International Directional Services, A Granite Company, And Veracio Announce Strategic Partnership To Advance Drilling And Downhole Technologies In North America
Portfolio Pulse from Benzinga Newsdesk
International Directional Services (IDS), a subsidiary of Granite Company (NYSE:GVA), and Veracio, a mining technology firm, have announced a strategic partnership to advance drilling and downhole technologies in North America. The partnership will offer Veracio's suite of driller-operated tooling to IDS' clients, aiming to enhance mining lifecycle with advanced geological technologies. The collaboration is expected to reduce drilling costs, minimize errors and waste, and promote sustainable mining practices. Veracio's TruGyro and TruShot tools, known for precision and durability, will be distributed by IDS, with plans to expand offerings as Veracio introduces new products.
December 06, 2023 | 2:07 pm
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POSITIVE IMPACT
Granite Company's subsidiary IDS has partnered with Veracio to enhance drilling technologies, which may lead to cost savings, operational efficiency, and sustainable mining practices for GVA's clients.
The strategic partnership between IDS and Veracio is likely to have a positive impact on Granite Company's stock in the short term due to the potential for increased efficiency, cost savings, and the enhancement of their service offerings in the mining sector. The focus on sustainability and advanced technology may also appeal to environmentally conscious investors, further supporting a positive outlook.
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