Thermax acquires all stakes of JV partners in Thermax SPX Energy Technologies

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An India-based engineering company Thermax has announced that the company has acquired the complete stake of its joint venture partners in Thermax SPX Energy Technologies.

In a filing at BSE, the company said that “It has acquired the complete stake of its joint ventures partners, which includes MUTARES HOLDING-24 AG, Germany and BALCKE-DUERR GmbH, Germany.”

Thermax SPX Energy Technologies Ltd (TSPX) is a joint venture between Thermax Ltd, MAUTARES HOLDING 24-AG and BALCKE-DUERR GmbH, Germany where Thermax Ltd hold (51%), MUTARES HOLDING 24-AG and BALCKE-DUERR GmbH, Germany each own 23 percent and 26 percent respectively.