JTA NEWS
26 September 2016 - 23 Elul 5776 - כ"ג אלול ה' אלפים תשע"ו
JTA NEWS :
Business
HKJMA at International Diamond Week in Israel E-mail

A delegation of diamond buyers organised by the Hong Kong Jewellers Manufacturers’ Association (HKJMA) and led by the association’s Chairman, Adam Lau, attended the winter edition of the International Diamond Week in Israel, which was held on the trading floor of the Israel Diamond Exchange (IDE) from 14 to 18 February.

“We welcome the opportunity given to our members to take part in this unique diamond marketing platform,” said HKJMA President Lau. “Hong Kong’s jewellery-manufacturing business community has a long-standing relationship with Israel’s diamond industry and our members regularly trade with a myriad of Israel Diamond Exchange members, who are active in Hong Kong and exhibit at the various international trade shows held in Hong Kong,” he added.

“Adam Lau is a long-time friend of our industry and of Israel. I commend him for his efforts in bringing a sizable delegation of Hong Kong diamond buyers to our exchange and congratulate him on his initiative to open up new horizons to his membership,” stated IDE President Yoram Dvash. “Hong Kong is one of the most diverse and multifaceted diamond markets. While the Israel diamond trade’s position in Hong Kong is robust, I am confident that with the delegation’s visit we will be strengthening our successful and fruitful business relationship even further!,” he commented.

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Israeli Diamond Pavilion at Hong Kong international show E-mail

The Israeli Diamond Industry is preparing a major presence at HKTDC’s Hong Kong International Diamond, Gem & Pearl Show in March. The Israel Diamond Pavilion, organised by the Israel Diamond Institute Group of Companies (IDI), will host 93 companies.

There will also be 10 Israeli companies exhibiting in other locations throughout the show. Among the Israeli exhibitors will be six companies that are participating in the show for the first time.

The Israel Diamond Pavilion will once again be located in the Diamond Hall at the AsiaWorld-Expo. Within the pavilion, IDI will host a spacious lounge with refreshments throughout the day, and three “Find Your Diamond” terminals. This popular system enables buyers to search a computerised database of all goods offered by Israeli exhibitors at the show. It will be offered in both English and Chinese, and buyers will be now be able to access it on their smartphones as well.

The Israeli exhibitors will be presenting diamonds of all shapes, sizes and colours. Many of the exhibitors will also be showing specially designed pieces of diamond jewellery.

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Schnitzer elected Chairman of IDI E-mail

Shmuel Schnitzer, who recently completed his term as President of the Israel Diamond Exchange (IDE), has been elected as Chairman of the Israel Diamond Institute Group of Companies (IDI). He replaces Moti Ganz, who completed three terms as Chairman of IDI.

Schnitzer first served as President of IDE from 1998 to 2004, and was later granted the title of Honorary President of the exchange. He also served as President of the World Federation of Diamond Bourses from 2002 to 2006, and was later made Honorary President of the organisation. He also served a fourth term as IDE President from 2013 to 2015.

IDI is a non-profit, publicinterest company representing all institutions involved in the Israeli Diamond Industry. It works to advance and strengthen the Israeli industry as one of the world’s leading diamond centres, through marketing, technological innovation, rough diamond sourcing and the promotion of local manufacturing.

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Cataylst CEL Fund closes with excess of US$200 million E-mail

Catalyst CEL Fund announced in February that it had closed its fund with commitments in excess of US$200 million.

The Fund is the first dedicated Israel-China private equity fund, and was established in partnership with Catalyst Private Equity, a leading Israeli private equity firm, and China Everbright Ltd., a leading Hong Kong-based asset manager.

Catalyst co-founder and managing partner and Catalyst CEL Fund managing partner Yair Shamir jointly announced: “Our vision is to support the growth and establishment of innovative Israeli companies as global market leaders across a variety of industries. We provide an attractive alternative to Israeli entrepreneurs selling their businesses too early, and provide mature companies with the capital and support for creating larger global businesses including access to capital from China and the vast China market opportunity.”

Since the Fund’s first closing in April 2014, Catalyst CEL Fund has effected two successful investments, including a controlling stake in Lamina Technologies, an Israeli-founded, Swiss-based manufacturer of state-of-the-art, sub-micron, precision metal cutting tools. The Fund’s second investment into a cutting-edge 3D printing company was closed during the last week of January 2016.

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IAI sets ups first Chinese aircraft maintenance programme E-mail

In January, Israel Aerospace Industries Ltd (IAI) formed a joint venture with Chinese state-owned aircraft maintenance enterprise Lingyun (Yichang) Science and Technology Group Co. Ltd.

This joint venture in Hubei Province will be IAI’s first local Chinese maintenance, repair and overhaul (MRO) enterprise. It will expand civil maintenance services and cargo conversion, and lay the groundwork for additional business.

IAI is a world leader in the provision of maintenance services for aircraft, engines and components, including heavy maintenance, modifications, upgrades, conversions and development programmes.

Co-operation between the two companies has received strong support from the Chinese People’s Association for Friendship with Foreign Countries (CPAFFC), as well as from local municipal and provincial governments.

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