HOUSTON, Aug. 18, 2011 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq:AETI) today announced the departure of Frank Pierce, the company's Chief Financial Officer, who will be leaving the company to pursue other opportunities.
Mr. Pierce has been instrumental in assisting the company through its financial recovery over the past year, and will be available to the company through the end of August 2011 to support an orderly transition.
The company has retained Preng & Associates to lead its search for a new CFO.
American Electric Technologies, Inc. (Nasdaq:AETI) is a leading global supplier of power delivery solutions to the traditional and renewable energy industries. 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, TX, Keystone Heights, FL. and Bay St. Louis, MS. In addition, AETI has joint venture interests located in Xian, China; Macae, Brazil; and Singapore. AETI's SEC filings, news and product/service information are available at www.aeti.com" title="blocked::outbind://625/www.aeti.com">www.aeti.com.
Forward Looking Statements
Except for the historical and present factual information contained herein, the matters set forth in this document, including statements regarding the anticipated results of our international joint ventures are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There are many risks, uncertainties and other factors that can prevent the achievement of our goals or cause results to differ from those expressed or implied by these forward-looking statements including, without limitation, the risks inherent in doing business outside of the U.S. such as political, social and economic instability, currency fluctuations and conversion restrictions. These and other risks which may impact management's expectations are described in greater detail in filings made by the Company with the Securities and Exchange Commission. 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 anticipated results expressed or implied herein will not be realized.