American Electric Technologies, a leading supplier of power delivery
solutions for the global energy industry, announced the launch of
a new company subsidiary, M&I Electric Brazil.
M&I Electric provides a full range of turnkey power delivery solutions
including power distribution, power conversion, power
control/automation systems, and power construction and services for the
oil and gas and power generation sectors of the global energy
industries.
"The formation of M&I Electric Brazil fulfills our objective of
developing local capabilities in rapidly growing oil and gas markets
worldwide, with the goal to have majority or total ownership of those
international entities," said Charles Dauber, AETI president and CEO.
"We are bullish long term on Brazil and believe the country's natural
resources and large deepwater oil and gas reserves make it a critical
market for AETI in the future."
The wholly-owned Brazilian operation was formed following the company's
recent withdrawal from its previous minority-owned joint venture, AETI
Brazil.
Mr. Jose Octavio has been named General Manager of M&I Electric Brazil.
He has over 15 years experience in the electrical products and services
business in the Brazilian oil and gas markets including tenures with
both AETI Brazil and ABB.
M&I Electric Brazil will be headquartered in Macae, Brazil, with a
regional service center located in Rio de Janeiro.
