By maintaing the certification, I speculate that although the Timken order fell through due to joint venture issues, Timken has not severe ties with Tpac. In this paragraph below, It can be read......We (Timken & Tpac) are "confident" that we will supply excellent parts ........and "enhance" the superior Timken brand name. It ALSO states "We (Timken and Tpac)" are now in a position to handle the order on our own AND HAVE STARTED TO GENERATE COMPONENTS FOR THE ORDER, Or, it can be read "we (TPAC) are now in a position,,,,and have started generated and so on. This the announcement everyone is PATIENTLY waiting for.
Dated 7/2015 Businesswire: ...........“This order took a long time to start because we were expecting to form a joint venture with AVIC Harbin Bearings (“Harbin”) through which we would produce these parts. Both Timken and TPAC agreed that under the circumstances it was best to produce the parts in Harbin so that they would be representative of long-term production parts. Unfortunately we could not get Harbin to make a decision regarding a joint venture so we were forced to abandon that project. We are now in a position to handle the order on our own and have already started to generate components for the order. We are very grateful for the patience and professionalism exhibited by Timken, while we attempted to reach a deal with Harbin. We are confident that we will supply excellent parts through which we can establish a long term relationship with Timken regarding airframe bearings and enhance the superior Timken brand name.”
AI
