Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Instagram Outage Disrupts Thousands of U.S. Users 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
HOUSTON, Nov. 17, 2016 -- American Electric Technologies, Inc. (NASDAQ:AETI), a leading provider of power delivery solutions for the global energy industry, announced today that its flagship subsidiary, M&I Electric, celebrated its 70th year of operations.
Founded in 1946 in Beaumont, Texas, M&I started as an electrical products and services company. Over the past 70 years, the company has developed into a leading provider of power delivery solutions to the global energy industry with 400 employees in multiple countries and thousands of customers around the world.
The company held a 70th year anniversary event with employees, customers and partners at its Beaumont Texas manufacturing plant, which was attended by local VIPs. Beaumont Mayor Becky Ames read a proclamation to the assembled guests recognizing this historic company milestone and support to the local economy.
“It’s amazing to think that from our humble beginnings in a Quonset hut in 1946 that today, we created IntellISafe™, the most technically advanced medium voltage arc-resistant switchgear on the market,” said James Steffek, Senior Vice-President and forty three year company employee who chronicled the company’s history at the event. “We really appreciate all of the employees who have helped get the company to this point and look forward to another successful 70 years in Beaumont.”
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 the U.S. and Brazil. In addition, AETI has minority interests in two joint ventures, which have facilities located in China and Singapore. AETI’s SEC filings, news and product/service information are available at www.aeti.com.
Contact: Bill Brod Sr. Vice President and Chief Financial Officer 713-644-8182
