Trans-Pacific Aerospace Establishes Operations in Australia
The long-term outlook for the aerospace industry is extremely bullish. Strong demand for aircraft from emerging economies is expected to lead to robust growth for the industry.
In a report on the long-term outlook for the industry, Boeing Company (NYSE: BA) said that over the next two decades, it expects a need for 38,050 airplanes valued at more than $5.6 trillion U.S.
Boeing further noted in its report that aviation is becoming more diverse, with approximately 40% of all new airplanes being delivered to airlines based in the Asia Pacific region.
The robust outlook for aircraft manufacturers also augurs well for component manufacturers such as Trans-Pacific Aerospace Company Inc. (OTCPK:TPAC). Based in San Marino, California, Trans-Pacific Aerospace is a development-stage company engaged in the business of designing, manufacturing and selling aerospace component parts for commercial and militaryaircraft, space vehicles, power plants and surface and undersea vessels.
TPAC today announced the establishment of operations in Australia, TPAC (Aust) Pty Ltd or TPAC Australia. The company said that in addition to capitalizing on the significant need of supplying qualified bearings to the Australian, Pacific Rim and Mid East markets, TPAC Australia plans to start manufacturing bearings locally, aligning the company with the Turnbull government's innovation initiative - a $1.1 -billion Australian innovation plan that encourages and fosters entrepreneurial culture, supports startups, promotes science and computing, and drives innovative research. It will operate under a licensing and services agreement with TPAC.
TPAC Australia will be led by Tony Gardner, who has been actively involved in a number of commercial projects over a number of years mostly in the soft and hard commodity sector.
Gardner has already assembled a team of former Australian military, aerospace and marketing executives to support daily operations.
Gardner said that he is looking to promote TPAC Australia to the domestic commercial aerospace industry as well as the Australian defense and naval markets. He noted that Australia has just been awarded a 50-billion-Australian-dollar Submarine contract to be constructed in South
Australia and with such contracts being awarded to Australia it gives local companies the ability to bring off shore technology into Australia for more job creation and wealth within that country.
Bill McKay, CEO at Trans-Pacific Aerospace Company, said that this is a key step to TPAC’s strategic initiatives and one that will position the company as a global brand with local roots.
