Thursday, February 5, 2009 Biddeford, Maine -- Flotation Technologies, Inc., a Deep Down Inc. company and a global leader in deepwater buoyancy systems, has announced the purchase of land adjacent to its current facility and has broken ground on an expansion project. Closing on the land took place the end of last year in preparation for an expansion of the facility, shipping access, and parking. "We have experienced strong growth over the past three years and see no sign of this growth slowing, even in the current economy," commented David Capotosto, Flotation Technologies' president. "This expansion will allow us to meet and surpass our projected growth over the next three to five years, while continuing to provide our customers with the level of service they have come to expect from Flotation Technologies." Construction has already begun on the project's first phase to improve the facility's functionality. The second phase of the project, which includes the building's expansion, is slated to begin later this quarter and is in the process of final design and engineering. Flotation Technologies, Inc., a wholly-owned subsidiary of Deep Down Inc., is a world leader in the engineering, design and manufacturing of deepwater buoyancy systems using high-strength FlotecTM syntactic foams and polyurethane elastomers. - http://www.rubberworld.com/newsweek.asp?id=12291&date=month
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