TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
HOUSTON, Oct. 31, 2016 -- 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 selected to provide a turnkey power delivery solution for a new Liquefied Natural Gas (LNG) liquefaction plant under construction.
This new natural gas liquefaction facility plays an important role in providing mission critical fuel supplies during high-demand periods in New England, especially during peak usage months. Additionally, this installation gives the grid operator another domestic LNG source, further reducing the region’s reliance on oversea suppliers.
M&I Electric received the contract award from a leading engineering, procurement and construction (EPC) firm for this LNG plant. The M&I Electric turnkey solution includes custom-designed low and medium voltage power distribution switchgear and low and medium voltage motor control centers, all deployed within M&I’s custom-built, climate-controlled Power Distribution Centers (PDCs).
This project award represents M&I Electric’s second order from this major EPC firm, which selected M&I Electric due to the company’s ability to provide a high-quality, optimized, turnkey solution.
"We are very pleased to have been selected to provide power delivery systems to facilitate operations at this new LNG plant," said Charles Dauber, President and CEO, AETI. "This project exemplifies our mission of Empowering EnergyTM and we are encouraged that we have received repeat orders from our EPC customers for their critical projects.”
Terms of the contract 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; Rio de Janeiro and Macae, 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 Sr. Vice President & Chief Financial Officer 713-644-8182
