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Thermax buys entire stake in JV Thermax SPX Energy Technologies

ANI 

Engineering on Friday said it has inked definitive agreements with German firms Balcke-Duerr GmbH and Mutares Holding-24 AG to buy their shares in its joint venture SPX

had 51 per cent stake in Technologies with Balcke-Duerr holding 26 per cent and Mutares Holding-24 having the remaining 23 per cent. "Subsequent to the acquisition, TSPX has now become a wholly-owned subsidiary of Thermax Ltd," it informed stock exchanges in regulatory filings.

Thermax is anticipating a rise in demand for captive power plants over the next four to five years as investments in large power projects are plummeting and utilities are unable to garner reliable supplies.

So industries like food processing, pharmaceuticals, textiles and automobiles are focusing on improving their capacities and planning to generate their own power, instead of depending on the

is a 750 million dollar engineering company based in with presence across 86 countries with 27 international offices and 14 manufacturing facilities. The group also contains seven wholly-owned subsidiaries in and 21 overseas.

Its efficient and provide B2B partnerships to respond to the challenge of delivering products and services while guaranteeing margins and protecting the environment.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 12 2019. 12:40 IST
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