RIO DE JANEIRO, Brazil, Aug. 27, 2012 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq:AETI), a leading global supplier of power delivery solutions for the energy industry, today announced that as part of its global energy growth strategy, its Brazil joint venture operation has acquired the assets of Assort Services LTDA ("Assort") of Rio De Janeiro, Brazil for an undisclosed amount.
Assort provides electrical technical services for the offshore oil & gas market including electrical system commissioning, preventative maintenance services, emergency electrical equipment services and power system upgrade services.
"Our growth strategy focuses on expansion in the key global energy markets such as Brazil. Part of our strategy is to add strategic capabilities through targeted acquisitions of respected companies like Assort Services," said Charles Dauber, chief executive officer, AETI. "Having Assort as part of AETI Brazil enables us to accelerate our customer service capabilities in the Brazilian Campos Basin and other deep water regions, and we look forward to having them on our team."As part of the acquisition, Assort President Antonio Carlos Martins will join AETI Brazil as General Manager, Services, reporting to Jose Octavio, General Manager of AETI Brazil. "Assort Services is the leading offshore electrical services company in Brazil and their technicians are known in the region for their technical skills and safety focus" said Jose Octavio. "With our combined service teams and recent acquisition of additional electrical test equipment, we can fully support the electrical service needs of Brazil's fast-growing offshore oil and gas market." AETI Alliance Group Brazil ("AETI Brazil") is a joint venture between American Electric Technologies, Inc. of Houston, Texas and 5 Star Services of Macae, Brazil. AETI Brazil provides the following power delivery solutions to the Brazilian oil & gas industry:
- AC VFDs and SCR systems, generator control switchgear, motor control centers, and power control buildings for offshore drilling platforms, semisubmersibles, drillships and land drilling rigs;
- Low voltage and medium voltage power and control solutions for offshore production systems including FPSOs;
- Full automation and control solutions;
- Electrical construction and rig-up services; and
- Electrical services including start-up/commissioning, electrical maintenance, emergency services, equipment retrofit and upgrade services, and spare parts.
CONTACT: Media Contacts: Ward Creative Communications for American Electric Technologies, Inc. Molly LeCronier 713-869-0707 firstname.lastname@example.org Investor Contacts: American Electric Technologies, Inc. Charles Dauber 713-644-8182 email@example.com
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