Local metal manufacturer Arconic has sold off a subsidiary specializing in technology for deep water oil drilling, according to a release from Calash, an advisory firm that advised Arconic in the deal.
The subsidiary, RTI Energy Systems, was sold to Hunting PLC, a British-based supplier to the oil and gas industry. RTI manufactures production riser technologies for deep water applications, and is the only supplier of titanium stress joints, which are an alternative to flexible joints and steel tapered…
