Russia's Alrosa seeks long-term supply contract with Tiffany's |
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Published
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Fri, 19 Oct 2007 10:14
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MOSCOW (Thomson Financial) - Russia's Alrosa Co Ltd diamond miner is in talks to enter into a long-term supply agreement with US jeweller Tiffany & Co, company president Sergey Vybornov told Vedomosti.'I hope that the contract is ready before the end of the year,' Vybornov told the Russian business daily.Alrosa already supplies uncut diamonds to the jeweller, but the two companies do not have a long-term agreement.Vybornov said he wants to sign 3-5 year agreements with Tiffany's and other major diamond retailers.A Tiffany's spokesman told Vedomosti that Alrosa is a valued supplier and added that his company also wants to establish solid, long-term business relations.He declined to provide any more details on possible agreements between the two companies.Alrosa is seeking new partnerships as it winds down sales to De Beers SA, which were the subject of an extensive investigation from the European Commission as well as a series of court rulings currently under appeal.Alrosa is Russia's largest diamond miner. Its 2006 annual sales totaled 94.340 bln roubles.alfred.kueppers@thomson.comamk/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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