Deep Down Inc. - Aktie des Tages!!
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Deep Down get orders for subsea deployment baskets
2008.09.10 - Contracts
Deep Down today announced orders for its patent pending SDB (Subsea Deployment Basket) systems totaling $1,000,000. These systems will be used to install hydraulic steel tube flying leads offshore West Africa and to install flexible pipe gas lift jumpers offshore Brazil. These systems are expected to be delivered in October of this year.
Deep Down's patent pending SDB System utilizes a unique mudmat and cartridge layout that allows for installation of hydraulic flying leads, electric flying leads, gas lift jumpers and other subsea equipment from the seabed, thereby eliminating the need for expensive, surface-based installation equipment. The SDB System is particularly attractive for installations in remote locations where vessel availability may be limited or in cases where there are multiple flying leads or jumpers to install.
Photo://Deep Down Inc.
Senator's Visit Focuses On Company’s Rapid Growth and Expansion
BIDDEFORD, Maine - Sept. 11, 2008 - Flotation Technologies, Inc., a Deep Down Inc. company (OTCBB: DPDW) and a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer products, today announced that United States Senator Susan Collins toured its manufacturing facility and met with the management team. The Senator congratulated the company on being one of the fastest growing companies in Maine with its dramatic growth over the past few years including a new manufacturing facility and hiring first-rate employees.
"Offshore drilling, oceanographic exploration and global warming research are important topics in the world today and I am excited to see that one of the key industry players is located right here in Maine," said Senator Collins. "Since receiving the prestigious Manufacturing Extension Partnership's (MEP) Manufacturing Excellence Award in 2007, Flotation Technologies has proven its superior manufacturing practices and dedication to continuous improvement. Maine is fortunate to have a company of this caliber with direct ties to these pivotal issues."
"We are honored that Senator Collins took the time to visit Flotation Technologies. The Senator was well received by the management team and employees who provided her with a brief overview of our company," explained David Capotosto, president, Flotation Technologies. "Recognized as one of the fastest growing companies in both Maine and the industries the company serves, Flotation Technologies has received increased market interest over the past few years due to it being one of the only U.S.-based manufacturers of the products it produces and its ability to address the growing needs within these market segments."
Senator Collins' visit was part of a bus tour during which she visited two other Maine-based businesses in the Biddeford Industrial Park. For more information on U.S. Senator Susan Collins, please visit susancollins.com.
Photography is available, please contact Stephanie O'Brien.
About Flotation Technologies, Inc.
Flotation Technologies, Inc., based in Biddeford, Maine, and 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 flotec.com.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys. For more information, visit deepdowninc.com, electrowaveusa.com and makotechnologies.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 September 11, 2008 and Flotation Technologies, Inc. undertakes no duty to update the information provided herein.
Business Wire "US Press Releases "
BIDDEFORD, Maine--(BUSINESS WIRE)--
Flotation Technologies, Inc., a Deep Down Inc. company (OTCBB:
DPDW) and a world leader in the engineering, design and manufacturing
of deepwater buoyancy and polyurethane elastomer products, today
announced the company has been named the 27th fastest growing,
privately owned manufacturing company in the United States by Inc.
magazine. Overall, Flotation Technologies ranked No. 1,006 on the
prestigious Inc. 5000 list. These rankings recognize the substantial
growth the company has experienced over the past three years,
including the doubling of its revenue from 2006 to 2007.
"Being recognized by Inc. magazine for our growth is an honor
shared by the management and employees of Flotation Technologies and
speaks to our drive and the dedication to the customers and markets we
serve," stated David Capotosto, president, Flotation Technologies.
"This abiding commitment, fully supported by our new parent company,
Deep Down, has and will continue to fuel Flotation Technologies'
aggressive growth."
"The growth Flotation Technologies has experienced since 2004 is
unparalleled," stated Robert Chamberlain, Jr., chairman and director,
Deep Down, Inc. "It is this growth coupled with Flotation
Technologies' expertise in the engineering, design and manufacture of
subsea products that drew Deep Down to acquire the company in June of
2008. We are extremely proud of Flotation Technologies for receiving
this prominent recognition and look forward to the tremendous future
of the company."
The Inc. list is a comprehensive look at the most important
segment of the economy--America's independent-minded entrepreneurs.
Taken as a whole, these companies represent the backbone of the U.S.
economy. The 5,000 companies that made the list reported aggregate
revenue of $185 billion and median three-year growth of 147 percent.
