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OFS - Hunting bets on offshore turnaround and RTI Energy Systems - August 2019
London-based Hunting acquired RTI Energy Systems, a manufacturer of production riser technologies for deepwater applications, for $12.5 million. While RTIES is currently posting operating losses, Hunting is optimistic about its technology and potential when offshore drilling recovers. RTIES’s product portfolio incorporates proprietary technology protected by several patents. The company is also the only supplier of titanium stress joints, providing a more reliable, compact and lower total cost alternative to flexible joints and steel-tapered stress......
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