China is emerging as the 'big driver' behind the growth in aircraft maintenance, repair and overhaul (MRO) business globally, with China's MRO market representing 5% of the world's total or one-third of all Asian MRO activity.
"Aside from the exposure to the senior management of over 200 airlines and MRO companies, we're particularly interested in participating in discussions about the future of PMA parts in China," said Bill McKay, Trans-Pacific Aerospace CEO.
Trans-Pacific has been approached by a number of manufacturers in the United States about producing PMA in China. Parts Manufacturer Approval (PMA), administered by the FAA, is a combined design and production approval for modification and replacement parts. "Our plan would be to engineer, design and manufacture parts in China, then send them to our facility in the U.S. for finishing and PMA approval," said McKay. "If and when PMA approval can be issued by the FAA in China, Trans-Pacific will be in a leadership position."
China Aviation MRO Summit 2010 will be held in Beijing in May.
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 gears.
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 Investor Relations: William McKay, Chief Executive Officer 626-755-1211 Email Contact