AETI sells M&I Electric US operations to Myers Power Products for $17.3 million

American Electric Technologies (AETI) agreed to sell the U.S. assets of its M&I Electric Industries subsidiary to Myers Power Products for $17.3 million. The buyer will also assume approximately $12.8 million in liabilities.

“The purchase price for the assets will be $17.3 million resulting in cash proceeds at closing of approximately $13.9 million after working capital and other closing adjustments.”einpresswire.com

• 2 sources
• einpresswire.comUPDATE - AETI Announces Agreement to Sell M&I Electric US Operations to Myers Power ProductsAug 6, 2018
• mylers.cnMylers Power Products Announces Acquisition of M&I Electric Industries US Assets--迈尔斯（北京）电气设备技术有限公司Aug 17, 2018

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