DeepFlex Announces a New Facility in the Port of Pensacola, Florida to Support Global Flexible Subsea Pipe Markets

HOUSTON, July 11, 2014 /PRNewswire/ -- DeepFlex announced today the signing of an agreement with Offshore Inland Marine & Services, Inc. (OIMO) to establish a new unbonded flexible pipe manufacturing and qualification testing facility to be located in the Port of Pensacola, Florida. The industrial complex will have direct access to the existing deep water quay-side, which is strategically located for optimized access to serve the flexible pipe markets in the Gulf of Mexico, West Africa, Europe and Asian regions. The state of the art manufacturing and qualification testing facilities will create job opportunities in excess of 100 direct jobs and make a significant contribution to the City of Pensacola's industrial and business growth.

The DeepFlex Pensacola Plant will initially have a manufacturing capacity of 100 normalized kilometers per year of unbonded flexible pipe to serve the rapid growth of offshore developments worldwide and will deliver the patented, high technology, composite fiber reinforced flexible pipes to the most harsh subsea environments.

This new plant is one part of a major capital expenditure program to strengthen DeepFlex's abilities in flexible pipe research, development, manufacturing, qualification testing, and delivery of customized solutions. The investment will reinforce DeepFlex's leadership position in the composite fiber reinforced unbonded flexible pipe market.

Expected to be fully operational by Second Half of 2015, the plant's primary focus will be the emerging ultra-deep water markets. The facility will have the capability of producing the complete product range of DeepFlex flexible pipes, including the all composite reinforced pipe structures (FFRP) and the hybrid (composite and steel) reinforced pipe (FHRP). The manufacturing site has been designed to allow for future expansion for the rapidly growing deepwater markets as well as for ever increasing product complexity.

Felipe Lamego, DeepFlex President & CEO, said: "Our new plant in Pensacola, benefiting from its strategic location and our leadership in composite fiber reinforced flexible pipes, will strengthen our global leadership in the research, development, industrialization and commercialization of advanced technology for the delivery of deep water enabling flexible pipe solutions. We look forward to the bright future ahead for this facility's growth with the City of Pensacola and Offshore Inland."

About DeepFlex:
Headquartered in Houston, Texas USA with sales and engineering facilities in Rio de Janeiro, Brazil, DeepFlex develops, designs, and manufactures premium all composite as well as hybrid unbonded flexible pipe used in the global subsea oil and gas production environment. As the world's only manufacturer of unbonded non-metallic pipe for deepwater applications, the patented DeepFlex products are lighter, less costly to install, and do not suffer the corrosive effects of harsh environment service. For more information on the products and services provided by DeepFlex, visit the company's web site at www.deepflex.com.

Contact

Brittlyn Pohl
DeepFlex Inc.
3350 Rogerdale, Suite 200
Houston, Texas 77042
Tel: +1-713-334-1500