Shutdown for 15,000 Diamond Workers after Boss Suffers Stroke

Maruti Impex, described as one of the world’s biggest manufacturers of small natural diamonds, is halting operations, and has advised its 15,000 workers to seek employment elsewhere.

The company’s founder, Suresh Lakhani, aged 45, suffered a stroke three months ago and remains in a coma.

He’s been the driving force behind the business, which he launched in 1995 when he was just 16 years old. He is said to be the sole decision maker.

The future of Maruti Impex, which operates over 100 units, directly and indirectly, in Surat, Bhavnagar, Amreli, and Junagadh, is now uncertain.

Staff were informed of the closure by audio message, just as diamond units re-open after the Diwali break.

They received salaries up to the holiday, but have been told it’s not clear when operations could resume. The company made mention of “three or four months”.

Family members stepped in short term following Lakhani’s stroke, but have reportedly decided to pause operations because of weak market conditions.

Times of India quotes Dinesh Navadiya, chairman of the Indian Diamond Institute, as saying: “Without his (Lakhani’s) leadership and given the current challenging market conditions, the management is unable to continue operations.”

Lakhani describes himself on LinkedIn as a “self-made entrepreneur and philanthropist who has built a successful global business – “Maruti Impex” from scratch. Maruti Impex is one of the largest companies in the world in cut and polished diamonds.”

Source: DCLA

Synova’s Automated Cutter to Tackle Fancy Shapes

 

Swiss technology provider Synova has expanded its automated diamond-cutting system to include fancy shapes, it said Monday. 

The company, which is part-owned by De Beers, unveiled the DaVinci Diamond Factory last year at the Dubai Diamond Conference. Synova claims the machine will significantly speed up diamond manufacturing from weeks to hours, improve accuracy and symmetry, and reduce costs. However, the version it initially launched could only cut round-brilliant diamonds with up to 57 facets.

“The pandemic restrictions had us more or less blocked from selling in the first half, so instead of sitting here and doing nothing, we developed the machine and made it market-ready,” Joerg Pausch, head of the diamond business at Synova, told Rapaport News. “We developed software add-ons that will allow for cutting of automated fancy shapes. After the first announcement, people were calling us asking if it can do fancy shapes, and that has actually become our strongest request from the market.”

Synova’s initial testing of the automated fancy shapes has shown “very promising results,” it noted. The technology provider will release the new software early next year.

The company has already received a number of orders for the DaVinci from Europe, South Africa and North America, Pausch noted. It also intends to develop the machines to include more automation, he added.

Source: DCLA

Synova’s Automated Cutter to Tackle Fancy Shapes

 

Swiss technology provider Synova has expanded its automated diamond-cutting system to include fancy shapes, it said Monday. 

The company, which is part-owned by De Beers, unveiled the DaVinci Diamond Factory last year at the Dubai Diamond Conference. Synova claims the machine will significantly speed up diamond manufacturing from weeks to hours, improve accuracy and symmetry, and reduce costs. However, the version it initially launched could only cut round-brilliant diamonds with up to 57 facets.

“The pandemic restrictions had us more or less blocked from selling in the first half, so instead of sitting here and doing nothing, we developed the machine and made it market-ready,” Joerg Pausch, head of the diamond business at Synova, told Rapaport News. “We developed software add-ons that will allow for cutting of automated fancy shapes. After the first announcement, people were calling us asking if it can do fancy shapes, and that has actually become our strongest request from the market.”

Synova’s initial testing of the automated fancy shapes has shown “very promising results,” it noted. The technology provider will release the new software early next year.

The company has already received a number of orders for the DaVinci from Europe, South Africa and North America, Pausch noted. It also intends to develop the machines to include more automation, he added.

Source: DCLA