Coates International Ltd (OTCMKTS:COTE) announces that its existing orders have been reconfirmed in 2015. As per the reports, the updated orders are worth $50.04 million.
The announcement was made public by Howard Barmil, Director, Coates International Ltd stating that Coates had crossed $50 million mark with just four firm orders. Barmil comes with a DBA and MBA degree and looks after international sales and marketing department of the company.
Insights on the Matter:
Among many other initiatives, the company is using 150 KW CSRV natural gas industrial electric power generators at its headquarter in New Jersey. As per the reports, Coates manufactures these power generators before putting them into use. The current market conditions suggest that the demand for CSRV stand-alone 35 KW propane gen sets and CSRV 150 KW natural gas generators has touched all new levels lately.
China is one of its favorite international sites to expand business due to its growing economy and excellent opportunities. Coates is making swift and consistant progress in China. The one thing that plays an important role in manufacturing procedure is skilled labor force. To get an edge over its rivals, the company has decided to enhance the number of skilled workers at its New Jersey plant.
The senior leadership team of the company is confident and hopes to touch newer heights soon. According to George J. Coates, CEO & President, both CSRV natural gas industrial generator sets and engines are doing perfectly fine at the moment. Demand for both these products continues to touch newer heights. Some of the orders of these two products that the company has received from UAE have increased as much as 100% in size over the last 12 months.
The management is planning to expand the reach by enhancing the number of skilled professionals at New Jersery plant in the near future and take things to another level.