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million contract for a custom-designedr buoyancy system from an unnamed international energy Accordingto Biddeford, Maine-based Flotation Technologies, the name of the clientr and any more detailed description of the producg are confidential due to the nature of the The system should be delivered in the third and fourthj quarters of 2008, officials said. Last monthh Flotation Technologies was acquiredby Houston-basedr in a $23.3 million stock purchasew agreement. Founded in 1979, Flotation Technologies' deepwater buoyancy systems are used primarily for marine research and the commerciak andmilitary markets. Its customers includre , , and .
Last May, Flotationh Technologies won a $4 million contracgt from an unnamed source forflotation devices, and opened a 45,000-square-foot manufacturing plant in Biddeford. In 2006, the companty worked with the , a busineses development program supported bythe U.S. Departmentr of Commerce, to plan the company's businesa strategy and work force development.
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