Altınbaş begins exporting branded diamond products
Posted by meb at June 3rd, 2008
The chairman of a leading Turkish jewelry manufacturer said on Monday that Turkey has begun exporting branded diamond products to the world.
In an interview with the Anatolia news agency, İmam Altınbaş, the chairman of the Altınbaş Holding, said that Turkey was ranked second in the world in terms of its exports of gold products, which have reached $4 billion annually. He said Italy currently holds first place in the ranking.
“Turkish gold work can rise to first place in world rankings, and its exports in this sector could reach $10 billion over the next five years,” Altınbaş said. Turkey had only exported minimally worked gold products until recently, Altınbaş said. “Recently the country has started to export diamond products worth between $15,000 and $20,000, with some even reaching $100,000.”
Altınbaş said the beginning of the exporting of branded diamond products by Turkey was a remarkable development. He said this could quickly carry the country to the top place in world jewelry rankings. According to him, Turkey’s gold processing began in small workshops with five or six employees but has now become industrialized and moved into factories that can employ up to 1,000 employees.
Sharp fluctuations in gold prices cause volatility in simple gold processing while the market for highly processed products is more stable and promising, Altınbaş said.
Altınbaş Holding, which was created in the 1950s, consists of 30 companies operating in the fields of energy, finance, jewelry, transportation and construction with its 3,500 employees.
Altınbaş Jewelry, a part of the holding, represents the Turkish jewelry sector in more than 35 countries such as the US, Germany, Russia, Bulgaria and Romania.
source: Today’s Zaman
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