Mr. Jack Perkowski, a Director of Coates International, Ltd., provides insight into the economy and stock market in China.
THE $100,000,000.00 USD LICENSE AND MANUFACTURING DEAL WITH RENOWN POWER INC. HONG KONG AND COATES POWER INC., LTD. IS ON. COATES INTERNATIONAL, LTD. EXECUTIVES RETURNED FROM THEIR HIGHLY SUCCESSFUL THREE WEEK VISIT TO CHINA.
COATES INTERNATIONAL, LTD. HAS FIRM ORDERS FOR COATES CSRV ELECTRIC POWER NATURAL GAS, DUAL-FUEL AND STAND-ALONE PROPANE GENERATOR SETS, VALUED AT $142,000,000 USD AND IS WORKING WITH CUMMINS POWER TO SUPPLY LOWER SHORT BLOCKS, SKIDS, PARTS AND COMPONENTS
Wall Township, NJ – (Marketwired – October 9, 2015) Coates International, Ltd. (OTC PINK: COTE) (the “Company”) has received orders now totaling $142,000,000 USD and is working with Cummins Power to supply short blocks, skids, generators, controls and certain parts and components.
Last Friday, management executed final agreements regarding these firm orders for distribution to countries comprising the Middle East/North Africa area (“MENA”). Most of these orders are for stand-alone propane and diesel 35 – 50 KW synchronous CSRV generator sets.
Company President and CEO, Mr. George J. Coates, comments: “Delivery of the products is scheduled to start within six months as it will take time to get manufacturing of these smaller gen sets up to speed. However, we should be shipping the industrial CSRV generators on an earlier timeframe.
Cummins Power is to deliver to the Company the first industrial gen set in early November 2015.
- We have been held up by delayed deliveries from suppliers for certain production parts. They are expected to be received shortly.
- A number of industrial gen sets are in the production process at Coates’ headquarters.
- Every CSRV gen set will undergo standard operating and quality control inspection before being shipped.
- We are extremely busy at the moment and it is not possible to respond to all e-mails from stockholders.
- A stockholders’ update will be forthcoming in the near future.”
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.