HOUSTON, Oct. 1, 2012 (GLOBE NEWSWIRE) -- Forum Energy Technologies, Inc. (NYSE:FET) announced today that it has acquired Syntech Technology, Inc. (Syntech). Located in Lorton, VA, Syntech is a manufacturer of syntactic foam buoyancy materials used for remotely operated vehicles (ROVs) and other deepwater flotation applications. Details of the transaction were not disclosed.
Cris Gaut, Forum's chairman and chief executive officer, remarked, "Syntech is a welcome addition to our Forum Subsea Technologies product line and integrates an important part of the ROV supply chain. We plan to continue Syntech's long legacy of providing top quality buoyancy materials to all of Syntech's customers, while investing in the company to expand capacity and to serve new markets."
About Syntech
Founded in 1985, Syntech is a leading manufacturer of syntactic buoyancy foam for a variety of applications, including buoyancy foams for deep underwater flotation and underwater acoustic materials. The company serves the marine and oceanographic industries worldwide.
About Forum
Forum Energy Technologies, Inc., headquartered in Houston, TX, is a global provider of manufactured technologies and applied products to the energy industry. FET's over 3,200 employees provide the products and technologies essential to solving the increasingly complex challenges of the energy industry. For more information, please visit www.f-e-t.com.