There were merger talks were with SWT, an industri
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Posted On: 02/12/2016 1:46:31 AM
There were merger talks were with SWT, an industrial engine and generator manufacturing company in China.*
*See posts on Coates website on April 1, 2011 - April 12, 2011 and June 2, 2001.
However, a Sep 30, 2011 PR announced the following:
"Based on the difficulty of working with the management of S.W.T., a heavy equipment manufacturer in China, with which the Company engaged in extensive negotiations over a period of more than a year, management has determined that the risk of proceeding to merge with S.W.T. is greater than anticipated. Accordingly, the Company will instead consider working out an alternate, simpler approach to enable it to have access to the manufacturing capabilities of S.W.T. while affording both companies the opportunity to benefit from CSRV system technology related manufacturing activities."
The Chinese government is very slow and difficult to work with. That is one reason why production in China has not begun.
*See posts on Coates website on April 1, 2011 - April 12, 2011 and June 2, 2001.
However, a Sep 30, 2011 PR announced the following:
"Based on the difficulty of working with the management of S.W.T., a heavy equipment manufacturer in China, with which the Company engaged in extensive negotiations over a period of more than a year, management has determined that the risk of proceeding to merge with S.W.T. is greater than anticipated. Accordingly, the Company will instead consider working out an alternate, simpler approach to enable it to have access to the manufacturing capabilities of S.W.T. while affording both companies the opportunity to benefit from CSRV system technology related manufacturing activities."
The Chinese government is very slow and difficult to work with. That is one reason why production in China has not begun.
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