---
title: "SHAREATE plans to acquire 100% equity of Drillco for USD 42 million to improve its hard alloy drilling tool industry layout"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/223330236.md"
description: "SHAREATE plans to acquire 100% equity of the Chilean company Drillco Tools S.A. through its wholly-owned subsidiary Australia SHAREATE for USD 42 million, with funding sourced from its own funds. This move aims to improve the company's industrial layout in the field of hard alloy rock drilling tools, enhance market competitiveness, and promote internationalization strategy. After the acquisition, the company will have its own brands of various rock drilling tools, strengthening its influence in the South American market"
datetime: "2024-12-26T11:17:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/223330236.md)
  - [en](https://longbridge.com/en/news/223330236.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/223330236.md)
generator: "portal-rs"
---

# SHAREATE plans to acquire 100% equity of Drillco for USD 42 million to improve its hard alloy drilling tool industry layout

According to the Zhitong Finance APP, SHAREATE (688257.SH) announced that in order to further advance the company's strategic layout, enhance market competitiveness, and promote high-quality development, the company plans to acquire 100% equity of the Chilean company Drillco Tools S.A. (referred to as "Drillco") in cash through its wholly-owned subsidiary Australia SHAREATE, with a transaction price of USD 42 million. The funding will come from its own funds, with SHAREATE increasing capital to Australia SHAREATE for implementation.

Since its establishment, the company has continuously focused on the production, research and development, and sales of hard alloy products and rock drilling tools. Drillco has over 50 years of experience in the rock drilling tool industry, particularly in the field of down-the-hole drilling tools, accumulating rich R&D experience, with significant advantages in technological innovation and performance optimization. It has also established a comprehensive sales channel in South America, possessing strong brand influence.

This acquisition of Drillco will further improve the company's industrial layout of hard alloy rock drilling tools. Upon completion of the acquisition, the company will have its own brands of three major rock drilling tools: roller bits, top hammer drilling tools, and down-the-hole drilling tools, forming a complete product portfolio of rock drilling tools. At the same time, it will help the company further enhance its competitiveness in the South American market, vigorously promote the implementation of the company's internationalization strategy, increase the global recognition of the company's brand, and expand the company's global business scope and international market influence

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**