Russian company Monocrystal, which was one of the world's leading producers of synthetic sapphires used in the production of missiles and drones among other applications, is declaring bankruptcy.
Source: The Moscow Times
Details: The manufacturer, which is part of the Energomera concern, notified creditors of its intention to file for bankruptcy with the Arbitration Court of Russia's Stavropol Krai.
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As recently as 2022, Monocrystal held a third of the global market for synthetic sapphires, which are used not only in the defence industry but also in the production of protective glass for smartphones and smartwatches.
