Aysec says it’s looking to invest in Flood Relief products
By Aysac M.A. MancusoAugust 18, 2018 | 03:15:23Flood relief and flood insurance are two of the most important issues facing families across Texas, with the amount of money available to help fund it often dwindling.
And while many companies are already offering relief, there is still plenty of work to be done.
In its most recent quarterly financial report, Aysech Energy, the parent company of the JCI Energy subsidiary, said it would invest $1.5 billion to help flood relief and other disaster relief efforts.
Ayserci Energy, meanwhile, said the company is looking to build its own flood relief infrastructure.
In a statement to Fortune, the Jci Energy subsidiary said it is “actively pursuing” funding to build a new facility to handle flood-related activities in the region.
And the company said that it would seek to build more than 50 miles of new flood-resistant structures to help cover the costs of providing relief to people and property in the floodplain.
“Flood-related infrastructure is important for us to continue to provide relief services and provide an infrastructure to support the needs of the community,” JCI said in the statement.
The JCI subsidiary’s flood relief investments come as companies like Ayseb and JCI have become increasingly reliant on one another for funding.
The two companies are among the largest U.S. suppliers of flood relief, and they have long been at odds over who will receive the flood-resistance funds.
While JCI’s flood-response efforts are often lauded for being well-coordinated and efficient, Aiesec’s efforts are generally seen as lackluster.
In its most recently quarterly financial reports, AIESec said that while the company had built a new office and added hundreds of flood-proof walls, it has yet to build the type of floodproof building needed to help protect homes from rising water.
And it said that the company has yet another flood-protected building under construction in Dallas.
For Aysem Energy, which was founded in 2006, the most recent quarter saw its stock price fall more than 6 percent.
That’s not good news for investors who have been looking for a strong investment in the company’s products, and that includes the Aysed products.
“The market has seen some bad news over the last few years for Aysek and we are now seeing that some of that bad news is coming to bear,” said Aysen Energy Chief Executive Officer David J. Aynesec.
The company has been a strong performer in recent years, posting a 10 percent gain in the first quarter of 2019.
Aiesen Energy has been looking to buy its rival, Ayerc Energy, for years.
Ayercb Energy, also based in Dallas, has struggled to compete with Aysevic Energy, a smaller Texas company.
Ayrc Energy’s shares have fallen nearly 13 percent since the company last reported its results.