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Press Release: Singapore Exchange Mainboard-listed Sarin Technologies Ltd., (U77:SI), a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the planning, processing, evaluation and measurement of diamonds and gems, today announced the signing of a strategic agreement between the New York Diamond Dealers Club (DDC), the leading diamond trade organization in the U.S., and Sarine North America.
The two entities have entered into a five-year collaboration, where Sarine North America will provide the group's latest rough and polished diamond technology for the use of DDC's members and the DDC will exclusively promote and market those solutions to the U.S. diamond industry. Sarine's newest products and services for rough and polished diamonds will be showcased this week during Israel Diamond Week between November 11 and 14 in New York in a special exhibition area.
Reuven Kaufman, the DDC’s president, commented, “This agreement with Sarine perfectly captures the two goals that we strive for as a bourse, providing top-notch services to our members and working toward the betterment of our industry as a whole. By signing this agreement, not only will we be providing our members with the top-of-the-line systems to analyze and plan their diamonds, we will also be working with Sarine to bring the benefits of their industry leading diamond technology into the hands of New York’s diamantaires.”
Ohad Axelrod, Sarine North America's vice president for business development, said, "We are excited to have signed the strategic alliance with the DDC. As leading organizations in our respective fields, we believe that the collaboration will benefit the diamond industry community in the U.S., allowing them direct access to our latest technologies that improve diamond sourcing, increase manufacturing yield, assess and grade the resultant polished stones and aid in the online and retail trade.”
Axelrod also noted that Sarine North America will be opening new offices in the just-completed International Gem Tower on New York's 47th Street (Diamond Way) between Fifth Avenue and the Avenue of the Americas shortly after the New Year. The new offices will serve as the base for direct marketing in North America of the group's various product lines both for rough diamonds (e.g., inclusion scanning, planning, etc.) and polished diamonds (e.g., cut and symmetry grading, the Sarine LightTM for Light Performance grading and the Sarine LoupeTM for polished diamond imaging for the online and retail trade). The facilities will also house North America's first inclusion mapping center.
About the New York Diamond Dealers Club (DDC):
Established in 1931, the DDC has grown into the largest diamond trade organization in the United States and one of leading diamond exchanges in the world. Over the years, the Diamond Dealers Club has changed dramatically to keep pace with expanding foreign markets and rapid technological advancements. The DDC is also intensively involved in the representation and administration of the international diamond trade, being a founding member of the World Federation of Diamond Bourses, when it was created in 1947. Today the DDC provides a vast array of services necessary for members of the industry to participate and compete in the contemporary world market.
About Sarin Technologies:
Established in 1988, Sarin Technologies Ltd. is a worldwide leader in the development and manufacturing of advanced planning, evaluation and measurement systems for diamond and gemstone production. Sarin products include diamond cut, color and light performance grading tools, the GalaxyTM family of inclusion mapping systems, rough diamond optimization systems, laser cutting and shaping systems and laser-marking and inscription machines. Sarin systems have become an essential gemology tool in every properly equipped gem lab, diamond appraisal business and manufacturing plant, and are today considered essential items by both diamond dealers and retailers. For more information about Sarin and its products and services, visit http://www.sarin.com.
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