Sarine Joins Race to Buy HRD Antwerp

RAPAPORT... Sarine Technologies has entered the running to acquire HRDAntwerp, according to two sources close to the sale process. The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous heads of HRD, the two anonymous sources told Rapaport News. Peter Meeus, who ran the organization between 1999 and 2005, was one of the first candidates be linked to a potential bid around a month ago. He is now joined by Serge Couvreur, who served asHRD's general manager from 2013 to 2014, as well as by Sarine. The International Gemological Institute (IGI) also entereda bid earlier this year, as reported by Rapaport News in early November, but has since pulledout, the sources confirmed. The situation is changing constantly, another source pointed out. Sarine's move could be seen as part of its increased focus on grading and other downstream activities. While its main business is providing diamond-mappingequipment to manufacturers, the polished-gradingsector offers considerable revenue opportunities and margins, Sarine noted last month. Potential buyers of HRD have until next Tuesday to submit afinal bid with a proposed price, one of the sources added.HRD and the Antwerp World Diamond Centre, which owns the lab, declined tocomment, as did the three bidders and IGI.Image: Polished diamonds. (HRD Antwerp)