Scio Diamond Technology Corporation Appoints A New Chief Operating Officer

Oct 12, 2011, 08:30 ET from Scio Diamond

GREER, SC, Oct. 12, 2011 /PRNewswire/ - (OTCBB: SCIO) SCIO DIAMOND TECHNOLOGY CORPORATION is pleased to report that the company has appointed a new COO. Mr. Michael McMahon has been appointed new COO of Scio Diamond Technology Corporation.

Michael W. McMahon joins Scio as COO, with 35 years of executive experience in operations and business development of fortune 100 companies such as Fluor and Jacobs, Dupont, GE, Federal Express, Boeing, Coors, Frito Lay, Fujitsu, AT&T, BASF, and B.F Goodrich. Throughout his career he has been responsible for over $19B of engineering, construction, startup and commissioning of facilities worldwide primarily serving clients in the high tech industry, DOE and DOD.  He has compiled a record of personal achievement in project turnarounds, business development, process controls & improvements, startups, joint ventures, mergers & acquisitions and profit improvement initiatives.  He recognizes issues vital to organizational success and then focuses his team on overcoming all obstacles to progress.  His management skills are complemented by a talent for translating creative thought into an actionable strategies and his ability to recognize, communicate and keep his teams focused on the core issues at hand.

He will report to the firm's chief executive officer, Mr.Joseph Lancia and will be based at the company's manufacturing facility and headquarters in Greer, SC.

In making the announcement, Mr. Joseph Lancia, CEO of Scio said: "We are very pleased to have Michael join the Management team at Scio. His responsibilities will include the execution of our corporate strategy by leveraging his extensive experience and deep industry knowledge to meet the present and future needs of Scio."

Michael comments, "I look forward to joining the Scio team. Scio's ability to manufacture diamonds to that meet the needs of the market and its portfolio of large advanced stage projects involving diamond use in technology is very exciting and I look forward to contributing to this goal."

About Scio Diamond Corporation is based in Greer, South Carolina. Scio Diamond employs a chemical deposition process to produce high-quality, single-crystal diamonds. Our diamond materials are grown in a controlled laboratory setting. As such, we refer to our laboratory grown diamonds as "lab-grown" diamonds.

Scio lab-grown diamonds have the identical chemical, physical and optical properties as any diamond found in the earth. Through our highly controlled manufacturing process we are able to produce very high-quality, high-purity, single-crystal colorless, near colorless and fancy colored diamond.  Our technology will permit us to produce lab-grown diamond in size, color, and quality combinations that are rare, if at all present in nature. Our diamonds are now being offered in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Forward-Looking Statements You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.

SOURCE Scio Diamond