Alcoa Expands Position in Oil and Gas Market; Agrees to Purchase

Alcoa Expands Position in Oil and Gas Market; Agrees to Purchase Intellectual Property from Noble for Welded Aluminum Risers Lightweight Aluminum Solution Enables Deeper Drilling and Cost Savings Benefits NEW YORK--Alcoa (NYSE:AA) announced today that it has reached an agreement with Noble Corporation to acquire Noble's intellectual property pertaining to welded aluminum risers used in offshore oil and gas exploration and development. Noble, a leading drilling contractor, designs and deploys welded aluminum riser systems using Alcoa's advanced extrusions and forgings, including the same highly engineered alloys used by the aerospace industry. Advances in metallurgy and joining technology have made aluminum risers more durable and corrosion resistant. This acquisition enables Alcoa to partner with manufacturers in the oil and... [read full story]                    

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