Coates International, a Wall Township engineering company that develops fuel-efficient engines announced last week that it has signed a preliminary agreement with the Chinese government to establish large industrial engine and generator manufacturing plants there. The plan would involve a $1.5 billion investment.
According to the announcement, the company plans to manufacture many products such as large industrial engines for marine application, industrial electric power generators, home generators, heavy truck, and bus engines. The products would incorporate Coates' proprietary spherical rotary valve technology. Coates has many more products that will be produced in China. Several unnamed Chinese manufacturers are participating in the investment and will be involved in the production operations.
The company explicitly stated "there can be no assurance that the Company will be successful in any of the above endeavors."