InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,127.79
(
1.26%
)
US TECH 100
17,442.00
(
2.14%
)
Dow Jones
38,675.68
(
1.18%
)
Brent Oil
82.77
(
0.00%
)
Bitcoin
62,743.06
(
-0.23%
)
Post# of 173714
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (3) Keep Next 10 Report Keyboard Shortcuts
Replies (3) Next 10 Prev Next

10 bagger

Send PM Follow Ignore
Followers 454
Posts 21811
Boards Moderated 7
Alias Born 01/20/2005

10 bagger

Re: 10 bagger post# 99754

Thursday, 04/17/2008 3:02:40 PM

Thursday, April 17, 2008 3:02:40 PM

Post# of 173714
DPDW... DPDW has to be owned if you want entry into the Deep Harsh Water drilling arena... This is more than a back door entry but a growing company with a grown list of clients that include most of the major companies in the O&G Service industry.. hank

Deep Down to Acquire Flotation Technologies
Thursday April 17, 2:01 pm ET

Flotation Technologies Receives Registered Supplier Status From Petróleo Brasileiro S.A.


HOUSTON, April 17 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced it has executed a Stock Purchase Agreement to purchase all of the outstanding capital stock of Flotation Technologies, Inc.

Headquartered in Biddeford, Maine, Flotation Technologies is a recognized leader in the design and manufacture of deepwater buoyancy systems, specializing in Flotec(TM) syntactic foam and polyurethane elastomer products. With extensive engineering, design, fabrication, and analysis capabilities, Flotation Technologies provides quick turnaround, cost-effective buoyancy and elastomer products to the worldwide oceanographic, offshore energy, seismic, and military markets. Within the past few years, Flotation Technologies has received its approved vendor status for the supply of engineered products such as distributed buoyancy, installation buoyancy and bend limiting products from numerous customers including Aker Kvaerner, Cooper Cameron, Chevron, Devon Energy, Exxon Mobil, Oceaneering Multiflex, Petrobras, Shell, Statoil, Technip, and Wellstream International. More information can be obtained at http://www.flotec.com.

This is huge, humongous, gigantic IMO. Now we know we'll have a more direct play with PBR's projects!

http://www.flotec.com/flo8.html

Flotation Technologies Receives Registered Supplier Status From Petróleo Brasileiro S.A.
Company to Supply Syntactic Foam Flotation Products, Including Distributed Buoyancy Modules for Flexible Risers and Umbilicals

Oct. 25, 2007 - Flotation Technologies, Inc., a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer systems, today announced it has received its Certificate of Register and Registration Classification (CRCC) as an approved supplier for Petróleo Brasileiro S.A. (NYSE: PBR), Brazil's leading international energy company. Petróleo Brasileiro S.A. is commonly known as Petrobras.

Flotation Technologies worked in conjunction with Daslik do Brazil to obtain this highly coveted recognition. With this certification, Flotation Technologies is positioned to earn new business opportunities based on its leading products, engineering diversity and unparalleled customer service.

"By granting Flotation Technologies with CRCC status, Petrobras acknowledges the dedication to design, manufacturing and engineering of our products," said Tim Cook, president, Flotation Technologies. "This recognition is also indicative of the progress Flotation Technologies has recently made. Through our quality and manufacturing processes we ensure that Petrobras will receive the most highly engineered products in the deepwater buoyancy market."

"We consider Brazil to be of the utmost importance to our company's growth," commented Fred Maguire, sales and marketing manager, Flotation Technologies. "It is one of the fastest growing offshore markets in the world and we look forward to serving Petrobras as a valued supplier of proven deepwater products."

Within the past few years, Flotation Technologies has received its approved vendor status for the supply of engineered products such as distributed buoyancy, installation buoyancy and bend limiting products from customers including Cooper Cameron, Oceaneering Multiflex, Technip and Wellstream as well as several large, independent oil companies.










Public Reply Private Reply New Post
Keep Last Read
Replies (3) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (3) Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up