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Over the past three decades, Flotation Technologies has served as a world-leading buoyancy manufacturer to offshore oil, defense, seismic, and oceanographic customers in more than 40 countries around the globe. Flotation Technologies has invented or brought to market numerous proprietary products designed to meet the needs of its diverse customer base, including ADCP buoys, trawl resistant bottom mounts (TRBM), distributed buoyancy modules, bend restrictors, drilling riser buoyancy modules, and cable floats. Flotation Technologies has also been involved in developing products for unique applications ranging from movie production to space exploration. For example, in 1996, the company manufactured the ROV buoyancy used in filming James Cameron's Academy-award-winning movie "Titanic." Ten years later, in 2006, Flotation Technologies engineered and fabricated the buoyancy product used in NASA's "DepthX" project (an autonomous vehicle bound for one of Jupiter's moons).
"We're proud that Flotation Technologies is part of the Deep Down family," commented Ronald E. Smith, Deep Down, Inc.'s President and Chief Executive Officer. "This milestone stands as a testimony to the Company's commitment to its customers and the markets it serves. We look forward to continued growth and innovation from Flotation Technologies for many years to come."
About Deep Down, Inc.
Deep Down, Inc. (OTC BB: 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.
About Flotation Technologies, Inc.
Flotation Technologies, Inc. a subsidiary of Deep Down Inc. is a world leader in the engineering, design and manufacturing of deepwater buoyancy systems using high-strength Flotec(TM) syntactic foams and polyurethane elastomers.
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
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