De Beers acquires equity stake in Synova

David Brummer

De Beers announced that it has acquired a 33.4-percent equity stake in Synova SA, a laser cutting system provider. De Beers said the acquisition supports its strategy in investing in developing technologies that support and enhance the long-term value of diamonds.

De Beers will work with Synova to develop a fully automated cutting and shaping technology, with laser micro jets (LMJ) at its core. This technology achieves higher yields, reduces the risk of damage to stress stones and generates higher productivity due to faster cutting time and easier processing.

We believe this new cutting technology has the potential to play an important role in the diamond industry, as efficiency becomes ever more important for diamantaires,” said Philippe Mellier, CEO of De Beers Group.

The new partnership with a major market player like De Beers will not only help ensure Synova’s long-term growth, it will also provide Synova with a unique opportunity to further improve market penetration of the LMJ technology in the diamond processing industry worldwide and to be close to the business,” said Dr. Bernold Richerzhagen, CEO of Synova.

Source Idexonline