Biddeford, Maine - Buoyancy specialist Flotation Technologies Inc., part of Deep Down Inc., has been named the 27th fastest-growing, privately owned manufacturing company in the US by Inc. magazine.
Overall, Flotation Technologies, a world leader in engineering, design and manufacture of deepwater buoyancy and polyurethane elastomer products, ranked No. 1006 on the prestigious Inc. 5000 list. These rankings recognise the substantial growth the company has experienced over the past three years, including the doubling of its revenue from 2006 to 2007, said a 16 Sept statement from Biddeford, Maine-based Flotation Technologies.
"Being recognised by Inc. magazine for our growth is an honour shared by the management and employees of Flotation Technologies and speaks to our drive and the dedication to the customers and markets we serve," said David Capotosto, president. He added that this drive is fully supported by new parent, Deep Down, and will also "continue to fuel Flotation Technologies' aggressive growth."
"The growth Flotation Technologies has experienced since 2004 is unparalleled," commented Robert Chamberlain Jr, chairman and director of Deep Down, a supplier of products and services to the offshore energy exploration sector.
"It is this growth coupled with Flotation Technologies' expertise in the engineering, design and manufacture of subsea products that drew Deep Down to acquire the company in June of 2008. We are extremely proud of Flotation Technologies for receiving this prominent recognition and look forward to the tremendous future of the company."