Monocrystal, specializing in synthetic sapphire growing and processing, announces its results for 2017 and plans for 2018.

(Image: Monocrystal)

2017 was another year of sustainable growth for Monocrystal. The Company delivered 55 million two-inch equivalent sapphire products to the LED market. According to a latest report, the market value of sapphire for LED production reached 110 million TIE, which corresponds to Monocrystal’s share of 50% in this segment.

“2017 was a year of rapid growth for the LED industry, and most of our clients significantly expanded their production. Monocrystal successfully accomplished a challenging 70% capacity increase and provided all the requested volume to its customers. This contributes to a secure execution of our customers’ expansion plans, which is crucial for obtaining leading positions on the highly competitive LED market,” Monocrystal’s CEO Oleg Kachalov commented.

“This year we will continue to build upon the momentum in the LED industry. For this purpose, we are planning to add 50% to our capacities. With the top-class products at our disposal, we are ready to help our customers meet their ambitious targets in 2018 in a smooth and efficient manner,” Monocrystal’s VP Sales Mikhail Berest added.