Hello All,
This morning`s alert has released some news. Here it is if you
missed it.
Trans-Pacific Aerospace Company, Inc. Qualifies for $2.2 Million
Development Grant from China
SAN MARINO, Calif.--(BUSINESS WIRE)-- Trans-Pacific Aerospace
Company, Inc. (OTCBB:
TPAC.ob - News) announced today that its China
enterprise has confirmed its eligibility to receive a 15 million
yuan ($2.2 million) business development grant from China.
"We`re delighted and appreciative that the Ministry of Science and
Technology thinks so highly of us," said Bill McKay, Trans-Pacific
Aerospace CEO. "Our company is now recognized as a domestic China
bearing manufacturer and a high value company in Guangzhou`s
Technology Development Zone. As soon as we finish our test parts
and get certified by the U.S. Navy, we`ll continue discussions on
the grant."
Should Trans-Pacific Aerospace receive the $2.2 million grant, it
will be permitted to use the funds for business development,
including but not limited to new product R&D, the purchase of
machinery and equipment, and building a global sales pipeline. The
expectation is for grant funds to be paid out in the fourth quarter
of 2011.
Trans-Pacific Aerospace Company`s self-lubricating spherical
bearings can be used in both new commercial aircraft built by
Airbus and Boeing, as well as spares for the existing fleet. Boeing
forecasts that airlines will need 30,900 new jets between now and
2029, at a cost of $3.6 trillion.
Trans-Pacific Aerospace is currently in the process of qualifying
its Guangzhou China manufacturing facility and is producing test
parts which will be subsequently submitted to the U.S. Navy for
certification.
About Trans-Pacific Aerospace (
TPAC)
Trans-Pacific Aerospace designs, engineers and manufactures
self-lubricating spherical bearings for commercial aircraft, with
planned product extensions using similar proprietary technology
into maritime, power plant and space applications. Through its
ownership in Godfrey (China), Ltd., it has a special operating
license granted by China`s Ministry of Science and Technology.
Godfrey has completed prototype manufacturing and testing in China
and the United States and is pursuing SAE parts qualification of
its facility in Guangzhou, China.
Get ready to book your profits with
TPAC.
As always, do your own research, always use stop loss orders to
protect yourself, and book your profits when in a position to do so.
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