UAE's Largest Natural Gas Facility Suspended After Attack-Triggered Fire 
SpaceX Eyes Historic IPO at $1.75 Trillion Valuation 
China Vanke Seeks Bond Extension Amid Mounting Debt Crisis 
Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B Deal 
First Western Ship Transits Strait of Hormuz Since Iran War Began 
Fonterra Admits Anchor Butter "Grass-Fed" Label Misled Consumers After Greenpeace Lawsuit 
RBC Capital: European Medtech Firms Show Minimal Middle East and Energy Risk Exposure 
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 
Elon Musk Ties SpaceX IPO Access to Mandatory Grok AI Subscriptions 
Samsung Electronics Eyes Record Q1 Profit Amid AI-Driven Chip Boom 
Private Credit Under Pressure: Is a Slow-Motion Crisis Unfolding? 
LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
UPS and Teamsters Reach Agreement to Limit Driver Severance Program 
OpenAI Executive Shake-Up Ahead of Anticipated 2026 IPO 
Apple Turns 50: From Garage Startup to AI Crossroads 
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
