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HOUSTON, July 25, 2017 -- American Electric Technologies, Inc. (NASDAQ:AETI), a leading provider of power delivery solutions for the global energy industry, announced today that its M&I Electric Brazil business has been awarded a 4M Brazilian Reais ($1.4M US) contract to provide specialized services for the modernization of a 138KV main substation for a large Brazilian mining conglomerate.
The company received the project award directly from one of the largest mining companies in the world and was a break-in win for M&I Electric Brazil. This substation is located in the state of Espírito Santo and feeds four iron ore pelletizing plants, which are a crucial phase in the steel manufacturing process. The project award includes the planning, site management, replacement and installation of circuit breakers and switches, and start-up/commissioning for the 138KV substation.
M&I also announced the opening of its newest Brazilian office in Belo Horizonte, Brazil. The Belo Horizonte office will support the growth of the company’s Industry and Energy services business and will be led by Marcelo Monteiro, M&I Brazil’s Director, Industry & Energy.
“We are very pleased with the progress that Marcelo Monteiro and his team are making with industrial and energy companies in Brazil,” said Jose Octavio, Vice President and General Manager, M&I Electric Brazil. “Our senior engineering team in our new Belo Horizonte office has significant experience in automation, control, power and drives system projects and is strategically located to be able to provide superior service to these important customers.”
About AETI:
American Electric Technologies, Inc. (NASDAQ:AETI) is a leading supplier of power delivery solutions for the global energy industry. AETI offers M&I Electric™ power distribution and control products, electrical services, and E&I construction services. AETI is headquartered in Houston and has global operations in Beaumont, Texas; and Rio de Janeiro, Macae and Belo Horizonte Brazil. In addition, AETI has minority interests in two joint ventures, which have facilities located in Xian, China and Singapore. AETI’s SEC filings, news and product/service information are available at www.aeti.com.
Contact: Bill Brod Chief Financial Officer 713-644-8182
