Coates International, Ltd. Is In Discussions With Four Different US States To Establish Its Manufacturing Operations. Management Visited One Of These States Last Week And Inspected Four Industrial Plants That Are Available. - ToledoNewsNow.com: News, Weather & Sports for Toledo, OH
Coates International, Ltd. Is In Discussions With Four Different US States To Establish Its Manufacturing Operations. Management Visited One Of These States Last Week And Inspected Four Industrial Plants That Are Available.
Information contained on this page is provided by companies via press release distributed through PR Newswire, an independent third-party content provider. PR Newswire, WorldNow and this Station make no warranties or representations in connection therewith.
SOURCE Coates International, Ltd.
WALL TOWNSHIP, N.J., Feb. 26, 2013 /PRNewswire/ -- Coates International, Ltd. (NASDAQ OTCBB: COTE) -- Coates International, Ltd. (the "Company") is currently working with four different states and has received offers of business and tax incentive packages designed to induce the Company to establish manufacturing operations in their state. Management is studying these incentives and visited one of these states last week to inspect production plants to assess their suitability for establishing the Company's manufacturing operations.
Management comments, "This is a major step for the Company and is vitally important that the decision be the right one. Factors being considered include production capacity, quality of, and improvements on, the manufacturing property site, logistics for distributing our products by rail, road, air and water, quality of local labor pool, expected value of the business and tax incentives being offered and access to, and location of, quality suppliers, among other things. The Company plans to initially invest $100 million and could invest up to $300 million during the first three years of operations into this project. We plan to reinvest cash flows from operations to expand manufacturing capacity over the first five years of operations. Our business plan estimates the creation of up to 825 new quality jobs during the first three years of operations."
The Company has targeted distribution of its CSRV products to include the United States, Canada, and the rest of the Western Hemisphere. Management believes that these products will reduce the production of harmful emissions into our atmosphere, improve fuel efficiency, contribute to boosting the economy and serve the best interests of our company and shareholders.
There can be no assurance that we can be successful in establishing large scale production in accordance with the business plans outlined above in this press release.
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.
Tuesday, April 30 2013 10:26 AM EDT2013-04-30 14:26:26 GMT
Everyone winterized their car. However, when spring comes around, many people do not know how to prep their car for warmer weather. Brian Barth from Smyth Auto stopped by FOX19 on Tuesday morning withMore >>
Smyth Autho gives six helpful tips to prep your car for spring.More >>
Thursday, March 1 2012 11:40 AM EST2012-03-01 16:40:47 GMT
According to Chrysler Group LLC, the Jeep brand has posted its best February sales since 2008, with an increase of 40 percent compared to February 2011. All of the models have increased more than 20 percent.More >>
With millions of cars sold around the world each year, 24/7 Wall St., a financial news and opinion group, compiled a list of the 10 best selling cars of all time. Included are cars new and old from across the globe. More >>
With millions of cars sold around the world each year, 24/7 Wall St., a financial news and opinion group, compiled a list of the 10 best selling cars of all time. Included are cars new and old from across the globe.More >>
Tuesday, May 24 2011 2:52 PM EDT2011-05-24 19:52:01 GMT
With a few computer keystrokes in an office at its headquarters, Chrysler Group LLC sent $7.6 billion to the U.S. and Canadian governments on Tuesday, paying off most of the bailout money that saved the company from financial disaster just two years ago.More >>
Friday, February 25 2011 11:46 AM EST2011-02-25 16:46:46 GMT
Cooper Tire & Rubber Co. said Friday its fourth-quarter profit rose 2.6 percent as stronger demand for its products helped offset rapidly rising raw materials costs. The company is also raising tire prices next month for the second time this year and plans to boost production.More >>