WALL TOWNSHIP, N.J., Aug. 13, 2013 /PRNewswire/ -- Coates International, Ltd. (NASDAQ OTCBB: COTE)–Coates International, Ltd. (the "Company") President and CEO George J. Coates received a personal invitation from the Chinese government to visit Huangang, China. The University of Shanghai engineers and professors already visited the Coates headquarters in the USA. The government officials expressed great interest in the Coates CSRV patented technology.
The Company has signed confidential agreements and commitment letters with a major Chinese manufacturing and casting company.
- Management is very pleased with the progress of the Chinese merger deal with Coates International, Ltd. that its Exclusive Liaison to China, James Pang, is working on.
- Mr. Coates comments, "This is one of the most significant moves that Our Company will make to establish large production operations in China of all the Coates products for distribution throughout the Eastern Hemisphere. We will have a casting operation for the production of engine blocks and other parts to be made, machining capabilities, and a large assembly plant including a vast pool of assembly workers for the mass production operations. This is a win-win for both companies."
There can be no assurance that the Company will be successful in any of its 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.
Coates International, Ltd.
SOURCE Coates International Ltd.