SpaceX IPO: Retail Investors to Play Historic Role in Record-Breaking Public Offering 
BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
Bill Ackman Eyes New Fund to Bet Against Market Complacency 
Ford Issues Major Recall on Over 422,000 Vehicles Due to Windshield Wiper Defect 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
Chalco Stock Surges as Q1 2025 Profit Forecast Jumps Up to 58% 
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 
China Vanke Seeks Bond Extension Amid Mounting Debt Crisis 
Foreign Investors Pour $18.65 Billion into Japanese Stocks Amid Market Stabilization 
Samsung Electronics Posts Eightfold Profit Surge Driven by AI Chip Demand 
Anthropic Fights Pentagon Blacklisting in Dual Federal Court Battles 
UPS and Teamsters Reach Agreement to Limit Driver Severance Program 
LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
HOUSTON, Sept. 19, 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 business has been awarded a $3M contract to provide a turnkey power delivery solution for a terminal upgrade project in West Texas.
This project award continues an emerging trend for midstream owners and operations to deploy M&I’s award-winning IntelliSafe™ arc-resistant switchgear for their pipeline and terminal projects with an emphasis on safety.
The M&I turnkey power delivery system will supply safe, reliable power distribution for a crude oil terminal. The M&I Electric’s turnkey power delivery solution includes IntelliSafe™ medium voltage arc resistant switchgear, low voltage and medium voltage motor control centers, and installation and integration of 3rd party variable frequency drives, all integrated into M&I Power Distribution Centers (PDCs). Additional site electrical work and services will also be provided by M&I Electric’s power services and field construction teams.
“This is a strategic win with one of our largest midstream customers over the last several years. This turnkey project exemplifies our capabilities as a fully integrated provider of power delivery equipment, field services and I&E construction”, said Troy Coker, Vice President, Sales at M&I. “This large midstream customer and others like them continue to realize the benefits of working with our team to provide fully integrated power delivery solutions to meet project schedules and reduce project risk.”
M&I expects delivery of this project and site services to be complete in early 2018. Additional details were not disclosed.
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