More important, the 2008 Inc. 5000 companies were engines of job
growth, having created more than 826,033 jobs since these companies
were founded. The 2008 Inc. 5000 list measures revenue growth from
2004 through 2007. Flotation Technologies' revenue in 2004 was
$2,873,686 and $13,410,002 in 2007. To qualify, companies must be
U.S.-based and privately held, independent--not subsidiaries or
divisions of other companies--as of December 31, 2007, and have had at
least $200,000 in revenue in 2004, and $2 million in 2007.
About Inc.com
Inc.com, the daily resource for entrepreneurs, delivers how-to
guides, advice, tools, breaking news, and rich multi-media to help
business owners and CEOs start, run, and grow their businesses.
Inc.com offers dynamic marketing solutions to help advertisers
effectively reach Inc.com's audience of business leaders. Visit
inc.com.
Each year, Inc. magazine and Inc.com celebrate the remarkable
achievements of today's entrepreneurial superstars -- the privately
held small businesses that drive our economy. The Inc. 500pipeInc.
5000 Conference brings together members of the Inc. 5000
community--both a new class of Inc. 5000 honorees and the list's
alumni--for three days of powerful networking, inspired learning, and
momentous celebration. For the first time ever, this powerful
networking event is open to all. Please join us September 18-20, 2008
at the Gaylord National Resort and Convention Center in Washington,
D.C. For more information or to register, visit Inc5000Conference.com
or call 877-211-0489 .
About Flotation Technologies, Inc.
Flotation Technologies, Inc., based in Biddeford, Maine, and 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(TM) 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(TM) cable floats,
Hardball(TM) umbilical floats, FLOTECT(TM) cable and pipeline
protection, Inflex(TM) polymer bend restrictors and installation
buoyancy of any size and depth rating. For more information, visit
flotec.com.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions,
installation management, engineering services, support services,
custom fabrication and storage management services for the offshore
subsea control, umbilical, and pipeline industries. The company
fabricates component parts of subsea distribution systems and
assemblies that specialize in the development of subsea fields and tie
backs. These items include umbilicals, flow lines, distribution
systems, pipeline terminations, controls, winches, and launch and
retrieval systems, among others. Deep Down provides these services
from the initial field conception phase, through manufacturing, site
integration testing, installation, topside connections, and the final
commissioning of a project.
The Company's ElectroWave subsidiary offers products and services
in the fields of electronic monitoring and control systems for the
energy, military, and commercial business sectors. ElectroWave
designs, manufactures, installs, and commissions integrated PLC and
SCADA based instrumentation and control systems, including ballast
control and monitoring, drilling instrumentation, vessel management
systems, marine advisory systems, machinery plant control and
monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore
petroleum and marine industries with technical support services, and
products vital to offshore petroleum production, through rentals of
its remotely operated vehicles (ROV), topside and subsea equipment,
and diving support systems used in diving operations, maintenance and
repair operations, offshore construction, and environmental/marine
surveys. For more information, visit deepdowninc.com,
electrowaveusa.com and makotechnologies.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 September 15, 2008 and
Flotation Technologies, Inc. undertakes no duty to update the
information provided herein.
http://www.inc.com/inc5000/2008/company-profile.html?id=200810060
No. 1,006 Flotation Technologies Biddeford, ME
Year 2008
Industry Manufacturing
Founded 1979
Growth 366.6%
2004 Revenue $2.9 million
2007 Revenue $13.4 million
Employees 80
Website www.flotec.com
What it does:
Engineers, design and manufactures deep-water buoyancy devices that serve the offshore oil drilling industry, the government, and oceanographic and seismic companies.
Why it's growing:
Contracts within the lucrative oil industry have helped Flotation keep growing. So, too, did the creation of their buoyancy module that has sold extremely well to offshore drilling contractors.
What's noteworthy:
The company's founder was David Cook. His son, Tim, rose to become the company's president.
* Ranked No. 27 in the Top 100 Manufacturing Companies
In reply to: None Post # of 16011
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Video: Interview with Steve Jackson, Electrowave USA
The American Superyacht Forum 2008
Featured under "best of SynfoTV"
http://www.synfo.com/synfotv/synfotv.asp?video=1201
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HOUSTON, Oct 13, 2008 /PRNewswire-FirstCall via COMTEX/ -- Deep Down, Inc. (DPDW) today announced that its wholly-owned subsidiary, Mako Technologies, LLC ("Mako") is expanding its fleet of Remotely Operated Vehicles ("ROVs"). Mako recently took delivery of its fifth ROV, a Seaeye FALCON, and has placed an order to purchase a Sub-Atlantic SUPER MOHAWK for delivery in the fourth quarter.
The Super Mohawk can carry out many of the tasks currently being performed by heavy, work-class vehicles. The rigid open-frame design provides an abundance of space and the generous payload capability provides a versatile solution for the installation of manipulators, sensors, and additional equipment.
