The Diamdel companies, which comprise the rough diamond trading subsidiary of De Beers companies that focus on sales to the secondary market, have announced that all supply received from the Diamond Trading Company Ltd. will be sorted, valued, and prepared for export by a central processing operation based in Ramat Gan, Israel.
Traditionally, Diamdel’s supply from the DTC, which comprises the vast majority of its intake, had been split at the point of sale in London and shipped to each of the Diamdel’s seven outlying offices worldwide.
The decision to locate the Diamdel’s CPO in Israel follows an assessment of the means by which the long established company can better meet the diverse needs of its global customer base of over 500 non DTC clients, De Beers said in a statement. The CPO will be fully operational beginning January 2007.
“The establishment of a CPO for Diamdel will not, under any circumstances, affect the company’s dedication to satisfying, where possible, client requirements in other diamond centers, on the contrary it is intended to enhance our ability to ensure the timely, appropriate and efficient supply of goods,” said Frank Auger, managing director of Diamdel NV.
Diamdel Israel, a provider of rough to the local developing market, supplied over $145 million to the Israeli industry in 2005. Diamdel Israel’s client base, increased from 85 to more than 100 during that period.