A letter of intent has been signed by US-based company Adamas, which creates gem-quality and industrial lab-grown diamonds using chemical vapour deposition (CVD), to buy Indian company 'Flawless Allure Grown Diamonds'.
Adamas will acquire 100% of Flawless, a cutting and polishing company including all patents, trademarks, know-how, trade secrets, supply lists and other material and intellectual property assets.
Adamas CEO Jay Grdina said: “This acquisition will solidify our position as a leader in the lab-grown diamond industry, based on our capabilities to vertically integrate, produce and market lab-grown diamonds. Our goal has been to complete our ecosystem and become as self-sufficient as possible."
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
