HOUSTON, March 10, 2014 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq: AETI ), a leading supplier of power delivery solutions for the global energy industry, today announced that it has relocated its corporate headquarters to 1250 Wood Branch Park Drive, Suite 600, Houston, TX, 77079.
AETI recently reported record 4 th quarter revenues and more than 20 percent revenue growth for 2013. To support the company's growth, AETI is leasing approximately 13,000 sq. ft. on the 6th floor of the office building. The new facility places the company in the heart of The Energy Corridor allowing for closer proximity to AETI's oil and gas customers.
"Our decision to relocate AETI's corporate headquarters is a strategic, yet natural move for the company," said Charles Dauber, President and Chief Executive Officer, AETI. "Moving to The Energy Corridor provides direct access to our oil and gas customers and gets us closer to Houston's deep pool of accessible engineering talent enabling us to continue to grow."
The company also expects to add additional jobs at the Wood Branch Park Drive location over the next several years including engineering, sales, and administrative positions.
"The Energy Corridor is home to 300 multinational companies plus 45 percent of Houston's engineers live within a half-hour of The Energy Corridor," said Clark Martinson, General Manager for The Energy Corridor District, which works to enhance the area's mobility, public safety, business development and quality of life. "We welcome AETI to the Gulf Coast's most vibrant center for the energy industry. The Energy Corridor is where energy moves."
American Electric Technologies, Inc. (Nasdaq: AETI ) is a leading provider 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, 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, Fla. and Bay St. Louis, Miss. In addition, AETI has minority interests in three joint ventures, which have facilities located 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 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.
Investor Contact: American Electric Technologies, Inc. Andrew L. Puhala 713-644-8182 Media Contact: Molly LeCronier Ward 713.869.0707
