ALROSA has signed a long-term agreement on rough diamond supplies to Rosy Blue, according to press release obtained by Rough&Polished. The signing ceremony took place on 19 December in Moscow. On behalf of ALROSA the document was signed by the company's CEO Fyodor Andreev, while Dilip Mehta, Director of Rosy Blue, signed it for Rosy Blue.
"Rosy Blue is one of the major customers of ALROSA on a long-term basis. The signing of a new agreement continues our partnership. ALROSA’ priority is to enter into direct long-term contracts with major companies involved in manufacturing of final products - polished diamonds and jewelry. Such agreements guarantee stable sales volume to us, as a producer, and secure stable rough diamond supplies to a customer", Fyodor Andreev said during the ceremony.
"We are delighted to enter into the extension of our partnership with such a reliable diamond supplier as ALROSA. Close and continuous dialogue with ALROSA has enabled us to navigate through past month of difficult market conditions", Dilip Mehta said.
Rosy Blue, established in 1973, specializes in rough and polished diamond trading, diamond cutting and jewellery manufacturing. It has its own diamond cutting facilities located in India, Thailand, Israel, Belgium and Sri Lanka, and 3 jewellery manufacturing facilities. The company's revenue exceeded $2 billion in 2011. Rosy Blue is also DTC sightholder.
Rosy Blue has been a long-term client of ALROSA since 2010, and participated in ALROSA’s international auctions as well.
The significant part of three-year term contracts expire in 2012. Now ALROSA is busy with updating the list of its long term customers.
Tatiana Alexandrova, Rough&Polished, Moscow
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