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Analysts expect mixed results for Christmas; Crossworks Manufacturing opens new facility in Canada.
Oct 14, 2009 7:00 PM   By Rapaport News
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RAPAPORT...  View the major U.S. retail sales predictions for Christmas season side-by-side in this broadcast. Remember though, even in a down economy, news is not all bad. Consumers are expected to spend more than $440 billion, which is a healthy amount under any circumstance.

Crossworks Manufacturing opened a new diamond polishing facility in Sudbury, Ontario, Canada. Crossworks Manufacturing is a member of the SunDiamond HRA Group. The new factory will be polishing diamonds from the De Beers Canada Victor mine. Crossworks won the right in  November 2008 to  10 percent of the unaggregated rough diamonds from Victor.

The facility will employ 27 polishers and offers a new opportunity in Ontario to succeed in the secondary diamond industry. “The diamonds that originate from the Victor Mine are some of the most spectacular in the world and they will be cut and polished in Ontario. We have a strong history of polishing in Canada and I can promise that our new facility in Sudbury will be an amazing success,” said Uri Ariel, president of Crossworks and the HRA Group of Companies.

“These diamonds offer an amazing opportunity for Ontario and Canadian retailers to market premiere diamonds that are mined, cut and polished in Ontario,” said Dylan Dix, marketing director of HRA. Dix speaks of the opening and shares market conditions from the pipeline in this broadcast.


Tags: Consumers, De Beers, De Beers Canada, Economy, Manufacturing, Polishing, Victor Mine
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