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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  ALROSA    ALRS   RU0007252813

ALROSA

(ALRS)
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ALROSA : to combine its cutting and polishing facilities into single production framework

10/22/2020 | 05:00am EST
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Moscow, 22 October 2020 - ALROSA has begun delivering on its plan to create a single production framework encompassing all of its cutting and polishing facilities. Dmitry Amelkin, who was appointed Transformation Director of the Polishing Division this spring, will be in charge of this major project. In Smolensk, he will also take the helm at the Company's largest diamond polishing factory, Kristall, to ensure the smooth transition.

As of today, ALROSA has a number of cutting and polishing assets in Moscow's DIAMONDS ALROSA, Barnaul's Diamonds ALROSA LLC, and Smolensk's Kristall Production Corporation. Together, they account for more than a half of diamond cutting and polishing in Russia.

The integration plan is based on the strategy for the development of ALROSA's cutting and polishing complex, which was approved by the Company's Supervisory Board in late 2019, and seeks better rough diamonds allocation along with streamlined production processes. In 2021, the three facilities are expected to form a single organisational and legal structure. The goals are twofold: first, to make sure that diamond output is allocated more efficiently among the sites, and second, to facilitate the sharing of practices. In addition, the facilities are going to provide backup to each other in case the epidemiological situation in one of the regions gets worse.

'Our current priority is integrating all our cutting and polishing facilities into a single production framework. Dmitry Amelkin, who was appointed Transformation Director of ALROSA's Polishing Division in the spring of this year, will lead the integration process. We also believe it makes sense to have Mr Amelkin concurrently work as head of Kristall, our largest polishing facility, since it is Kristall that our united production will be centred around. In this capacity, he has taken over from Murad Chaparov, who decided to leave the company after his contract expired on 14 October,' said Sergey Ivanov, ALROSA's CEO.

He also thanked the former head of Kristall for his contribution to the company. 'This year has been extremely challenging for the entire diamond industry, and all the more so for cutters. Smolensk's Kristall is no exception. From early April till mid-August, almost all the factory employees had forced downtime resulting from the COVID-19 outbreak. However, despite the apparent difficulties, the company kept testing new approaches to diamond processing and advanced equipment, while also working to strengthen its operational excellence. And surely, much credit for that is due to Mr Chaparov,' said ALROSA's CEO.

Reference
Dmitry Amelkin was born in 1983. In 2004, he graduated from the Moscow State Institute of International Relations (University) of the Russian Ministry of Foreign Affairs with a degree in Banking and Finance. After graduation, he worked at PriceWaterhouseCoopers. Then he headed the Strategic Development Department at the Ingosstrakh insurance company, and later at SOGAZ. Prior to joining ALROSA, he was responsible for project management in agencies of Sberbank. He became a head of ALROSA Strategic Projects and Analytics Center (SPAC) in 2017, and he was also appointed as a Transformation Director of ALROSA Polishing Division in March 2020.

This page was last updated on 22 October 2020 at 11.57
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ALROSA PJSC published this content on 22 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2020 08:59:05 UTC


© Publicnow 2020
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