Israeli diamond Portal Reports : Diamond Leader Lev Leviev Faces Turbulence

PRLog (Press Release) – Jun 30, 2008 – Agitation between the management and workers at the Lev Leviev Diamond (LLD) polishing factory in Windhoek, Namibia has caused the lay off of 80 employees who demanded the resignation of the company’s General Manager Mike Nesongano. The employees had accused him of using abusive language and favoring foreign employees, in addition to poor administration and unfair dismissals.

The workers now face a disciplinary hearing. The company has stated that the lay offs will not affect its diamond production.

In another development, the textile division of Leviev’s Africa Israel Company has been put up for sale for $400 million. The textile division, which includes brands such as Gottex Models and Zara, operates in the United States and Canada, as well as Israel. All together the division employs a staff of about 1,800 and its annual turnover comes to about $1.25 billion.
Analysts believe that the price tag for the division is quite high and the sale will not go through unless the company agrees to lower the price.