AETI Announces New M&I Vessel Management System Designed to Enhance Marine Control and Management Operations
NEW ORLEANS, Dec. 5, 2012 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq: AETI), a leading global provider of power delivery solutions for the energy industry, announced today at the International Workboat Show in New Orleans the introduction of its new M&I Vessel Management System. Available now, the software and hardware system is designed to enable the offshore supply vessel, platform supply vessel and other marine markets to efficiently control and manage their operations based on proven technology acquired through AETI's recent acquisition of Amnor Technologies Inc.
In addition to incorporating vessel power and propulsion/thruster management, the M&I Vessel Management System also provides a wide range of monitoring and control functions including: machinery alarm management, cargo management, tank level monitoring, valve control, and ship system management capabilities.
The M&I Vessel Management System is an open architecture design and the network topology is based on industry standard Ethernet. Vessel owners/operators will realize reduced operational costs by utilizing the integrated power demand monitoring functionality.
"AETI's M&I Electric and South Coast Electric operating groups have built a cost-effective and technologically advanced power distribution system for global vessel operators," said Dale Reeder, vice president of marine marketing. "The combination of our generator control switchgear and propulsion drives, when integrated with our new Vessel Management System, will now enable us to provide enhanced electrical Single Source Vendor (SSV) capabilities to our customers."
For more information, stop by M&I Electric's booth (#2955) at the International Workboat Show or visit www.aeti.com.
American Electric Technologies, Inc. (Nasdaq: AETI) is a leading global provider of power delivery solutions to the 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 30, 2012. 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.