GIA to Close Antwerp Lab
June 12, 22
(IDEX Online) - GIA is to close its Antwerp grading lab, saying it is no longer economically viable.
It will stop taking submissions on 1 July and cease trading altogether on 31 July.
GIA indicated back in August 2020 that it could close or scale down the Antwerp operation. The Covid pandemic added to its woes, on top of a shift to manufacturing in India and banks' reluctance to lend.
Belgium's diamond industry has struggled in recent years amid a shift in manufacturing work to India and a reduction in bank lending to the sector.
"This is an operational decision based on the limited demand for services and financial performance that did not support continued operations," said GIA (Gemological Institute of America) this week.
Customers will still be able to ship submissions to other GIA laboratories using Malca-Amit's shipping services.