SOURCE: Coates International, Ltd.

October 04, 2013 07:00 ET

Coates International, Ltd. Signs Preliminary Agreement With Chinese Government Yesterday to Establish Large Industrial Engine and Generator Manufacturing Plants in China to Mass Produce the Coates CSRV Products; the Total Investment Is Approximately 1,500,000,000 USD

WALL TOWNSHIP, NJ--(Marketwired - Oct 4, 2013) - Coates International, Ltd. ("the Company") (OTCQB: COTE) -- There are also two other Chinese companies in this deal of which Coates International, Ltd. already executed letters of intent and confidentiality with.

  • Mr. George J. Coates comments, "It is vitally important to have the Chinese government in the deal because it gives our Company a margin of security on our proprietary intellectual property, even though we have patents in China, on our CSRV technology. We have customers all over the world and it is most important for our Company to get into production as soon as possible"
  • We plan to manufacture many CSRV products such as large industrial engines for marine application, industrial electric power generators, home generators, heavy truck, and bus engines operation on natural gas, CNG, LNG, propane and a combination of other fuels. Coates has many more products that will be produced in China.
  • The other Chinese companies are manufacturers in this industry and will be involved in the production operations. We are extremely pleased with the great effort and progress that our exclusive liaison agent to China, Mr. James Pang, has made. He is to be commended for his perseverance and excellent business expertise.

There can be no assurance that the Company will be successful in any of the above endeavors.

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.

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