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Sarine 150
Sarine Turns Profit Following Furloughs, Pay Cuts
Sarine Technologies ended the first half of 2020 in the black as deep cost cuts offset the effects of Covid-19.The supplier of diamond-polishing equipment made a profit of $1.2 million for the period, compared with a loss of $2.8...
Manufacturing Aug 09, 2020 Rapaport News
Sarine Podcast
Pandemic Is Pushing Industry to Embrace Tech
The coronavirus pandemic has accelerated the use of technology in the diamond supply chain, diminishing the fear that many in the industry had toward embracing innovation, according to David Block, CEO of Sarine Technologies.“The fear...
Technology Jul 20, 2020 Rapaport News
Sarine Lucara 150
Sarine to Provide ‘Birth Certificate’ for Lucara Rough
Sarine Technologies has expanded its collaboration with Lucara Diamond Corp. to include provenance traceability for all diamonds listed on the miner’s rough-sales platform.Clara, which enables customers to obtain individual rough diamonds with the...
Technology Jun 28, 2020 Rapaport News
Sarine
Sarine Warns of Severe Earnings Impairment
Sarine Technologies expects the coronavirus pandemic to have a heavy impact on revenue in the second and third quarters amid shutdowns in its major markets. “We cannot yet forecast what our business results will be for...
Technology Apr 28, 2020 Rapaport News
Sarine
Weak Market Drives Sarine to Full-Year Loss
Sarine Technologies reported a loss in 2019, as soft demand in the first nine months outweighed a stronger fourth quarter.The diamond technology company reported a net loss of $1.4 million for the year, compared with a profit of $7.6...
Technology Feb 25, 2020 Rapaport News
Ellen Joncheere HRD Antwerp
HRD Antwerp Not for Sale (for Now)
The Antwerp World Diamond Centre (AWDC) has postponed the sale of HRD Antwerp, and will instead embark on a turnaround strategy for the laboratory.“The [AWDC] board of directors and standing committee decided not to sell...
Polished Markets Feb 23, 2020 Joshua Freedman
HRD Antwerp Hatton Garden
Peter Meeus Bids Again for HRD Antwerp
Former HRD Antwerp chief Peter Meeus has made a second offer to buy the Belgian laboratory, after its owners rejected his initial proposal.“I’m going straight to the Hoveniersstraat 22 to [deposit] my new bid,” Meeus said...
Polished Markets Feb 19, 2020 Joshua Freedman
Panel
Panel Highlights Traceability Opportunity
The trend of adopting diamond traceability measures is gaining traction, according to participants in a panel discussion at Israel’s International Diamond Week.The panel, moderated by Rapaport Senior Analyst Avi Krawitz, explored how various businesses across the supply...
Polished Markets Feb 13, 2020 Rapaport News
IDWI
Israel Diamond Week Lifts Local Trade
The International Diamond Week in Israel (IDWI) closed Wednesday with participants noting steady trading among local dealers in the absence of Chinese buyers.Delegations from China and Hong Kong were scheduled to attend the three-day...
Marketing Feb 13, 2020 Rapaport News
Ellen Joncheere HRD
HRD Names New CEO Amid Sale Process
HRD Antwerp has hired Ellen Joncheere as its CEO in the middle of a process to sell the company.Joncheere currently holds the same position at Fremach International, a supplier of car parts to the automotive industry. She will join...
Polished Markets Dec 26, 2019 Rapaport News
HRD
Sarine Joins Race to Buy HRD Antwerp
Sarine Technologies has entered the running to acquire HRDAntwerp, according to two sources close to the sale process. The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous...
Polished Markets Dec 03, 2019 Joshua Freedman
Sarine
Sarine Returns to Profit in Third Quarter
Sarine Technologies recorded its first quarterly profit this year amid solid demand for its Galaxy diamond-mapping equipment. Profit for the three months ending September 30 came to $234,000.While the figure was 13%...
Rough Markets Dec 03, 2019 Rapaport News
Alrosa Sarine
Alrosa Launches Digital Tenders with Sarine Tech
Alrosa has implemented a digital-tender pilot enabling buyers to scan rough diamonds to evaluate their polished output using systems from SarineTechnologies. The program, which the Russian miner debuted at its October sale, uses Sarine’s...
Rough Markets Nov 11, 2019 Rapaport News
Sarine Tiffany
Sarine Adapts Grading to Reach Tiffany Standards
Sarine Technologies will modify its diamond-grading equipment to comply with the luxury jewelry retailer’s stringentguidelines. Sarine bases its automated grading on the Gemological Institute of America’s grading system. However, Tiffany’s in-house graders have...
Polished Markets Nov 03, 2019 Rapaport News
Sarine building 150
Sarine Anticipates Return to Profitability
Sarine Technologies expects to register a “nominal” netprofit for the third quarter, as sales of mapping machines for small diamonds increasedamid a lessening of the midstream inventory crisis. The manufacturer of equipment for the diamond tradeforecast revenue...
Manufacturing Oct 24, 2019 Rapaport News
Sarine
Sarine, NGTC Partner on Grading Standards
Sarine Technologies is collaborating with China’sNational Gemstone Testing Center (NGTC) to advance diamond-gradingstandards in China. Sarine CEO DavidBlock and NGTC president ZhiBin Ye signed the agreement in Beijing Monday, with the intention of combining NGTC’s extensive...
Polished Markets Sep 19, 2019 Rapaport News
Sarine
Sarine Sales Dip Amid ‘Challenging’ Market
Sarine Technologies saw a sharp decline in revenue duringthe second quarter, as an oversupply in the midstream led to lower sales of manufacturing equipment. Sales fell 35% year on year to $11.6 million for the threemonths ending June 30,...
Polished Markets Aug 12, 2019 Rapaport News
Israel Dignitaries 2019
Israel Honors 12 Industry Dignitaries
The Israel Diamond Manufacturers Association last week honored 12 individuals for their contribution to the industry.The ceremony, which occurs every two years, bestowing the title “Israel Diamond Industry Dignitary 2019,” took place...
Polished Markets Aug 05, 2019 Rapaport News
Sarine
Diamond Slump Hits Demand at Sarine
Sarine Technologies expects to report a loss for the second quarter, ascontinued market uncertainties led to lower demand for its diamond-manufacturing equipment. The net loss will be approximately $1 million, the companycautioned earlier this month,...
Rough Markets Jul 30, 2019 Rapaport News
Sarine
Cutters Join Sarine’s Diamond Journey
Sarine Technologies has partnered with 14 diamond manufacturers on its Diamond Journey provenance program, enabling retailers to tap a growing resource of polished stones certified through the initiative. “We expect to have tens of thousands of documented diamonds...
Technology Jun 11, 2019 Rapaport News
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