print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all ALROSA press releases

ALROSA

December 21, 2004

ALROSA has offered commitments to the EU Commission regarding supplies to De Beers

20 December 2004- ALROSA Company Limited has offered to the European Commission a number of commitments regarding supplies of rough diamonds by ALROSA to De Beers.    ALROSA expects that the proposed commitments will be accepted by the Commissionin early 2005. In the meantime, ALROSA continues to supply De Beers on a 'willing buyer, willing seller' basis.

ALROSA has been supplying De Beers with rough diamonds for nearly 50 years. In 2002, after a Trade Agreement with De Beers was signed, ALROSA notified the Agreement to the Commission.  The Commission raised concerns and the parties started discussions with the Commission regarding the impact of the EU competition law in order to reach a settlement. 

As a result of these discussions, it was clear that the settlement should involve a phase-down of supplies over 6 years to an acceptable level given De Beers' world diamond market share.  After the expiration of this 6-year term, supplies will be permitted to continue at a fixed level indefinitely thereafter.

The proposed settlement will protect ALROSA's commercial interests while it continues to implement its new strategy to develop its own distribution network and to increase sales to the world market, in accordance with the declared policy of liberalising Russian legislation governing the Russian diamond industry. It is expected that the proposed  settlement will represent a 'win-win' result for everyone concerned.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer