{"id":1073,"date":"2023-05-10T19:12:58","date_gmt":"2023-05-10T19:12:58","guid":{"rendered":"https:\/\/www.gcalusa.com\/blog\/?p=1073"},"modified":"2024-01-31T02:09:20","modified_gmt":"2024-01-31T02:09:20","slug":"gcal-sarine-partnership-completed","status":"publish","type":"post","link":"https:\/\/www.gcalusa.com\/blog\/gcal-sarine-partnership-completed\/","title":{"rendered":"Merger of GCAL into the Sarine Group Completed"},"content":{"rendered":"\n
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Synergies between GCAL\u2019s quality processes and Sarine\u2019s advanced technologies and installed base create significant growth opportunitiesin U.S. and worldwide<\/h4>\n\n\n\n

Hod Hasharon (Israel), 10 May 2023<\/strong> \u2013 Singapore Exchange Mainboard (SGX) and Tel-Aviv (TASE) listed Sarine Technologies Ltd. (\u201cSarine\u201d<\/strong> and along with its subsidiaries \u201cthe Group\u201d<\/strong>) (U77:SI<\/strong>; SARN.TA<\/strong>), a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, is pleased to announce the closing of the acquisition agreement between Sarine and the Gem Certification & Assurance Lab, Inc (GCAL).<\/p>\n\n\n\n

The merger creates a robust synergy between Sarine\u2019s leading technologies, and in particular its revolutionary AI-derived cloud-based on-site e-Grading\u2122 system and verifiable data based Sarine Journey\u2122 traceability paradigm, and GCAL\u2019s strong brand in the US market and uncompromising quality control, backed by its industry-unique, consumer money-backed guarantee. The new merged entity, GCAL USA LLC, will be part of the Sarine group but will continue to be led and managed by GCAL\u2019s experienced management team, which will retain a significant interest in the company as part of the deal. <\/p>\n\n\n\n

GCAL’s existing customers will\ncontinue to receive GCAL\u2019s grading and certification services uninterrupted. In\naddition, U.S. (and worldwide) customers will be able to receive their guaranteed\nGCAL grading certificates not only for polished diamonds graded in the U.S. for\nspecific programs, but also for the many diamonds processed through Sarine’s growing\ninstalled base of grading systems  in the\nvarious manufacturing hubs, that will enable \ngrading and sorting on-site at a fraction of the time and without the\nindirect costs of sending to a third party external gem lab, along with\noptional verifiable traceability data.<\/p>\n\n\n\n

David Block Sarine\u2019s CEO\ncommented, \u201cI am thrilled by the opportunities created by this merger. First\nand foremost, because we have found a partner that shares our values \u2014 quality,\nconsistency, reliability, transparency and customer centricity. Secondly, I\ntruly believe that the merger will provide the U.S. and other markets a much-needed\nsolution to their pressing concerns for fast, accurate, consistent and efficient\ngrading, along with optional provenance data, critical in these times of geopolitical\nunrest. I have absolute confidence in GCAL\u2019s founders’ commitment to these\ncommon principles, whom I welcome into the Sarine family, and in the leadership\nthey will continue to provide to our joint endeavor in the years to come. <\/p>\n\n\n\n

Angelo Palmieri, President of GCAL USA said, \u201cThis\nmerger is exciting for all of us. I strongly believe that it will allow us not\nonly to continue the impressive growth we have experienced over the past few years,\nbut also to significantly expand it. Upholding our core values while expanding\nGCAL is our primary condition for global growth. By leveraging Sarine’s\nadvanced AI grading technology, we can extend our grading services worldwide\nwhile preserving the accuracy and precision our customers have come to depend\non..  Alongside Don and Pam, who\nestablished our laboratory over two decades ago, we are eager to advance our\nmission, as an integral part of the Sarine group.<\/p>\n\n\n\n

Don Palmieri, Founding Partner of GCAL USA, along with\nwife Pam, added: \u201cThis is an emotional moment for us. This merger will support our\ncrusade of many decades to insist on issuing highly reliable quality certificates,\nwhich protect our industry, and most importantly, the consumer. We are excited\nby this opportunity to join forces with Sarine, which has developed a\ntechnological solution that enables bringing our stringent quality guarantee to\na broader market on an expansive scale.<\/p>\n\n\n\n

About Sarine Technologies:<\/strong>\n\nEstablished in 1988, Sarine Technologies Ltd. is a worldwide leader in\nthe development and manufacturing of advanced modeling, analysis, evaluation,\nplanning, processing, finishing, grading and trading systems for diamonds.\nSarine products include the Galaxy\u00ae family of inclusion and tension mapping\nsystems, rough diamond planning and optimisation technologies, laser cutting\nand shaping tools, laser-marking, inscription and fingerprinting equipment,\nautomated (AI-derived) Clarity, Color, Cut and light performance grading\nsystems and traceability, visualisation and retailing services. Sarine systems\nhave become standard tools in every modern manufacturing plant, properly\nequipped gemology lab and diamond appraisal business, and are essential aids\nfor diamond polishers, dealers and retailers. For more information about Sarine\nand its products and services, visit http:\/\/www.sarine.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Synergies between GCAL\u2019s quality processes and Sarine\u2019s advanced technologies and installed base create significant growth opportunitiesin U.S. and worldwide Hod Hasharon (Israel), 10 May 2023 \u2013 Singapore<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,12,15],"tags":[],"class_list":["post-1073","post","type-post","status-publish","format-standard","hentry","category-diamond","category-newsletter","category-press-release"],"_links":{"self":[{"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/posts\/1073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/comments?post=1073"}],"version-history":[{"count":6,"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/posts\/1073\/revisions"}],"predecessor-version":[{"id":1367,"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/posts\/1073\/revisions\/1367"}],"wp:attachment":[{"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/media?parent=1073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/categories?post=1073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcalusa.com\/blog\/wp-json\/wp\/v2\/tags?post=1073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}