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The order will consist of two 26 metric ton buoys, one 12.4 metric ton buoy, and several smaller buoys. All of the buoys will be rated for 3000 meters, making them the largest buoyancy modules ever constructed for that depth. Further, the buoys will be constructed with central steel hardware capable of a 200 metric ton pass through load. Two Deep Down subsidiaries will be involved in fulfilling this order; Deep Down in Channelview, Texas will fabricate the steel hardware and provide the assembly of the buoys, while Flotation Technologies, Inc., in Biddeford, Maine, will handle the manufacture of the buoys themselves, using its proprietary high-strength Flotec(TM) syntactic foams. "This joint effort is just the latest in a series of projects where we've strategically aligned the capabilities and expertise of two of our subsidiaries," said Deep Down, Inc. President and Chief Executive Officer Ronald E. Smith. "The synergies involved provide for a more efficient manufacturing process, which ultimately benefits our customers. We will continue to look for similar opportunities where Deep Down, Inc. can add value by offering collaborative solutions to better meet our customer's needs." About Deep Down, Inc. Deep Down, Inc. (OTC Bulletin Board: DPDW | Quote | Chart | News | PowerRating) is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down's proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and ROV tooling, as well as marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company's primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead. Deep Down provides these services through its three subsidiaries. More information about Deep Down is available at www.deepdowncorp.com, by contacting the Company at (281) 517-5000, or ir@deepdowninc.com. One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission. SOURCE Deep Down, Inc. http://www.deepdowninc.com For full details for DPDW click here.
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