Joint Venture10 Mar 2025, 11:56 pm
Thermax Partners with Brazil's OCQ to Establish High-Performance Chemicals Production in India
AI Summary
Thermax Ltd, through its subsidiary Thermax Chemical Solutions Private Limited, has entered into a share subscription and shareholders agreement with Oswaldo Cruz Quimica Industria E Comércio LTDA, Brazil. The new company will undertake the business of manufacturing, trading, marketing, and selling of specialty chemicals and products in the Permitted Territories. Thermax will hold a 51% stake and OCQ will hold a 49% stake in the new company. The new entity will be responsible for manufacturing, trading, marketing, and selling OCQ formulated materials by leveraging Thermax's existing resources, infrastructure, and extensive customer base.
Key Highlights
- Thermax and OCQ have entered into a share subscription and shareholders agreement to establish a new company in India.
- The new company will undertake the business of manufacturing, trading, marketing, and selling of specialty chemicals and products.
- Thermax will hold a 51% stake and OCQ will hold a 49% stake in the new company.
- The new entity will be responsible for manufacturing, trading, marketing, and selling OCQ formulated materials.
- The new company will leverage Thermax's existing resources, infrastructure, and extensive customer base.