SOURCE: Trans-Pacific Aerospace Company, Inc.

August 23, 2010 09:00 ET

Trans-Pacific Aerospace Company, Inc. Design Team Transitions to New Product Development

SAN JUAN CAPISTRANO, CA--(Marketwire - August 23, 2010) -  With the successful completion of prototype manufacturing and testing in China, Trans-Pacific Aerospace Company, Inc. (OTCBB: TPAC) announced today it is starting development of additional aerospace bearings.

"Our intent is to pursue both self-lubricating and metal-on-metal swaged and loader-slot bearings to meet the demands of the commercial fleet and the OEMs, including Boeing, Airbus, Embraer and Bombardier and their respective sub-tier contractors," said Bill McKay, Trans-Pacific Aerospace CEO.

The company has already engaged in discussions with AVIC regarding bearings for the Comac C919 and plans to assist AVIC in the design of those bearings, which the company is hopeful it will produce. The C919, the largest commercial airliner designed and built in China, is a 168-190 seat narrow-body jet, with deliveries slated to begin in 2016.

Trans-Pacific Aerospace is also initiating a program to develop Boeing and Airbus standard bearings for use in the commercial fleet, as well as an initiative to obtain FAA approval on its designs for the PMA market.

McKay commented, "These products will give Trans-Pacific Aerospace the ability to service a wide range of customer needs beyond SAE standards and will open the doors to a market exceeding $2 billion annually." The company is on schedule to submit qualification samples to the U.S. Navy for SAE-AS81820, 81934 and 81935 by the end of October 2010.

Trans-Pacific Aerospace Company plans to use its proprietary aerospace bearing technologies to manufacture and sell component parts for both new commercial aircraft and spares for the existing commercial fleet, initially through a joint venture in China. The component parts are referred to as self-lubricating spherical bearings, and they help with several flight critical tasks including aircraft flight controls and landing gear.

Information About Forward-Looking Statements

This press release contains or incorporates by reference "forward-looking statements" including certain information with respect to plans and strategies of Trans-Pacific Aerospace Company, Inc. For this purpose, 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 Trans-Pacific Aerospace Company, Inc. operations that could differ materially from those indicated by such forward-looking statements.

Contact Information

  • Contact Investor Relations:

    William McKay
    Chief Executive Officer
    626-755-1211
    Email Contact
    Website: www.transpacificaerospace.com