IsDMA's Kobi Korn On Israel's Diamond Manufacturing Sector

Manufacturing
09/09/2015 10:46

Rough&Polished recently interviewed Israel Diamond Manufacturers Association (IsDMA) president Kobi Korn about the new manufacturing center close to the diamond exchange in Ramat Gan and the current situation in the diamond industry in general. A key takeaway from the discussion: "This year has not been easy, and that followed a difficult 2014. The situation is very quiet globally with buyers only placing orders for their specific requirements. There is clearly a slowdown around the world in the diamond sector that we are all feeling due to the financing problem and reduction in credit. The economic situation is not so clear around the world. The Chinese economy is not growing as fast and the stock market has lost a lot of value for investors so they have lost money which is not good for us." IsDMA brings together a wide range of diamond manufacturers representing approx. 95% of the country’s overall polished production.