WALL TOWNSHIP, N.J., June 6, 2012 /PRNewswire/ -- Coates International Ltd. (NASDAQ OTCBB: COTE) – Coates International Ltd. (the "Company") is planning to start up a large-scale Coates CSRV engine and generator manufacturing facility in Oklahoma with its wholly-owned subsidiary, Coates Oklahoma Engine Manufacturing Ltd. ("Coates Oklahoma").
The manufacturing facility has already been decided upon which consist of 1,415,000 square feet of manufacturing and office space on a 160 acre site which includes 30 acres of parking space and 34 acres of outdoor storage. An offer to purchase the entire facility in exchange for cash and company common stock has been accepted.
Oklahoma state and federal incentives have already offered to us of up to $787,526,057 with investment/new jobs tax credit package $779,158,557.An agreement is already in place with Cummins Power Systems to manufacture the industrial short blocks for our large scale production. These short blocks will consist of crankshaft, conrods, pistons, bell housing, flywheel, starter motor, engine, mounts, and water pumps. An agreement is in place with Marathon Electric to supply industrial electric generators for our production requirements. Coates Oklahoma Engine Manufacturing Ltd. will manufacture and assemble the CSRV systems to the short blocks and generators to complete the Coates CSRV Electric Power Engine generator production. Requirements from our customers of our industrial electric power natural gas CSRV generators and engines are as follows:
- 2012-2012 : 5,630
- 2013-2014 :11,145
- 2014-2015 : 11,220
- 2015-2016: 11,220
- 2016-2017: 11,220
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV