Element Six Acquires Manufacturing Plant in Ukraine

Element Six Acquires Manufacturing Plant in Ukraine

April 03, 2006

    SHANNON, Ireland, April 3 /Xinhua-PRNewswire/ --
Element Six Abrasives announced today the acquisition of a
majority of the shareholding of OJSC "Poltava Diamond
Plant", a Ukrainian diamond synthesis plant which
produces resin bond synthetic diamond.  This plant
complements the other major diamond synthesis locations of
Element Six Abrasives in Sweden and South Africa, each of
which has specialised in specific synthesis technology and
product manufacture. A further specialised synthesis plant
will be opened in China later this year.

    The output from the Ukrainian plant will be supplied to
the global processing and added value centre of Element Six
Abrasives in Shannon, Ireland where the product will be
adapted mainly for internal use in the processing of
polycrystalline products. Output from all of the other
Element Six synthesis plants follow a similar routing
before they are supplied to global markets through the
Element Six distribution network of companies.

    Mr Christian Hultner, CEO of Element Six says:
"This acquisition provides a strategic addition to the
Element Six Abrasives' capability in synthetic diamond grit
in a low cost environment and further illustrates our
commitment to the industrial diamond industry.  We look
forward with enthusiasm to working closely with our new
Ukrainian colleagues who have demonstrated such commitment
and competence to the development of their business in the
past."

    About Element Six Abrasives

    Element Six is the world's leading supplier of high
quality industrial diamond and the complementary cubic
boron nitride (cBN) abrasive materials. These materials are
available both in their single crystal and polycrystalline
forms, for abrasive and non-abrasive industrial uses.  The
Element Six Abrasives group of companies operates
internationally with processing and manufacturing
facilities in Ireland, Sweden, South Africa and Wales.

    About OJSC "Poltava Diamond Plant"

    Poltava Diamond Plant was established in 1966 as the
largest and most important enterprise for industrial
diamond in the USSR.  In 1996 the company was privatised by
the Ukrainian State Property Fund and reorganised as an open
joint stock company. Today it is the largest producer of
synthetic industrial diamond in the Ukraine and the whole
of the CIS.

    For further information, please contact: 

     Andreas Anker, 
     Senior Manager Group Communications, 
     Element Six Ltd, Shannon, 
     Co Clare, IRELAND
     Tel:  [phone]

SOURCE  Element Six