US-China Venture to Develop and Manufacture Small Engines, Consumer
and Industrial Equipment
Rotoblock Inc. (OTCBB:ROTB) has agreed to acquire controlling interest
in Hikom Gottell Corporation for US $25 Million (US $25,000,000). The
US-China venture intends to develop and manufacture small engines,
air-conditioning systems and other consumer and industrial equipment.
Rotoblock signed a term sheet to acquire 51 percent majority interest in
Hikom Gottell Corporation, a manufacturing company based in Nanjing City
of the Jiangsu Province in Mainland China. Hikom Gottell employs about
250 workers primarily involved in designing and manufacturing of
commercial air-conditioning systems for automotive, building, and
environmental applications. These products are distributed throughout
China. Rotoblock's offer of US $25 Million would be in cash and stock
options. The final purchase price is subject to an independent audit,
which will be carried out during the acquisition proceedings.
Rotoblock has agreed to purchase the hard assets of Hikom Gottell's
manufacturing facilities in Nanjing as well as the name Hikom Gottell
and its distribution network. The acquisition would include Hikom
Gottell's 10-acre manufacturing complex, land, factories, manufacturing
equipment, testing facilities, and delivery trucks.
"This opens a whole new horizon for Rotoblock's business plans," said
CEO Mr. Chin Chih Liu. "Not only would we have a research and
manufacturing facility in China, we will also have the financial backing
to take the Company to new heights. At the same time, Rotoblock can help
diversify the product lines being manufactured by Hikom Gottell and
expand their market internationally."
About Rotoblock Corporation -- Rotoblock is focused on the development
and manufacturing of small engines and other energy-efficient and
environmental equipment in China for distribution worldwide. The Company
was incorporated in Nevada and is headquartered in Santa Rosa,
California. Rotoblock has full rights to the patents of the Oscillating
Piston Engine and believes the OPE technology has useful applications in
an endless number of areas where its powerful, lightweight, efficient
design are in ever-increasing demand. Visit Rotoblock's corporate
website for details about the company, technology, and regulatory
filings. The address is: http://www.rotoblock.com.
Safe Harbour For Forward-Looking Statements
Except for statements of historical fact, the information presented
herein constitutes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
of the company to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Such factors include general economic and business
conditions, the ability to acquire and develop specific projects, the
ability to fund operations and changes in consumer and business
consumption habits and other factors over which Rotoblock Corporation
has little or no control.
Rotoblock Corporation
Tony R. Collins, 877-511-0110 (Toll Free)
