Deep Down's Flotation Technologies Opens New Rotational Molding Facility

HOUSTON, Sept. 21 /PRNewswire/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, today announced its wholly owned subsidiary Flotation Technologies, Inc., continued expansion of the Biddeford Maine facility with the addition of a 20,000 sq ft rotational molding facility.  This state of the art facility features a custom designed rotational molding machine originally engineered to manufacture the patented CoreTec™ Drilling Riser Buoyancy Module external shell.  The equipment is now serving to provide a host of products for Flotation Technologies as well as additional products sold to the greater New England marketplace.

Rotational molding is a three-stage plastic molding process during which a metal mold is heated and slowly moved around two axes (bi-axial motion). This heat transfer causes the plastic inside the mold to melt and coat the interior of the mold. Once a uniform coating is achieved, the mold moves to the cooling station where it is cooled by air and/or water spray.  In the final load/unload stage, the part, now a hollow plastic form, is removed from the mold and a new charge of material is loaded into the mold.

"We are very excited about this facility," commented Al Marquis, Flotation Technologies' Operations Manager and Business Unit Manager.  "We're part of a growing industry in this region with a skilled and enthusiastic work force supporting our commitment to our customers.  The new plant, with expansion capabilities to nearly 40,000 square feet and at full capacity will employ more than 25 highly skilled workers, is an important step in (1) reducing our costs to manufacture, (2) maintaining our current growth plans and (3) expanding our modularity strategy," continued Mr. Marquis.

"We believe that the rotational molding technology will play a key role in our ultra deepwater strategy as we apply this technology to application beyond flotation buoyancy. This expanded manufacturing facility will allow Al and his team to not only improve capacity and margins on our existing product lines but will also give us the flexibility to manufacture in-house some products we are currently marketing," added Ronald E. Smith, Chief Executive Officer, Deep Down, Inc.

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 tooling, 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. More information about Deep Down is available at www.deepdowncorp.com.

Forward-Looking Statements

Information set forth in this document contain "forward-looking statements" (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect Deep Down's expectations regarding future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the benefits of the business combination transaction involving Deep Down and Cuming, including future financial and operating results, whether and when the transactions will be consummated, the new combined company's plans, market and other expectations, objectives, intentions and other statements that are not historical facts.

The following additional factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the ability to obtain  financing and approvals for the transaction; the risk that any synergies from the transaction may not be realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; the ability to successfully integrate the businesses, unexpected costs or unexpected liabilities that may arise from the transaction, whether or not consummated; the inability to retain key personnel; continuation or deterioration of current market conditions; future regulatory or legislative actions that could adversely affect the companies; and the business plans of the customers of the respective parties. Additional factors that may affect future results are contained in Deep Down's filings with the Securities and Exchange Commission ("SEC"), which are available at the SEC's web site http://www.sec.gov. Deep Down disclaims any obligation to update and revise statements contained in these materials based on new information or otherwise.

SOURCE Deep Down, Inc.