Diamond cutting polishing Russia

ALROSA EDGES CLOSER TO MERGER WITH KRISTALL

Russian mining giant Alrosa and the largest manufacturer of diamonds in Russia, Kristall, have moved closer to integration as Maxim Shkadov, Director General of Kristall has left the company to join Alrosa.

 

In a statement released by Kristall and quoted by IDEX Online, the company explained that Shkadov will be involved “in the issues of integration of ALROSA and Kristall, the two largest Russian enterprises in the field of production and manufacturing of diamonds”. Back in July, Russia’s Deputy Finance Minister Alexei Moiseyev said that Alrosa would acquire Kristall by October of this year.

 

According to the report, the acquisition “would fit in well with Alrosa’s desire to increase its polished diamond production and range of products beyond simply rough sales”. Kristall is the largest diamond polishing company in Russia and Europe; it produces about 300,000 carats of polished diamonds every year and has annual sales of $200 million.

Other articles on the category

The branch news