Scottsdale, Arizona 6/4/2008 9:05:06 AM
News / Finance

QualityStocks.net News – American Electric Technologies, Inc. (AETI) Officially Enters into Wind Power Sector

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We would like to highlight American Electric Technologies, Inc. (NASDAQ: AETI). The company reports financial data for three operating segments: the Technical Products and Services (TP&S) segment and the Electrical and Instrumentation Construction (E&I) segment, which together encompass the operations of M&I including its South Coast Electric Systems, LLC subsidiary and the American Access (AAT) segment, which encompasses the operations of American Access including its Omega Metals division.

 

In the Company’s recent news,

 

American Electric Technologies declared its entry into the emerging wind power market at this year’s American Wind Energy Association (AWEA) conference. In the past, the company has offered traditional electrical transmission, distribution and control services, but has now turned its focus toward an industry sector with greater potential for growth.

 

As an adjunct to this latest announcement, American Electric Tech. unfurled its intent to construct a new wind farm in Texas, one of the nation’s pioneering wind energy regions. Efficient electrical distribution has been a critical issue in the wind power arena, and American Electric hopes to apply its collective expertise in this area to the fledgling market.

 

“With our formal entry into the wind market, we are leveraging our power distribution and control technology, our 60 years of technical expertise, and our construction and services capabilities to enable the wind power industry to reach its maximum potential,” stated Charles Dauber, president of American Electric’s M&I Electric company.

 

To aid the company in its quest to create a strong wind energy program, the services of Mr. Gary Collins were retained. Collins, who was involved with both AEP and Enron wind farms, will be bringing to the table more than ten years of wind farm construction experience. American Electric believes that Mr. Collins’ extensive knowledge of the field will give them the added advantage needed to create a substantial wind energy footprint.

 

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Forward-Looking Statement:

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