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ALROSA delegation pays a working visit to Smolensk

29 november 2019
An ALROSA delegation led by Alexey Moiseev, Deputy Minister of Finance of the Russian Federation, who is also a member of the company’s Supervisory Board and Sergey Ivanov, the company's CEO paid a working visit to Smolensk. The company announced this in a press release distributed on Friday.
“The main part of the visit was devoted to the integration of Kristall into ALROSA’s diamond manufacturing complex and to increasing its efficiency,” the statement said. “To discuss these issues, the Strategic Planning Committee of the Supervisory Board of ALROSA chaired by Alexey Moiseev held a field meeting in Smolensk. After an optimal integration option will be found, proposals for the development of the diamond manufacturing complex will be submitted to the Supervisory Board of the company.

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            Image credit: ALROSA

"Kristall is a unique and the largest diamond-cutting company in Russia. Its transfer under the aegis of a specialized strategic investor, which understands the specifics of this market, is a logical and correct step that will give impetus to the development of Russia’s diamond-cutting bringing it to a new level. As in any business, a correct and balanced approach is indispensable to achieve this goal. In a dialogue with all parties involved, a step-by-step plan for the integration of ALROSA’s diamond manufacturing capacities is being worked out to ensure higher efficiency, develop the production base of the company’s operations and attain synergies in marketing and sales,” Alexey Moiseev said.
During the visit, the ALROSA delegation also had a meeting with Alexey Ostrovsky, Governor of the Smolensk Region. In particular, the parties discussed the issues of social stability at Kristall. According to ALROSA’s CEO, the company intends to maintain the social package and the terms of the Collective Agreement that are currently in force at Kristall and is seeking to preserve jobs within a possible optimization.
“Kristall has a good production base, highly qualified personnel, experience and expertise in the processing of natural diamonds, which makes it possible to produce polished diamonds in accordance with the highest industry quality standards. Its operation within ALROSA Group will provide the enterprise with stable supplies of rough diamonds, strengthen its economic potential, and open up new opportunities. Going forward, this is an opportunity to increase tax payments to the region’s budget. For ALROSA as a market leader, it is a step towards strengthening Russia's position in the international diamond market. We will work to increase the efficiency of production and sales of Kristall and bring it to a positive financial result,” Sergey Ivanov said.