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. DIRECTOR, MR. JACK PERKOWSKI, RETURNEDTO CHINA LAST WEEK WITH ONE OF HIS OBJECTIVES BEING TO NEGOTIATE TRANSACTIONS EXPECTED TO LEAD TO THE MANUFACTURE AND MASS PRODUCTION OF THE COATES CSRV PRODUCTS IN THE PEOPLE’S REPUBLIC OF CHINA
Wall Township, NJ – (Marketwired – August 24, 2015) Coates International, Ltd. (OTC PINK: COTE) (the “Company”) is pleased to announce that Mr. Jack Perkowski, a director of the Company has returned to The People’s Republic of China where one of his objectives will be to negotiate and possibly conclude agreements to manufacture and mass produce the Coates industrial natural gas electric power generators and other CSRV products in The People’s Republic of China.
The Company’s President and CEO, Mr. George J. Coates, comments:“Jack Perkowski was a working class kid from western Pennsylvania who got a football scholarship to Yale and went on to a successful career as an investment banker with Paine Webber.After twenty years on Wall Street, Jack asked himself whether he had the guts to do something completely different.He left his New York City lifestyle and bet the farm on China at a time when it was seen as an emerging economy and not the powerhouse it is today.For fifteen years, Jack was Chairman and CEO of ASIMCO Technologies, one of China’s largest automobile components manufacturers and a key supplier to China’s diesel engine makers. Jack founded ASIMCO in 1994 and built it into a major industrial enterprise with twelve thousand employees in seventeen plants in eight provinces across the country. Upon ASIMCO’s sale to Bain Capital, Jack founded JFP Holdings in April 2009, a merchant bank for China.
“We are honored to have Jack on our Board.He is an incredibly talented and experienced businessman.He authored a book on doing business in China, “Managing the Dragon”, which is a great read.” 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.