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Asian Granito India completes acquisition of Crystal Ceramics

12 Oct 2016 Evaluate

Asian Granito India (AGIL) has completed a major expansion at its step Subsidiary, 'Crystal Ceramics Industries (Crystal Ceramics)'. AGIL acquired Artistique Ceramic in FY 2015-16 through amalgamation scheme approved by Hon: Gujarat High Court, which holds 70% in Crystal Ceramics through Kediya Ceramics.

Acquisition of Crystal Ceramics was a strategic decision as along with the product range it also enjoyed a Natural Gas supply arrangement with ONGC which is significantly lower than the prevailing market price. With this, expansion production capacity of Crystal Ceramics has reached 27,000 square meters a day. The new plant will be making double charged vitrified tiles in the large format of 800 X 800 mm and 1000 X 1000 mm for Domestic as well Exports.

Asian Granito India is engaged in manufacturing of flooring solutions. It is one of the leading wall tile manufacturers in India. The company manufactures products such as wall tiles, vitrified tiles, ceramic floor tiles, marble and quartz stone and Aquart.

Asian Granito India Share Price

53.79 1.83 (3.52%)
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