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AETI Story
American Electric Technologies, Inc. (AETI) has been a leading provider of electrical products and services to the Gulf Coast marine and industrial markets for over 60 years. Initially founded in Beaumont and known as M&I Electric, AETI is headquartered in Houston and has global sales, support and manufacturing operations in Texas, Florida and Mississippi. In addition, AETI has interests in two joint ventures in Singapore and Xian, China. The company has a worldwide customer base with total global revenues of over $100M per year. American Electric Technologies is a publicly listed company on the NASDAQ stock exchange, and its ticker symbol is AETI.
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, LLC, a subsidiary, provides products and services to Heavy Industry.
Our mission is to be the premium global supplier of power delivery solutions to the traditional and alternative energy industries. Our customers include traditional oil and gas companies, including off-shore and land drilling, production operators, marine vessels, pipelines, and refineries. We also serve traditional power generation, transmission, co-generation and alternative energy markets, including wind, geothermal, biomass and solar.
Our core competencies begin with our ability to apply proven, reliable electrical technologies to overcome complex power engineering challenges. Our power delivery experts will design and implement the most optimal solution for our customers’ complex requirements. Our electrical engineers and project managers also recognize and help our customers navigate through the pressures involved with complex projects such as limited internal resources, quick response/turn-around projects, dealing with changing/evolving requirements, and managing multi-vendor equipment.
We specialize in helping our customers by providing global turn-key projects with 24 hour service/support, delivering total system responsibility.
American Electric Technologies, Inc. Timeline of Innovation
1946 - Founded as M&I Electric Industries, Inc. in Beaumont, Texas, American Electric Technologies, Inc. (AETI) has provided electrical products and services to the Gulf Coast marine and industrial markets for over 60 years. The company has established a reputation as the leading provider of highly reliable and innovative power distribution and control equipment for critical oil and gas drilling and production customers.
1984 - The current executive officers acquired the company and two years later opened the Houston manufacturing facility.
1994 - Announced the formation of its first international operation by forming a joint venture with Oakwell Industries of Singapore, distributor of engineering products, to focus on offshore and marine applications in Singapore and the Southeast Asia market called M&I Electric Far East PTE Ltd.
1995 - Augmented traditional switchgear product lines and introduced their first digital DC drive product.
2002 - Announced a new digital AC drive product optimized for drilling applications.
2003 - Acquired the assets of Contec Electric and formed South Coast Electric in Bay St. Louis, Mississippi, to service the marine and vessel customers in the Louisiana, Mississippi and Alabama markets.
2004 - Expanded drive technology product portfolio by acquiring the assets of Hill Hayes, a leading DC drive manufacturer.
2006 - Introduced liquid-cooled high horsepower AC variable frequency drive, optimized for space-constrained marine markets. Also, AETI took the next step in its international expansion plans with the announcement of a joint venture with Bomco, the leading Chinese oil rig manufacturer, to form BOMAY to focus on manufacturing, sales and service for the fast-growing China oil and gas markets, and to provide sourcing capabilities for international projects.
May 16, 2007 - American Access Technologies, Inc. (NASDAQ: AATK) and M&I Electric Industries, Inc. announced the completion of their previously announced merger. The newly-combined company will operate as American Electric Technologies, Inc. and began trading on this day on the NASDAQ Capital Market under the symbol “AETI.”
September 21, 2009 - Charles M. Dauber appointed Chief Executive Officer and Arthur G. Dauber named Chairman, signalling the transition of the management team for the next phase of the strategic growth plan.