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EGL South Africa Issues Statement on RapNet Delisting

Sep 12, 2014 8:28 AM   By EGL South Africa
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Press Release:  Alan Lowe, the managing director of EGL South Africa, has issued the following statement in response to a RapNet press release issued on  September 9,  2014 regarding the suspension of EGL diamond certificates.

“Whilst I strongly agree with Martin Rapaport that action must be taken against any laboratory that issues overstated certification and, in so doing, damages consumer confidence in the diamond industry, I am very disappointed that EGL South Africa was grouped with some of the other EGL laboratories around the world when it comes to ethics or grading policy.

"EGL South Africa (EGL SA) has been in business for 34 years and during this time has never been accused or found guilty of any wrong doing in grading of diamonds. I was the founding managing director of EGL SA and I have always made it my mission to ensure that we produce certificates to the highest international standards based on sound gemological criteria. We believe our Johannesburg laboratory is one of the best equipped labs on the continent and, as such, it allows us to certify diamonds to the highest international standards.”

EGL SA has two laboratories in South Africa. Its head office is based in Johannesburg and the second laboratory is situated in Cape Town. The company operates independently from any other EGL laboratory globally and grades diamonds according to acceptable international grading standards. The South African company is 20 percent owned by its managing director with the balance of shareholding residing overseas. EGL SA only does grading at its own facilities in Johannesburg and Cape Town and this is clearly stated on all reports and certificates. EGL SA is one of only two big diamond grading laboratories in South Africa.

Alan Lowe as managing director of EGL South Africa, has been a member in good standing of the Diamond Club of South Africa (DCSA) for many years and also serves on the DCSA executive.

 

Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.

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Tags: diamond grading, EGL South Africa, RapNet
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