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HB Antwerp and Sarine Partner on Technology
May 11, 2021 7:10 AM
By Rapaport News
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RAPAPORT... HB Antwerp and Sarine Technologies have agreed to a partnership that will see the pair integrate their respective machinery throughout the diamond-manufacturing process.
Under the deal, Belgian manufacturer HB will use Sarine’s scanning and automated grading systems for the entire supply chain, from rough sourcing to the final polished. HB will pay Sarine based on the value of the polished outcome. The companies have also pledged to explore potential new technologies at HB’s research and development (R&D) center in Antwerp and at Sarine’s in Israel.
HB launched in 2019, promising to reform the market for large diamonds by matching supply more closely to demand. Last year, it committed to buying all of miner Lucara Diamond Corp.’s rough goods above 10.8 carats, and recently extended the arrangement through 2022.
HB also acquired several businesses to help it achieve its goals, including the Scientific and Technical Research Center for Diamond (WTOCD), a technology unit owned by the Antwerp World Diamond Centre (AWDC).
“HB Antwerp and Sarine have a solid foundation for cooperation, given Sarine’s advanced technological solutions, which helps to serve HB Antwerp’s vision for streamlining the supply chain and providing the end consumers with the quality products they desire, along with the transparency and confidence they demand,” said Rafael Papismedov, HB Antwerp’s strategy director.
Earlier this month, HB unveiled a collaboration with Blockchain Solutions, claiming the arrangement would help the manufacturer give customers more verifiable origin information for its diamonds. In April, HB also partnered with Comate, a Belgian design and engineering firm.
For Sarine, the deal reflects a shift toward integrating its technology into clients’ systems and receiving remuneration based on polished outcomes, rather than just selling products and services, said David Block, its CEO.
“This methodology of aligning interests...is definitely something that we believe in strongly,” Block explained. “We have found that there are others who understand this and understand that it’s in [people’s] long-term interest to create such a win-win proposal rather than just [having] a much weaker link [with the client].”
Image: Rough diamonds. (HB Antwerp)
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Tags:
Blockchain, Blockchain Solutions, Comate, David Block, HB Antwerp, Lucara Diamond Corp., Manufacturing, Rafael Papismedov, Rapaport News, Sarine, Sarine Technologies, technology
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