Flotation Technologies has designed, developed, and assembled its own continuous liquid syntactic foam production machine. This machine allows Flotation Technologies to produce the large volume of foam required to make the 7-14 foot long drilling pipe flotation risers that appear to be in high demand for offshore drilling in very deep waters such as those of Brazil. These drill pipe risers will operate effectively in water depths of up to 4,000 meters (13,000 feet). Flotation Technologies has foam that is capable of operating in water depths of up to 7,000 meters (23,000 feet). Flotation Technologies advertises to customers that these riser buoyancy products have a one-year warranty and an economic life of 20-30 years. Flotation Technologies’ drilling riser buoyancy design is unique in the industry, and a patent application has been filed.
Flotation Technologies has owned and occupied its current Biddeford, Maine, facility for approximately one year. The facility contains approximately 6,000 square feet of office space and approximately 40,000 square feet of manufacturing space. Flotation Technologies is in the process of building a second continuous mixer at a cost of $500,000. This mixer will augment the production of foam on the same manufacturing line as the original mixer and provide redundancy. If Flotation Technologies requires expansion room, all warehouse and materials storage space could be moved to a leased facility located immediately adjacent to the existing facility, allowing storage space to be converted to manufacturing. Additionally, Flotation Technologies could add one additional new production bay at a building cost of $750,000 as early as March 2009. This new bay could be used to house an additional, continuous, liquid syntactic foam machines, built at an estimated cost of $500,000.
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