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Kiran Gems Cuts Loose US, HK Subsidiaries
Apr 12, 2017 8:09 AM
By Rapaport News
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RAPAPORT... Kiran Gems, a Surat-based diamond manufacturer, has offloaded a number of subsidiaries as part of a group-wide restructuring effort.
As a result, its US-based jewelry operations – Kiran Jewels Inc., Unique Design, SDIL, and Prestige – will operate as independent entities from Kiran, as will polished-diamond operation Kiran Export Hong Kong, the company said this week.
The restructuring technically ends all relations between the aforementioned companies and Kiran Gems Pvt. Ltd, which continues to be a De Beers GSS (International) Sightholder, the company explained.
Kiran Gems first announced its reorganizing process in September of last year, when it spun off its Belgium operation, Kiran Exports, as an independent unit.
The company is considered among the largest diamond manufacturers in the world, producing 1.6 million carats of polished diamonds per year from more than 5.7 million carats of rough, according to the firm’s entry on the De Beers sightholder directory.
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Tags:
diamonds, Jewelry, Kiran Gems, Rapaport News, Surat
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