Flotation Technologies

THREE DECADES OF ENGINEERING INNOVATION AND CUSTOMER RESPONSIVENESS
MARK INDUSTRY LEADER’S MILESTONE EVENT

BIDDEFORD, MAINE – October 21, 2009 – Flotation Technologies, Inc., a Deep Down Inc. company (OTCBB: DPDW) today marked its 30th anniversary as a global leader in the design, engineering, and manufacture of deepwater buoyancy systems.

In 1979, engineer and entrepreneur David Cook took his 15-plus years’ experience of developing innovative products using syntactic foam and polyurethane elastomer products and started Flotation Technologies in the barn attached to his Biddeford, Maine home (where he and his wife still live). Since then, the company has steadily grown serving oceanographic, offshore oil, defense, and seismic customers in more then 40 countries, around the world.

Today, Flotation Technologies is still headquartered in Biddeford, in a 50,000-square-foot state-of-the-art engineering, research, and manufacturing facility employing more then 80 employees. Its quality management system is registered to ISO 9001:2008 for the design, development, and manufacture of syntactic foam and polyurethane elastomer products. Further, the company has received the prestigious Manufacturing Extension Partnership’s (MEP) Manufacturing Excellence Award that recognizes the achievement of world-class manufacturing status. These and other accomplishments led to Flotation Technologies being named the 27th fastest growing manufacturing company in the country in 2008 by Inc. Magazine.

Over the past three decades, the company 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. In 1996, for instance, the company manufactured the ROV buoyancy which Director James Cameron used in filming the Academy-award winning movie “Titanic.” Ten years later, in 2006, Flotation Technologies engineered and fabricated the buoyancy product used for the DepthX Project (an autonomous vehicle bound for one of Jupiter’s moons).

“Over its 30 year history, Flotation Technologies has grown from an entrepreneurial start-up to an industry leader with a global footprint and presence,” observed President David Capotosto. “The company has come of age and reached this milestone of success by doing what it has always done; providing customers the right solutions to meet the various challenges they face in deep water environments around the world. That bedrock commitment to engineering and manufacturing high-quality, cost-effective products will continue unchanged into the future.”

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 orir@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 October 21, 2009 and Flotation Technologies undertakes no duty to update the information provided herein.

Search

• 
  Houston
• 
  Rio
• 
  Aberdeen
• 
  Singapore