Flotation Technologies

Expansion of Physical Plant and Related Exterior Improvements Will Help Meet Growing Demand, Enhance Customer Service

BIDDEFORD, MAINE – June 10, 2009 – Flotation Technologies, Inc., a Deep Down, Inc. company (OTCBB: DPDW) and a global leader in deepwater buoyancy systems, today announced the completion of a significant expansion of its Biddeford facility, along with related exterior improvements, both designed to meet increased product demand while enhancing customer responsiveness.

The cornerstone of the facility expansion is a new enclosed shipping and receiving area which will provide space for tractor trailers to drop off up to three flatbeds for loading of drilling riser buoyancy modules and other related deepwater buoyancy products, using a new overhead crane system.  This expansion, with the other related improvements, will dramatically improve efficiency as well as the safety and functionality of the plant.                                  

“This expansion not only provides manufacturing efficiencies, but also stands as a testament to the continued strength of the company itself,” observed President David Capotosto.  “Over its 30 year history, Flotation Technologies has grown from an entrepreneurial start up to an industry leader with a global footprint and presence.  This growth has been achieved, and will continue in the future, by providing clients the right solutions to meet the various challenges they face in deep water environments around the world.”

“By providing employment opportunities, serving as good corporate citizens, and producing value-added products used around the world, Flotation Technologies serves as an outstanding example of the type of business enterprise we value,” said Maine Governor John Baldacci.  “I congratulate them on their success, and am confident that they’ll continue to serve as a beacon for other businesses in our state to follow.”  At a grand opening celebration marking the plant expansion and related facility improvements, Governor Baldacci was represented by Thaxter Trafton, Deputy Commissioner of the Maine Department of Economic and Community Development.    
 

About Flotation Technologies
Flotation Technologies, Inc., a wholly-owned subsidiary of Deep Down Inc., (OTCBB: DPDW), is a world leader in the engineering, design and manufacturing of deepwater buoyancy systems using high-strength Flotec™ syntactic foams and polyurethane elastomers. Focused on the offshore oil, oceanographic, seismic and government markets, Flotation Technologies delivers world-class buoyancy products for a host of marine applications such as: distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyancy modules, ROV buoyancy, QuickLoc™ cable floats, Hardball™ umbilical floats, FLOTECT™ cable and pipeline protection, Inflex™ polymer bend restrictors and installation buoyancy of any size and depth rating.  For more information, visit www.flotec.com. 
 
About Deep Down, Inc.
Deep Down, Inc. (OTCBB: DPDW), a publicly traded Nevada Corporation, provides, through its wholly owned subsidiary companies, services and technologies used in deepwater offshore exploration and production of oil and gas. Deep Down's customers are predominantly integrated, large independent, and foreign national oil and gas companies throughout the world.  For more information about Deep Down, please contact the company at (281) 862-2201 x250 or ir@deepdowninc.com. 

Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future  financial position, future revenues, acquisitions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. All of the information provided in this release is as of June 10, 2009 and Flotation Technologies undertakes no duty to update the information provided herein.

Search

• 
  Houston
• 
  Rio
• 
  Aberdeen
• 
  Singapore