FLOTATION TECHNOLOGIES AND LANKHORST MOULDINGS CREATE A NEW COMPANY IN THE OFFSHORE MARKET
Houston, TX – June 1st, 2006 -Flotation Technologies, Inc, a global leader in deepwater buoyancy systems, and Lankhorst Mouldings, a leading supplier of polymeric pipeline ancillary systems, jointly announce the signing of an Alliance Agreement and the creation of a new Joint Venture LLC to offer the combined product lines in the Gulf of Mexico.
The new company, Lankhorst Flotec Offshore LLC (LFO) has been formed to pool the Engineering, Sales, and Product Development resources of both companies. Together, they offer a complete portfolio of products and a global reach, with manufacturing in both Europe and the United States. LFO will allow for the creation of unique and enhanced solutions from Exploration through Production, offering all ancillary products from the seabed to the surface. LFO will be the Sales and Marketing arm of both companies throughout the Gulf of Mexico.
“I’m excited by the potential of this alliance, not only for both our companies, but more importantly for our customers,” stated Tim Cook, President of Flotation Technologies. “With record high crude prices the offshore market has seen explosive growth. This alliance, and new company it forms, will allow Lankhorst and Flotation Technologies to better serve the market and meet its growing needs.”
“We both recognized how each of our companies complimented the other from the onset of discussions,” commented Ed Flohr, Managing Director, Lankhorst Mouldings. “This alliance combines the industry expertise and product knowledge of two companies that share the same vision and have similar values. Our ultimate goal is to better serve our customers by providing them with a complete solution from a single vendor while meeting the unique needs of the Offshore Marketplace as a whole.”
About Flotation Technologies Flotation Technologies, Inc. is a world leader in the design, engineering, and manufacture of deepwater buoyancy systems using high-strength Flotec™ syntactic foam and polyurethane elastomer products. Providing quick-turnaround custom engineering and fabrication to the Offshore Oil, Oceanographic, Seismic and Government markets. Flotation Technologies manufactures such innovative products as flexible riser buoyancy, modular buoys of any size, ADCP buoys, ROV buoyancy modules, pipeline/sled buoyancy, QuickLoc™ cable floats, Hardball™ umbilical floats, FLOTECT™ cable and pipeline protection, and elastomeric bend stiffeners and restrictors. For more information on Flotation Technologies visit www.flotec.com.
About Lankhorst Mouldings Lankhorst/Mouldings offer VIV Suppression Systems, Piggy-Back clamps, Riser Clamps Drilling Riser Protection Systems, Pipe in Pipe Centralizers, Anode Tapers, and Pipe Storage and Transport Systems. They have been using their knowledge and experience in moulding and extruding thickwalled products for heavy duty application since their start in the seventies. Lankhorst Mouldings is part of the Royal Lankhorst Euronete Group, a 203 year old industrial conglomerate, based in the Netherlands. For more information on Lankhorst Mouldings visit www.lankhorst-mouldings.nl.