Alcoa reached an agreement with Noble Corp. to acquire Noble’s intellectual property pertaining to welded aluminum risers used in offshore oil and gas exploration and development. Noble designs and deploys welded aluminum riser systems using Alcoa’s advanced extrusions and forgings. 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.
Alcoa just completed a $750 million expansion of a construction-products factory in Russia that will allow it to produce beverage cans for the European market. In addition, the company recently purchased a small fasteners business in Morocco that supplies aerospace customers in Europe.