HOUSTON, Nov. 30, 2011 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq:AETI), a leading global provider of power delivery solutions for the traditional and renewable energy industries, today announced the appointment of Matt Walsh as the company's new Vice President, South America Business Development. This newly created role focuses on accelerating the company's market share in the Brazilian oil & gas and marine markets.
"The Brazilian oil & gas market opportunity, one of the largest, fastest growing energy markets in the world, was the driver for AETI to create our AETI Brazil operation with our partner Five Star services in 2010," said American Electric Technologies' CEO Charles Dauber. "The next phase of our growth is to welcome back Matt Walsh to the company, and have him accelerate our market share in Brazil and South America by relocating to Brazil and running our South American business development operations."
Matt Walsh rejoins the company after a short stint doing business development consulting for several Canadian drilling and power systems companies. Prior to that, Walsh spent 11 years at AETI's M&I Electric group, where he was responsible for North American land and offshore drilling, power generation and pipeline market segments. In his role, Walsh was responsible for customers such as Transocean Offshore; Saxon Energy Services, a Division of Schlumberger, Nabors International, Inc., and Williams Gas Pipeline. Walsh also helped AETI with their initial forays into Brazil.
Walsh has significant oil and gas power systems experience, including power distribution equipment such as low voltage and medium voltage switchgear, as well has Ross-Hill and Hill-Hayes Analog SCR drives and modern AC Variable Frequency Drives (VFDs).
Walsh has also held sales roles at companies such as US Sales, Innomation Inc., and Cordyne, Inc., and has been Service Manager at Cates Control Systems, Inc. Walsh received his BBA degree from University of Houston in 1989 with extensive Electrical and Mechanical engineering studies from Texas A&M University from 1979 through 1986.
"AETI products and services have a proven reputation in the global oil and gas and marine markets worldwide," said Walsh. "I look forward to building on AETI's track record for successful projects for so many of the largest and most respected drilling contractors in Brazil, and to driving AETI to the leading market share position in the Brazilian and South American marketplace."
Walsh will be responsible for building the company's market share for the company's complete portfolio of oil and gas power solutions, including:
- Jack-up and platform offshore drilling rig power systems
- Semi-submersible drilling rig power systems
- Drillship power systems
- Land drilling rig power systems
- Offshore production power systems including FPSO power systems
- PSV (Petroleum Supply Vessels) and OSV (Offshore Supply Vessels) power systems
- Other marine vessels segments (barges, river vessels, etc.) power systems
American Electric Technologies, Inc. (Nasdaq:AETI) is a leading 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, Texas, Keystone Heights, Fla. and Bay St. Louis, Miss. In addition, AETI has minority interests in three joint ventures which have facilities located in Xian, China, Macae, Brazil and Singapore. AETI's SEC filings, news and product/service information are available at 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.