14 Jan 2008 - 12:00
Smolensk Kristall, the Russian state-owned diamond cutting factory, announced today that its total sales revenues for the year just ended reached $404.4 million.
This represents a gain of 13% on the 2006 aggregate, the company said in a statement.
Kristall’s plant in western Russia has design capacity to cut 1 million carats per annum. According to Kristall, its production represents roughly half the Russian manufacturing market, which is approaching its Soviet-era level of $1 billion.
Lev Leviev's Ruis Diamonds is estimated to have generated sales in 2007 of over $300 million, according to a company source.
Polished sales at Alrosa's cutting subsidiaries totalled about $160 million in 2007.
In the statement, Kristall said it is targeting turnover value of $500 million this year.
By John Helmer.