18 Dec 2007 - 12:00
On Monday, December 17, 2007 The Diamond Trading Company (DTC), the distribution arm of the De Beers family of companies, unveiled the results of the Sightholder application process. Kristall Production Corporation has retained its sightholder status, while the DTC has reduced the number of its clients. Kristall’s agreement with the DTC will be for the 2008-2011 contract period.
Smolensk Kristall regards this event as most remarkable not only for the company, but for the whole diamond industry because the sightholder selection criteria are no doubt impartial and become more and more strict. This once again demonstrates excellence in Kristall’s technical, distribution and marketing ability, and the core strengths of its diamond business as well as financial transparency and ethical accountability which were compulsory requirements for all applicants.
Kristall Production Corporation was originally appointed as a Diamond Trading Company sightholder in 1998. In the coming year the company will celebrate the tenth anniversary of its sightholder status. Kristall is the first and until now the only Russian DTC sightholder.
Kristall takes this opportunity to express deepest gratitude to those who rendered assistance in retaining the sightholder status for the new term, especially to the team of international diamond broker W. Nagel, which for almost ten years has continuously been representing Kristall’s interests in the relations with the DTC.