HOUSTON, Oct. 14, 2013 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq: AETI ) a leading provider of power delivery solutions for the global energy industry, announced today that it has been selected by White Cliffs Pipeline to supply power distribution packages for three pumping stations for its 12" pipeline expansion from Colorado's Denver-Julesburg (DJ) Basin to Cushing, Oklahoma. The terms of the contract were not disclosed, but AETI expects to ship the three systems in the first quarter of 2014.
White Cliffs Pipeline® is a 527-mile, 12-inch diameter crude oil pipeline that directly moves crude oil out of the DJ Basin to the Cushing termination point. The pipeline is expanding with the construction of a new 12-inch diameter pipeline looping the existing system. The expansion is expected to be complete in the first half of 2014.
"The demand for crude oil is not waning and White Cliffs Pipeline is poised to meet current and future demand with this pipeline expansion," said Tommy Holden, Project Manager, White Cliffs Pipeline. "AETI's ability to meet our tight deadline requirements and supply turnkey power delivery systems were critical determinants in White Cliffs Pipeline's decision to partner with the company to enhance our product delivery strategy."
AETI will provide White Cliffs Pipeline with three turnkey power distribution packages that include medium voltage switchgear, customer furnished medium voltage variable frequency drives, motor control centers (MCCs) and a central power distribution center.
"AETI is very pleased to have been selected by White Cliffs Pipeline to supply power delivery solutions for their pipeline expansion initiative. We look forward to partnering with them to ensure midstream market success now and in the future," said Charles Dauber, President and CEO, AETI.
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 .
Forward-Looking Statements
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.
Media Contact: Ward Creative Communications for American Electric Technologies, Inc. Molly LeCronier or Roxanna Salas or 713-869-0707 Investor Contact: Andrew L. Puhala American Electric Technologies, Inc. 713-644-8182
