Thermax acquires stake of JV partners in Thermax SPX Energy Technologies

Thermax announced that on 11 April 2019, the company has acquired the entire stake held by the joint venture partners namely MUTARES HOLDING-24 AG, Germany and BALCKE-DUERR GmbH, Germany in Thermax SPX Energy Technologies (TSPX).

Subsequent to the acquisition TSPX has now become a wholly owned subsidiary of Thermax.

Previously, TSPX was a joint venture between Thermax (51%), MUTARES HOLDING 24-AG Germany (23%) and BALCKE-DUERR GmbH Germany (26%).

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