M&I Electric announces $14M project with leading EPC firm
June 04 2018 - 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 $14M contract to provide a turnkey power
delivery solution for a fractionation plant expansion project in
Texas.
The company received the award from a leading Engineering,
Procurement and Construction (EPC) firm responsible for the design
and delivery of this project to expand fractionation capacity for
their midstream project customer.
The M&I turnkey power delivery solution award includes
M&I’s IntelliSafe™ medium voltage arc-resistant switchgear, low
voltage arc-resistant switchgear, low voltage and medium voltage
arc-resistant motor control centers, and medium voltage variable
frequency drives, all integrated into three large M&I Power
Distribution Centers (PDCs).
“This project award is one of the largest in the company’s
history and is further validation of our strategy to be a leading
provider of safe, intelligent arc-resistant switchgear and turnkey
Power Distribution Center solutions for the midstream and
downstream oil and gas markets”, said Charles Dauber, President and
Chief Executive Officer, AETI. “We look forward to another
successful project with this long time EPC customer for this
fractionation plant project.”
M&I expects delivery of this project in the second quarter
of 2019. 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 interest in a
joint venture located in Xian, China. 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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