M&I Electric announces $5M project with major EPC firm for new chemical plant
May 09 2017 - 9:00AM
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
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