By Houston Business Journal

Oilfield services company Deep Down Inc. and its joint venture partner, York Capital Management, have acquired a Massachusetts manufacturing firm.

The joint venture acquired Avon, Mass.-based foam flotation and insulation maker Cuming Corp. for $42 million.

The new company will be called Cuming Flotation Technologies LLC and will combine the operations of Cuming Corp. and Flotation Technologies, a subsidiary of Deep Down.

Houston-based Deep Down (OTCBB: DPDW) specializes in supplying products and services for deepwater and ultra-deepwater oil and gas companies.

York Capital Management is a New York-based investment fund with $14.8 billion in assets under management.

Copyright 2011 American City Business Journals

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