"Presently, our entire ROV fleet, including our newly acquired FALCON, are offshore working," stated Bryce Merrill, Mako's Director of Subsea Services. "With the damage associated with Hurricanes Gustav and Ike, demand for ROV services has been extremely high. We have our two LYNX ROVs demobilizing from a successful project in Trinidad and as soon as they get back to our base and inspected, they will immediately be deployed into the Gulf of Mexico to help our clients assess the extent of the damage to the offshore infrastructure.
"The utilization rate for our offshore equipment, including ROVs, is at the highest levels since Hurricanes Katrina and Rita. The latest MMS damage assessment report indicates that the number of platforms destroyed by the 2008 Hurricanes is at 49, which is more than were destroyed by Hurricane Katrina," Merrill concluded. "The expansion of Mako's fleet of ROVs supports our strategy to continue to invest in growing the capabilities of all our companies to meet the demands of the market. These investments will enhance the financial performance of the company and bring value to our shareholders," said Robert E. Chamberlain, Jr., Deep Down's chairman and chief acquisition officer.
Flotation Technologies Brings on New Talent in Research & Development
BIDDEFORD, MAINE - October 16, 2008 - Flotation Technologies, Inc., a Deep Down Inc. company (OTCBB: DPDW) and a global leader in deepwater buoyancy systems, today announced the hire of Mr. Thomas Kircher for the position of R&D Engineer. In this role, Mr. Kircher will lead the material science efforts at Flotation Technologies and will have responsibility for development of new buoyancy and elastomeric materials.
"I'm very pleased to have Tom join the engineering team," commented Peter Russell, Engineering Manager of Flotation Technologies. "Tom's extensive experience in testing and materials development will bolster the R&D staff's capabilities in material science as we move forward in meeting Flotation Technologies' strategic objectives."
Mr. Kircher brings more than twenty-five years experience in materials science to Flotation Technologies. Most recently he served as Senior Staff Metallurgist with Sermatech Industrial where he was responsible for the development of high-temperature diffusion coating processes. During his tenure, Mr. Kircher developed ten major diffusion processes from the trial phase to full-scale production. Mr. Kircher holds both a BS and a Masters Degree in Materials Engineering from Rensselaer Polytechnic Institute and has been awarded six U.S. patents.
"Innovation has always been a key piece of Flotation Technologies' strategic plan and much of the reason for our extraordinary growth," stated David Capotosto, President of Flotation Technologies. "Tom Kircher is a most welcome addition to the team and his hire marks a significant step forward as we continue to strengthen both our engineering and design staff. His expertise will prove invaluable as we continue in the development of new, proprietary products and materials."
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 October 16, 2008 and Flotation Technologies undertakes no duty to update the information provided herein.
DPDW Board, Week ending 10-31-08 News & Views. Deep Down Inc
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Jan 26, 2009 9:26:00 AM
Jan. 26 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced expansion plans of its buoyancy manufacturing facility and flotation testing services in response to recent orders and anticipated demand for its drilling riser buoyancy system used in ultra-deepwater production. The facility's expansion effectively doubles its buoyancy manufacturing capacity.
Deep Down acquired the Biddeford, Maine based facility, Flotation Technologies, Inc., in June of 2008 in conjunction with its continuing strategy to expand services in the deepwater and ultra-deepwater drilling and production markets. Subsequently, the Company announced an $11 million order for its deepwater drilling riser buoyancy modules to be installed on the Delba III semisubmersible drilling rig, which has a long-term contract to drill in Brazilian waters.
"Deep Down's primary opportunities are in the growing deepwater drilling and production services sector," commented Ronald E. Smith, Deep Down's president and chief executive officer. "To ensure our Company is prepared to meet demand, we have committed over $2 million to expand production and testing service capabilities. We have undertaken this expansion to advance Deep Down's strategy to become a leader within the deepwater buoyancy marketplace."
Deep Down's newly engineered drilling riser buoyancy solution, with its patent-pending CoreTec(TM) syntactic foam buoyancy technology, has solved many difficulties over current buoyancy products because it is inherently stronger at depth and provides a longer service life, which ultimately translates into a much more cost-effective drill riser buoyancy solution.
Ground has already been broken on the first phase of the expansion project, with construction to improve the Maine facility's shipping access and operational functionality. The second phase of the project, which includes the Maine facility's expansion and a Texas-based testing service capability, is slated to begin later this quarter.
About Deep Down, Inc.
Deep Down, Inc. 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 four subsidiaries. More information about Deep Down is available at http://www.deepdowncorp.com, by contacting the company at (281) 862-2201 x250, 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.