BIDDEFORD, Maine (Feb. 3, 2009)—Flotation Technologies Inc., part of Deep Down Inc. has begun an expansion at a site next to its current plant.
The land, purchased at the end of last year, will be used to expand the facility, shipping access and parking, the company said.
President David Capotosto said the firm has experienced strong growth over the past three years and sees no sign of this growth slowing, even in the current economy.
He said the added space will allow the company to meet and surpass its projected growth over the next three to five years.
Flotation Technologies aims to first expand the facility's shipping and receiving area, improve road access and add parking for more workers. In a second phase, beginning later this quarter, the building will be expanded, the firm said.
Flotation Technologies specializes in deepwater buoyancy systems using high-strength Flotec syntactic foams and polyurethane elastomers for marine applications.