Coates International, Ltd. Stockholders Update: A Delegation Of Six Top Business Executives From China To Visit Coates International Research Headquarters In New Jersey
WALL TOWNSHIP, N.J., Dec. 6, 2012 /PRNewswire/ — Coates International, Ltd. (NASDAQ OTCBB: COTE) – Coates International Ltd. (the “Company”) has signed visa invitation documents for a delegation of six top business executives and (owners) of one of the largest industrial engine and generator manufacturers in China, their corporate headquarters is located in Hong Kong. Their visit is scheduled for December 16, 2012 to January 15, 2013.
James Pang, our exclusive liaison agent to China, will accompany them to the Coates headquarters.
The Company has already executed letters of intent and confidential agreements.
Management is enthusiastic about this opportunity because the process of transacting business with their company headquarters based in Hong Kong is generally recognized to be far less complicated than the process for working with companies based in mainland China.
Demonstration of the Industrial CSRV Natural Gas generator under full load operating on compressed natural gas (“CNG”) mixed with very small amounts of diesel and then switched over to CNG only, the propane-fueled CSRV generator, gasoline-powered CSRV engines and various other engines will be observed in operation.
Management believes that this manufacturer would be a strategic accomplishment because it would provide a much shorter time frame for getting into full production because the Hong Kong Company already has existing large manufacturing capacity and skilled labor for mass production.
- On November 28, 2012 The Company hosted a visit at its headquarters for Mr. Kunjal Patel, a senior executive from a major company in India to explore the possibilities of setting up manufacturing and production operations in India of Coates CSRV small natural gas engines and small propane generators.
- The Company is also continuing its efforts to establish manufacturing and production operations of its industrial natural gas, CNG, LNG, and propane engine generators in the United States. Management is working diligently to accomplish this goal.
- After these visits the Company intends to reschedule the open house visit for all its stockholders.
- Management also believes that these ventures will enhance shareholders value in Coates International, Ltd.
There can be no assurances that any of the prospective transactions and objectives can be successfully consummated or achieved.
Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Please see our filings with the Securities and Exchange Commission. Our public filings with the SEC may be viewed and printed on the website maintained by the SEC at http://www.sec.gov.
Investor Relations Contact:
Equiti-trend Advisors, LLC
SOURCE Coates International Ltd.