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| Thursday, 28 October 2004 |
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BOI signs agreement with leading Swiss watch manufacturer The BOI signed an agreement recently with renowned Swiss watch manufacturer Pascal Vincent Vaucher SA for the cutting, polishing and setting of diamonds and gems in gold, silver and platinum watches, which will be imported to the high end Swiss markets. S. K. Amarasena, Director of Swiss Cut and Design (Pvt.) Ltd, the new BOI company, said that the project will initially employ about 50 skilled staff who will be trained in the latest technologies of stone setting and gem calibration. He said that the company's investors from France and Switzerland, selected Sri Lanka due to the availability of highly skilled labour in the gem and jewellery industry. "The local company will be involved in the cutting, polishing and setting of the precious stones in the watches manufactured by Pascal Vincent, Switzerland. These precious stones include Belgian diamonds, Sri Lankan blue sapphires, ruby sapphires from Thailand and Brazilian emeralds," Amarasena said. These watches which will be supplied to many leading brand names in Switzerland will retail from about US $ 50,000 - 100,000. " We are initially targeting a production capacity of about five watches per day, and have plans to supply to about 20% of the high end Swiss market, within a year of operation," Amarasena said. |
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