QualityStocks would like to highlight Scio Diamond Technology Corporation (OTCBB: SCIOE), a development stage company focused on developing and producing lab-grown or cultured diamonds. The company intends to produce single-crystal colorless and near colorless cultured diamonds of D-H color and IF-SI clarities, as well as fancy-color diamonds, including pink, cognac, and blue cultured diamonds. The company would offer its products to jewelry, as well as for use in high tech applications, alternative energy technologies, and defense technologies. Scio Diamond Technology Corporation is based in Greenville, South Carolina.
In the company’s news yesterday,
Scio Diamond reported appointment of 30-year veteran business leader/manager, Bern McPheely, to the company’s Board of Directors as a non-executive member.
Fast on the heels of the recent (July 31) milestone of producing over 1k carats of their CVD (chemical vapor deposition) single-crystal diamond and the initiation of shipment to customers, this appointment looks to catalyze the company’s forward momentum by bringing a heavy-hitter with broad international business experience to the Board’s lineup. McPheely has been a driving force for over three decades at packaging equipment and packaging solutions developer, Hartness International, who is located not too far from Scio’s own state-of-the-art production facility in Greenville, SC.
From a mere startup through to the eventual acquisition by Illinois Tool Works (ITW) in 2009, McPheely has been there to provide the kind of leadership excellence that saw Hartness turn quarterly profits, every quarter since 1982. In fact, it was McPheely who negotiated the ITW deal and carefully oversaw the successful transition of the company from a private, family-owned business, to a full public company.
McPheely was honored by widely-read industry publication Start Magazine as a top ten “CEO Visionary Who Ignites Technology,” briefing Presidents and cabinet ministers on the state of the US business environment well before many of today’s top players were even on their feet. McPheely is a former (2000-2002) chairman of the leading global resource for packaging and processing, PMMI (a trade association with nearly 600 member companies representing billions of dollars in annual sales), and has even worked directly with the U.S. Department of Commerce.
President and CEO of SCIOE, Joseph Lancia, welcomed McPheely to the team with open arms and threw a spotlight on his distinguished track record of success, confident that he possesses the proper mix of experience in international business and developing prosperous companies. McPheely’s demonstrated capability for spearheading immediate, as well as long-term strategic planning requirements (Bern handled four major company-wide product/market strategy transitions along the way at Hartness), will prove indispensible as things start to heat up at Scio, as the company’s diamond reactors are now putting out the kind of volume that will really get people talking. Scio is clearly pleased that McPheely took the appointment and he will be just the shot in the arm that the company needs to break through to the next level operationally.
McPheely is a graduate of The Thunderbird Graduate School of International Management and got his undergrad degree at Albion College, MI.
Scio Diamond’s incredible production technology is certainly turning heads in investment circles. With a method for growing high-end, high-margin pink diamonds, it is no wonder so many are taking a closer look at this growing SC-based company.
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