On March 31, Ireland-based Element Six, the world's leading supplier of high quality superabrasives and industrial diamond materials, announced the acquisition of a majority interest in Poltava Diamond Plant, the largest producer of synthetic industrial diamond in Ukraine and the whole of the CIS.
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.
The E6 web site quoted the company’s CEO, Christian Hultner, as saying, “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.”
Poltava Diamond Plant was established in 1966, as the Soviet Union hit back in attempt to “catch up and surpass America,” after the US-based company General Electric had brought first artificial diamonds to market in 1957. In 1996, the plant was privatized and went public. PDP produces diamond powders and tools, and its product range includes nearly all synthetic diamond and superhard material tools known in the world’s practice, according to the PDP web site.
Element Six operates internationally with processing and manufacturing facilities in Ireland, Sweden, the Netherlands, South Africa and the United Kingdom, and has wholly owned Sales offices or independent Distribution offices in 16 countries.
