking statements. Trans-Pacific Aerospace does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.