Coates International, Ltd. Signs Letter of Intent With Another Chinese Industrial Generator Manufacturer
WALL TOWNSHIP, N.J., Nov. 26, 2012 /PRNewswire/ -- Coates International, Ltd. (NASDAQ OTCBB: COTE) –Coates International Ltd. (the "Company") signed a Letter of Intent today with another Chinese industrial generator manufacturing corporation. This is a very large manufacturer and much more suitable for Coates to join forces with for large production quantities of CSRV products.
Indications of demands for our natural gas CNG, LNG, propane, syngas, flare off gas electric power CSRV industrial engine generators are rising and the Company must start producing its products as soon as possible to fulfill orders of approximately 11,000 units per year. This Chinese manufacturing corporation is headquartered in Hong Kong which has a simpler environment for conducting business.
Management believes that the synergy from working together with this Chinese company could enhance shareholder value and provide a shorter timeframe for the Company to start up production. A visit by the Chinese company's senior management is now being arranged by our exclusive liaison agent to China, Mr. James Pang. The name of the Chinese Company cannot be announced until a definitive transaction is entered into.
There can be no assurance that the Company will be successful in concluding a business venture with this Company.
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.