Acquisition expands Alcoa's presence in oil/gas market

Alcoa announced June 25 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 gas industry to develop lightweight welded aluminum risers for deepwater applications. “We see this acquisition as a unique growth opportunity for Alcoa. Lightweight and strength are attracting customers to aluminum risers.... [read full story]                    

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