Press Trust of India / New Delhi Aug 27, 2009, 18:23 IST
Energy solutions provider Thermax today announced its joint venture with US-based infrastructure firm SPX Corporation.
Thermax will have have 51 per cent stake in the joint venture while the rest would be with SPX, a company statement said, adding that the new company will be based in Pune.
The JV will operate on the basis of a licence agreement with Balcke-Dürr GmbH, Germany, a 100 per cent subsidiary of SPX Corporation, it said.
However, the company did not provide any financial details of the joint venture.
The JV will address the requirements of the Indian power sector, poised for rapid growth with systems based on the proven technologies of SPX Balcke-Dürr.
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