Marudhar Rocks International completed the acquisition of the engineered stone business of ASI Industries for $30m.

Marudhar Rocks International, a manufacturer of granites, completed the acquisition of acquire the engineered stone business of ASI Industries, a stone mining services provider, for $30m. “The transaction was a bittersweet one for ASI as a Company. While we were fully focused on developing the Engineered Stone Division as the next segment of growth, the conclusive benefits from the transaction were reason enough to enter into an agreement with Marudhar Rocks. The transaction helps us pare down our debts and become a zero-debt company in the near future. Going forward, we are committed to building on our Kotah stone business, and should there be an opportunity to move into some adjacencies, we will keep the investors informed,” Deepak Jatia, ASI CMD.