Aug. 14, 2007 - Flotation Technologies, Inc., a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer systems, today announced it is a recipient of the prestigious Manufacturing Extension Partnership's (MEP) Manufacturing Excellence Award-an award that recognizes a company for achieving world-class manufacturing status. Flotation Technologies is also pleased to announce that it has moved to a new facility, significantly increasing manufacturing capacity and staff.
At a recent ceremony, the MEP presented Flotation Technologies with the Manufacturing Excellence Award for the company's superior manufacturing practices and dedication to continuous improvement. Based on the rapid growth of the company, and in preparation for increase in demand, Tim Cook, president of Flotation Technologies, enlisted the MEP's assistance in the development of best business practices and methods. With their direction, Cook began to adopt lean manufacturing principles including performance-improvement methods meant to enhance throughput and cut waste.
Flotation Technologies has since expanded into a 45,000 square foot facility in the Biddeford Industrial Park. At the new facility the company installed state-of-the-art automated production equipment allowing Flotation Technologies to triple its production capacity. The new space also has options to accommodate future growth. The increase in production seen from this expansion will enable Flotation Technologies to grow its staff by 50 percent by the end of the year.
"We have had a very exciting first half of 2007," explained Cook. "Flotation Technologies is seeing unprecedented demand in the offshore sector of our business, especially in flowline, umbilical and drilling riser buoyancy. As a result, the company has grown its manufacturing plant and engineering staff, positioning ourselves as the fastest growing, most technically capable firm in our market."
Recently, Flotation Technologies has secured more than $12 million in new contracts with major integrated oil companies, drilling contractors and oil service firms.
About The Manufacturing Extension Partnership
The Manufacturing Extension Partnership is part of the National Institute of Standards and Technology (NIST) under the United States Department of Commerce. It is a nationwide network of resources that helps to transform manufacturers to compete globally, supporting greater supply chain integration and providing access to technology for improved productivity of manufacturing extension centers. For more information visit www.mep.nist.gov.
About Flotation Technologies, Inc.
Flotation Technologies, Inc., based in Biddeford, Maine, is a world leader in the engineering, design and manufacturing of deepwater buoyancy systems using high-strength Flotec™ syntactic foams and polyurethane elastomers. Focused on the offshore oil, oceanographic, seismic and government markets, Flotation Technologies delivers world-class buoyancy products for a host of marine applications such as: distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyancy modules, ROV buoyancy, QuickLoc™ cable floats, Hardball™ umbilical floats, FLOTECT™ cable and pipeline protection, Inflex™ polymer bend restrictors and installation buoyancy of any size and depth rating. For more information visit www.flotec.com.
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