HB Antwerp Buys Sightholder’s Cutting Factory

 

HB Antwerp has acquired the manufacturing facility of Belgian large-stone specialist AMC Diamonds, gaining 13 employees alongside the company’s machinery and technology.

“With this acquisition, HB Antwerp confirms its ambition to bring the diamond-polishing process back to Antwerp in its entirety by combining the typical Antwerp savoir faire with the latest techniques in the field of laser technology, blockchain and [artificial intelligence],” a spokesperson for HB said.

Two-thirds of HB’s workforce now comprises technicians such as diamond polishers, software engineers and mechanical engineers, the company explained. It plans to carry out more recruitment in the coming months, HB added.

AMC, a De Beers sightholder, will maintain this status, and still has manufacturing facilities, a spokesperson for the company noted.

HB, which diamantaire Oded Mansori cofounded, partnered with Louis Vuitton earlier this year to buy the 1,758-carat Sewelô diamond from Lucara Diamond Corp. It also agreed to purchase all of Lucara’s rough over 10.8 carats through the end of 2020.

It since hired Boaz Lev from Malca-Amit as operations director and one of its managing partners, and hired former Antwerp World Diamond Centre spokesperson Margaux Donckier as director of communications and external affairs.

Source: DCLA

HB Antwerp Buys Sightholder’s Cutting Factory

 

HB Antwerp has acquired the manufacturing facility of Belgian large-stone specialist AMC Diamonds, gaining 13 employees alongside the company’s machinery and technology.

“With this acquisition, HB Antwerp confirms its ambition to bring the diamond-polishing process back to Antwerp in its entirety by combining the typical Antwerp savoir faire with the latest techniques in the field of laser technology, blockchain and [artificial intelligence],” a spokesperson for HB said.

Two-thirds of HB’s workforce now comprises technicians such as diamond polishers, software engineers and mechanical engineers, the company explained. It plans to carry out more recruitment in the coming months, HB added.

AMC, a De Beers sightholder, will maintain this status, and still has manufacturing facilities, a spokesperson for the company noted.

HB, which diamantaire Oded Mansori cofounded, partnered with Louis Vuitton earlier this year to buy the 1,758-carat Sewelô diamond from Lucara Diamond Corp. It also agreed to purchase all of Lucara’s rough over 10.8 carats through the end of 2020.

It since hired Boaz Lev from Malca-Amit as operations director and one of its managing partners, and hired former Antwerp World Diamond Centre spokesperson Margaux Donckier as director of communications and external affairs.

Source: DCLA

India Extends Deadline for Duty-Free Reimports

The Indian government has granted diamond companies extra time to ship polished goods back to the country without incurring customs duty.

At present, reimports are subject to the 7.5% levy once the diamonds have been outside India for three months. The Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline by a further three months for all parcels for which the cutoff date was previously between February 1 and July 31, it said Friday.

The country’s Gem & Jewellery Export Promotion Council (GJEPC) had been lobbying for the change after the Covid-19 pandemic delayed the return of goods companies had sent overseas for grading and other services.

“The latest notification on the extension of three months on reimport of certified diamonds is a great respite for our exporters,” said GJEPC chairman Colin Shah.

Last week, the council urged the government to reduce customs duty on polished to 2.5%, arguing that the move would boost India’s status as a hub for trading and distribution of diamonds.

Source: DCLA

India Extends Deadline for Duty-Free Reimports

The Indian government has granted diamond companies extra time to ship polished goods back to the country without incurring customs duty.

At present, reimports are subject to the 7.5% levy once the diamonds have been outside India for three months. The Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline by a further three months for all parcels for which the cutoff date was previously between February 1 and July 31, it said Friday.

The country’s Gem & Jewellery Export Promotion Council (GJEPC) had been lobbying for the change after the Covid-19 pandemic delayed the return of goods companies had sent overseas for grading and other services.

“The latest notification on the extension of three months on reimport of certified diamonds is a great respite for our exporters,” said GJEPC chairman Colin Shah.

Last week, the council urged the government to reduce customs duty on polished to 2.5%, arguing that the move would boost India’s status as a hub for trading and distribution of diamonds.

Source: DCLA