Swiss jewellery maker Golay Buchel Holding AG announced Sept/06, that it intends to sell its 50% stake in joint venture company Signity, to its joint venture partner D.Swarovski & Co. Signity markets & distributes both parties' production of machine cut cubic zirconia, synthetic stones & marcassites. "The influence of this sale on group earnings can, at this stage, not be determined with precision, as various parameters will only be known after the transaction." Golay Buchel said. "Nevertheless, the board of directors of Golay Buchel expects the book profit not to be less than CHF 30M," the company added. "The transaction leads Golay to withdraw from the production of synthetic stones with a consequent reduction of personnel," it added. An extraordinary shareholders meeting was scheduled for 31 October to vote on the transaction.
