In September, Metech had announced the establishment of AET, its joint venture company with X Diamond Capital, to carry out the business of manufacturing and distribution of lab-grown diamonds. Under the joint venture, Metech shall operate and manage AET while X Diamond Capital shall provide technical support.
See also: Metech International forms lab-grown diamond joint venture
“Lucinu Jewellery has built up strong capabilities in working with lab-grown diamonds and we are pleased to supply them in the near future with the highest grade of lab-grown diamonds that are used in jewellery production,” says Samantha Hua, deputy CEO and executive director of Metech.
“This will be a testament to our manufacturing capabilities in this highly specialised area of lab-grown diamonds and we look forward to expand our business presence in other geographical markets,” she adds.
Shares in Metech closed up 0.5 cents or 2.17% higher at 23.5 cents on Oct 7.
