Coates International, Ltd. Ramp-Up of Production in the United States of America; The Company Has a $10,000,000 USD Equity Line of Credit in Place That It Plans to Utilize Along With Incoming Licensing Fees for Its Production Operations
(firmenpresse) - WALL TOWNSHIP, NJ -- (Marketwired) -- 01/21/15 -- (OTCQB: COTE) is pleased to announce that due to a renewed worldwide interest in our patented and green technology, we are ramping up production operations in our plant in Wall Township, New Jersey. This production ramp-up is principally due to a $10,000,000 USD equity line of credit which is in place, plus incoming licensing fees which were negotiated late last year by the Company. With the licensing fees, the Company plans for an immediate ramp-up of the production of its Industrial CSRV Electric Power Natural Gas Engine Generator Sets.
Coates International, Ltd. President and CEO, Mr. George J. Coates, comments, "The Company must get into full production immediately to realize the full potential of the Chinese production operations of our own CSRV products. We have many component manufacturers in the USA making parts for our production assembly line, which is situated in our existing plant in New Jersey and has been adjusted to manufacture Industrial CSRV Natural Gas Gen-Sets. Manufacturing of these components will be shared between our New Jersey facility and Coates Power Inc., Ltd. in China.
"Coates Hi-Tech Engines, Ltd. is our manufacturing arm and a majority owned subsidiary of Coates International, Ltd."
"As this expansion takes place, we will look for a production plant that may be suitable for the expansion of our production in the USA. Every effort is being made to get production up to speed."
Photos of the start-up assembly line in our existing headquarters plant will be posted on our website in the near future.
Individuals sending e-mail requests to the Company are asked to supply their full name and address in order to elicit a response.
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 .
Coates International, Ltd.
Phone: 732-449-7717
Fax: 732-449-0764
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Datum: 21.01.2015 - 06:00 Uhr
Sprache: Deutsch
News-ID 1331581
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