Element Six Abrasives Acquires Manufacturing Plant in Ukraine

Element Six Abrasives has announced the acquisition of a majority of the shareholding of OJSC "Poltava Diamond Plant", a Ukrainian diamond synthesis plant which produces resin bond synthetic diamond. This plant complements the other major diamond synthesis locations of Element Six Abrasives in Sweden and South Africa, each of which has specialised in specific synthesis technology and product manufacture. A further specialised synthesis plant will be opened in China later this year.

The output from the Ukrainian plant will be supplied to the global processing and added value centre of Element Six Abrasives in Shannon, Ireland where the product will be adapted mainly for internal use in the processing of polycrystalline products. Output from all of the other Element Six synthesis plants follow a similar routing before they are supplied to global markets through the Element Six distribution network of companies.

Mr Christian Hultner, CEO of Element Six says: "This acquisition provides a strategic addition to the Element Six Abrasives™ capability in synthetic diamond grit in a low cost environment and further illustrates our commitment to the industrial diamond industry. We look forward with enthusiasm to working closely with our new Ukrainian colleagues who have demonstrated such commitment and competence to the development of their business in the past."

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