Coates International, Ltd. Stockholders Update
WALL TOWNSHIP, N.J., Jan. 25, 2012 /PRNewswire/ -- Coates International, Ltd. (OTCBB: COTE) (the "Company") is pleased to announce that after a number of weeks of analysis, management has determined that it has solved the problem of cracks appearing in some of the lower heads of the 14 liter CSRV (Coates Spherical Rotary Valve) Industrial engine.
Studies were made of the expansion and contraction of these parts under a wide range of temperatures. It was found that the co-efficiency of head expansion was extremely excessive, and after heating up to operating temperature and cooling down numerous times creating metal fatigue causing cracks to appear in specific parts of some of the tower head castings.
- The new heads were stress relieved.
- Extra bolts were placed in strategic positions in the heads
- Further testing will resume next week
- When production ramps up the lower head castings will be made of cast steel alloy and not cast iron.
- Management is working diligently with Financiers to acquire funding to accelerate production of our products.
- Mr. John I. Blair, IV PE is in Oklahoma working on raising capital for Coates Oklahoma Engine Manufacturing Ltd. which is a new subsidiary of Coates International, Ltd.
About Coates International, Ltd.: Coates has been developing over a period of more than 15 years a patented spherical rotary valve CSRV Internal Combustion Engine invented by George J. Coates and his son Gregory. Our public filings with the SEC may be viewed and printed on the website maintained by the SEC at http://www.sec.govContact Information: Coates International Ltd. Phone: 732-449-7717 Fax: 732-449-0764 E-Mail: firstname.lastname@example.org www.coatesengine.com www.mostadvancedengine.com SOURCE Coates International, Ltd.
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