AETI Expands Primary Manufacturing Facility To Meet Increased Demand For Turnkey Power Delivery Solutions
Expansion to Drive Local Job Growth Next Three Years
Houston, TX (GLOBE NEWSWIRE) - American Electric Technologies, Inc. (Nasdaq:AETI), a leading provider of power delivery solutions for the global energy industry, announced today the expansion of its primary power delivery manufacturing plant in Beaumont, Texas. The expansion of the M&I Beaumont facility is designed to meet growing customer demand for the company's offerings and provide additional capacity to support the next phase of growth.
The expansion will increase manufacturing capacity of the M&I Beaumont plant by approximately 75 percent and add an additional 11,000 square feet of office space. The facility manufactures power delivery products for the oil and gas, power generation, and marine and industrial markets.
"The booming oil and gas industry has created higher demand for our turnkey power delivery solutions," said Charles Dauber, President and Chief Executive Officer, AETI. "By expanding our M&I Beaumont manufacturing plant, we will continue to provide high quality, quick cycle time power delivery products to our customers."
AETI also expects to provide additional full-time jobs to the local Beaumont area within the next three years including engineering, manufacturing and operations, project management, and supply chain positions.
"Today's announcement means more manufacturing jobs are on the way for Beaumont and the state of Texas," said Chris Boone, Beaumont's Director of Community Development. "We appreciate AETI's commitment to Beaumont as witnessed by the expansion of their facility which will create more opportunity for our community and strengthen the local economy."
American Electric Technologies, Inc. (AETI) is a leading provider of power delivery solutions to the global energy industry. AETI offers M&I Electric™ power distribution and control products, electrical services, and E&I Construction services, as well as American Access Technologies zone enclosures, and Omega Metals custom fabrication services. South Coast Electric Systems L.L.C., a subsidiary, services Gulf Coast marine and vessel customers.
AETI is headquartered in Houston and has global sales, support and manufacturing operations in Beaumont, Texas, Keystone Heights, Florida and Bay St. Louis, Mississippi. In addition, AETI has minority interests in three joint ventures in Xian, China, Singapore and Macae, Brazil. AETI's SEC filings, news and product/service information are available at www.aeti.com.
This press release contains forward-looking statements, as defined in Section 27A of the Securities Exchange Act of 1934, concerning anticipated future demand for our products, international expansion, and other future plans and objectives. While the Company believes that such forward-looking statements are based on reasonable assumptions, there can be no assurance that such future revenues, profits, plans and objectives will be achieved on the schedule or in the amounts indicated. Investors are cautioned that these forward-looking statements are not guarantees of future performance. Actual events or results may differ from the Company's expectations, and are subject to various risks and uncertainties, including those listed in Item 1A of the Form 10-K filed with the Securities and Exchange Commission on March 28, 2013. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future events make it clear that any of the projected results expressed or implied herein will not be realized.
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SOURCE: American Electric Technologies, Inc.