Deep Down Expands Sales Team with 2 New Appointments

Deep Down, Inc. has expanded its sales organization to support the substantial growth the Company is experiencing.

Since 2006, the Company has significantly increased its product and service offerings, and has successfully entered several key growth segments of the deepwater market. As a result, Deep Down has more than quadrupled its revenue and tripled its workforce. In response to this rapid growth, the Company has hired Mr. Michael J. Newbury as Corporate Business Development Manager, and Mr. Matthew Todd for corporate sales, to further support its offshore corporate business development activities.

Mr. Newbury brings to Deep Down more than 19 years of experience and relationships in offshore business development, sales and marketing, and subsea service project support. Before joining Deep Down, Mr. Newbury held various business development and operational positions with such companies as Subsea 7, Halliburton Subsea, Subsea International, and Subsea Offshore Limited. Mr. Newbury's main areas of focus over the past eight years have been in offshore business development, tendering, and contract negotiation.

Mr. Todd is formerly from Global Industries where his responsibilities included business development for installation services, dive support, and ROV services in the Gulf of Mexico. Mr. Todd will initially focus on mobilizing Deep Down's fleet of light and medium class electric ROVs on offshore platforms, drill rigs, and vessels, thereby offering its customers lighter and lower-cost ROV support services.

"We hired Mike and Matt to help us make the most of our rising offshore sales and business development opportunities," commented Bradley M. Parro, Deep Down's vice president of operations. "They will be responsible for enhancing our global reach and marketing our entire scope of subsea services and technologies to both new and existing customers. This strategic move is designed to maximize exposure of Deep Down's products and services to the growing deepwater and ultra-deepwater exploration and production markets."

"Mike brings important international experience to Deep Down as well, having worked and lived in most major oil producing regions of the world, including the Gulf of Mexico, South America, North Sea, Asia, and Oceania," commented Ronald E. Smith, Deep Down's president and chief executive officer. "He is well-known and respected within our industry, and is a perfect addition to Deep Down's global sales effort. Matt will be instrumental in demonstrating that, with ROVs, sometimes 'less-is-best,' especially when accompanied by an improved suite of ROV tools. Our ROV services fill a very important gap in deepwater projects."

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