ALROSA has signed a long-term agreement on the supply of rough diamonds to Rosy Blue. The signing ceremony took place on 19 December in Moscow. On behalf of ALROSA the document was signed by the company's CEO Fyodor Andreev, while Dilip Mehta, Director of Rosy Blue, signed it for Rosy Blue.
"Rosy Blue is one of the major customers of ALROSA on a long-term basis. The signing of a new agreement continues our partnership. For ALROSA it is a priority to enter into direct long-term contracts with major companies involved in the manufacturing of final products - polished diamonds and jewelry. Such agreements guarantee stable sales volume to us, as a producer, and guarantee stable rough diamond supply to a customer", Fyodor Andreev said during the ceremony.
"We are delighted to enter into the extension of our partnership with such a reliable diamond supplier as ALROSA. Close and continuous dialogue with ALROSA has enabled us to navigate through past month of difficult market conditions", Dilip Mehta said. Rosy Blue, established in 1973, specializes in rough and polished diamond trading, diamond cutting and jewellery manufacturing. It has its own diamond cutting facilities located in India, Thailand, Israel, Belgium and Sri Lanka, and 3 jewellery manufacturing facilities. The company's revenue exceeded $2 billion in 2011. Rosy Blue is also DTC sightholder.
Rosy Blue has been ALROSA long-term client since 2010, participated in ALROSA international auctions as well.
The significant part of the three-year term contracts expires in 2012. Now ALROSA is busy updating the list of long term customers.