Trans-Pacific Aerospace Company, a designer, engineer, and manufacturer of self-lubricating spherical bearings for commercial aircrafts, has acquired a 55 percent stake in Godfrey (China) Ltd., a Hong Kong corporation.
The acquisition is in line with Trans-Pacific’s mission to tap into the Chinese market, which is the world’s largest aviation market outside of the United States. The Aviation Industry Corporation of China (AVIC) projects that the country’s commercial aircraft fleet will more than triple by 2031 vs. the number of aircrafts in 2011.
“We’re very pleased with our majority stake acquisition,” Trans-Pacific CEO Bill McKay stated in the press release. “The investment is another step in implementing our objective of developing our business in the fast-paced China market and beyond.”
Godfrey (China) Ltd.’s wholly foreign owned enterprise, Godfrey Guangzhou Aerospace Bearings, recently obtained and is the only manufacturer in China with SAE Aerospace Standard 81820 qualification from the U.S. Navy.
To date, Trans-Pacific’s operations have centered on developing the Guangzhou production facility, as well as working on the design and engineering of Godfrey’s initial product line of spherical bearings.
For more information, visit www.transpacificaerospace.com
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