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- Break-in win at top 5 largest Engineering, Procurement and Construction firms
- First award with $40B global chemical company owner
HOUSTON, May 09, 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 $5M contract to provide a turnkey power delivery solution for a new chemical plant under construction on the Texas Gulf Coast
This is M&I’s first turnkey solution project award with this large Engineering, Procurement and Construction (EPC) firm, who ranked in the top five largest Engineering News Record (ENR) Top 500 Design Firms with revenues of $10B.
The M&I turnkey power delivery system will supply safe, reliable power distribution for a new chemical plant under construction near Alvin, TX for a $40B global chemical company owner.
M&I’s turnkey power delivery solutions includes custom-designed medium and low voltage conventional switchgear, low voltage and medium voltage motor control centers, and communications equipment all integrated into multiple M&I Power Distribution Centers (PDCs).
“This is a very important order award for the company as it represents a break-in win for our company into another top 5 EPC firm,” said Charles Dauber, President and CEO, AETI. “We look forward to working with our new customer and the project owner to deliver our turnkey power delivery solution for this chemical plant project.”
M&I expects delivery of this project to occur in the late 2017. 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
