Julius Klein opens factory in Namibia

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Julius Klein opens factory in Namibia

March 18, 2008

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Windhoek, Namibia—New York-based Diamond Trading Co. (DTC) sightholder The Julius Klein Group (JKG) recently celebrated the opening of a diamond factory in the African nation of Namibia.

The factory, which JKG operates in conjunction with its Namibian partner the Dinamo Group as JKD Namibia (Pty.) Ltd., officially opened on March 12 and includes corporate offices as well as a new diamond manufacturing facility.

It is JKG's second facility in southern Africa; JKG also operates a factory in Johannesburg.

The facility involved a more than $4 million investment and will employ more than 125 staff members at full operation.

"With this new venture, we bring with us the same traditions and values upon which Julius Klein Diamonds was built: integrity, trust, dedication and pride in craftsmanship," JKG President A.D. Klein said in a media release. "We are fully committed to instilling these same values throughout everything we do today and always at JKD Namibia."

Since its incorporation in June 2007, JKD Namibia "has committed to embracing beneficiation" by recruiting Namibian citizens and training them in diamond cutting and polishing.

Shihaleni Ndjaba, chief executive officer of the Namibia Diamond Trading Co. (NDTC), said, "The entry of JKD Namibia to the Namibian diamond manufacturing industry marks an important milestone in the local beneficiation process. The commitment shown by The Julius Klein Group and their Namibian partners, The Dinamo Group, is highly commendable, and the NDTC is looking forward to working in partnership with JKD Namibia in creating a sustainable manufacturing industry in Namibia."

JKG has been a DTC sightholder since 1990, and JKD Namibia is one of 11 NDTC sightholders selected in October 2007.

JKD Namibia will receive rough supply from the NDTC until 2011, when it will have the chance to renew its sightholder status.

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