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Lancia new CEO at Greer-based Scio Diamond

STAFF REPORTS
Published on Saturday, September 24, 2011

Joseph D. Lancia has been appointed new CEO of Greer-based Scio Diamond Technology Corporation.
Lancia brings over 20 years of executive leadership experience in high-growth, technology companies. Most recently he served for nine years as president and CEO of D&W Fine Pack, a manufacturer of disposable packaging products for the food industry with locations in California, Indiana, Nebraska, Texas and South Carolina. D&W was the entity resulting from the 2009 merger of Dispoz-o Products, Inc. (Dispozo-o) and two other companies. When Lancia assumed the CEO position at Dispoz-o in 2002, the company had 630 employees, revenues of $48 million and Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of  $6.9 million.
During the first six years of his tenure at Dispoz-o, Lancia oversaw organic growth to $106 million in revenues and $21.7 million in EBITDA with 570 employees. After the aforementioned merger, Lancia was retained as President and CEO of D&W and the company grew to $320 million in revenue with EBITDA in excess of $50 million.
“Scio Diamond has a wide-range of core assets that can be immediately commercialized and exposed to the wide-open demand for cultured diamonds in today’s market,” Lancia said.  “I will look to drive revenue growth in existing market opportunities, and build commercial success by leveraging our equipment and patented technology into a range of new service areas and markets worldwide.”
Scio Diamond Corporation is based in Greer and employs a chemical deposition process to produce high-quality, single-crystal diamonds. The diamond materials are grown in a controlled laboratory setting. As such, it’s referred to the company’s laboratory grown diamonds as "cultured" diamonds.
Scio cultured diamonds have the identical chemical, physical and optical properties as any diamond found in the earth. Through the company’s highly controlled manufacturing process it’s able to produce high-quality, high-purity, single-crystal colorless, near colorless and fancy colored diamond.  The company’s technology produces cultured diamond in size, color, and quality combinations that are rare, if at all present in nature. Scio’s cultured diamonds are being offered in limited quantities as jewelry and in the technology arena as the material operating system of the future.

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