Stuller's DTC Sightholder Status Renewed

By JCK Online Staff -- JCK Online, 12/17/2007 3:47:00 PM

Stuller, Inc., originally appointed as a Diamond Trading Company sightholder, in 2005, announced Monday its successful reapplication of continuing its position with the Diamond Trading Company, the distribution arm of DeBeers. The news came from the DTC’s London offices. Stuller’s agreement with the DTC will be for the 2008-2011 Supplier of Choice contract period.

In the media release from the DTC, Varda Shine, DTC’s Managing Director, referenced the sightholder selection criteria which were, “Designed to identify those applicants that demonstrated excellence in their technical ability, their distribution and marketing ability, and the core strengths of their diamond business. Financial transparency and ethical accountability were mandatory requirements for all applicants.”

Gareth Penny, Managing Director of the DeBeers Group congratulated the new sightholders and noted that, “They represent a world class list of diamond companies comprising all areas of expertise in business models: large and small, across all of the world’s trading centres, from dealers to jewelry manufacturers and retailers.”

“We are very pleased to again be named a DTC sightholder, which reconfirms that our company is a prime diamond source," said Matthew Stuller, Stuller’s chairman and chief executive officer. "This reappointment validates Stuller’s continued commitment to providing diamonds for our customers in the most efficient and cost effective manner. Stuller is proud to be one of only 79 sightholders in the world.”

As a DTC sightholder, Stuller will continue to receive rough diamonds directly from the world’s leading rough diamond supplier, which will enable the company to provide a wide range of diamonds directly from diamond mines to retailers. In support of its global diamond trading platform, Stuller cuts and polishes rough diamonds in manufacturing facilities in Israel, China, Russia, India, and Belgium, as well as in its flagship operation in Lafayette, Louisiana.