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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