WALL TOWNSHIP, NJ - October 24, 2013 - Coates International, Ltd. ("the Company") (OTCQB: COTE) is pleased to announce that it is building a special CSRV® Coates engine for testing and demonstration for the Chinese Government. This CSRV® engine will be put through dyno testing under full load 24/7 for emissions, fuel consumption and durability under extreme conditions.
Mr. Coates comments, "We have already done these types of tests with great results here in the USA. However, the Chinese Government wants to see the CSRV® engines in operation for themselves. We are happy to oblige them. We will do our very best to expedite the process and deliver the test engine. I may go to China to oversee the testing operation and visit the location where the Coates mass production plant is to be located in China. This production facility could possibly create between 2,500 to 5,000 new quality jobs in that area."
- Producing the following:
- We are looking forward to our Company's expansion into China.
- By the end of the first full year of manufacturing operations the Company should begin to generate profits and positive cash flows.
- Sometime after that the Company should achieve overall positive retained earnings.
- This should enhance the Company value and Shareholders ownership in the Company.
- Once this is achieved the Company intends to apply for its stock to be registered on other exchanges in Europe.
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.
Contact Information:Coates International, Ltd.Phone: 732-449-7717Fax: 732-449-0764E-Mail: email@example.comTHE COATES OFFICIAL NEWS WEBSITEwww.coatesengine.com
SOURCE: Coates International, Ltd.