Russian President Vladimir Putin Visits Monocrystal’s Booth

On July 21, the Agency for Strategic Initiatives (ASI) held a Forum and an Innovation Exhibition at the VDNH (the Exhibition of Achievements of National Economy) in Moscow.  One of the largest expositions at the show was that of Monocrystal’s, which demonstrated sapphire epi-polished wafers for LEDs, sapphire screens for smartphones, and metallization pastes for solar cell manufacturing. The attendees and participants of the Forum were highly interested to see the world’s largest sapphire crystal, weighing 300 kg, which was displayed at Monocrystal’s booth. Monocrystal’s exposition was visited by Russian President Vladimir Putin, who talked about the special importance in developing export-oriented companies.  President Putin discussed the potential development of the global sapphire market with Monocrystal’s CEO, Oleg Kachalov.  President Putin was interested in Monocrystal’s growth plans and wished for its continued success.

Russian President Vladamir Putin (first left) and entourage visit Monocrystal's booth at Innovation Exhibition at the VDNH (the Exhibition of Achievements of National Economy) in Moscow. (Monocrystal/LEDinside)

Over the past 5 years Monocrystal increased its production of synthetic sapphire by 9 times, having invested more than 220 M USD into its capacities to ramp up manufacturing volume. The leading analytical agency, Yole Developpment, twice named Monocrystal the world’s largest sapphire manufacturer. According to the Agency’s data, currently Monocrystal’s share on the global market is 27%.

Monocrystal actively employs various mechanisms of governmental support for innovative manufacturing in Russia. For example, last spring Monocrystal was among 7 Russian companies which got access to the ‘Investment Elevator’ – a complex tool of financial and non-financial support for export-oriented businesses. In June the Russian national developmental bank, Vnesheconombank, signed a Cooperation Memorandum with Monocrystal. This document stipulates that the government-owned bank will invest into Monocrystal’s production capacities expansion. The Head of the Administration of the President of Russia awarded Monocrystal the title of “The Best Export Project”. Monocrystal was additionally included in top 8 investment programs for companies viewed as having national importance and got the Development Award from Vnesheconombank at the annual International Economic Forum in Saint Petersburg.  

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