American Electric Technologies, Inc. (AETI) and Stabilis Energy have created a new small-scale liquefied natural gas (LNG) production and distribution company.
Stabilis, a supplier of LNG to the industrial, midstream, and oilfield sectors in North America, has merged into AETI, a provider of power delivery solutions, after the two Texas-based companies reached a definitive share exchange agreement.
The transaction includes both Stabilis Energy (LNG production) and Prometheus Energy (LNG distribution), with Stabilis and its subsidiaries to become wholly-owned subsidiaries of AETI.
Upon completion of the transaction, the combined company will be renamed “Stabilis Energy, Inc.” and will apply to continue trading on the NASDAQ Stock Market under the symbol SLNG.
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