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Latest News |
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8/26/2009 5:29:00 PM |
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Engineering firm Thermax said it has entered into a joint venture with infrastructure firm SPX Corporation for providing expertise in integrating energy and engineering for large infrastructure projects. The company and SPX Corporation has established a strategic joint venture (JV) on a 51% and 49% shareholding basis, respectively, Thermax said in a statement to the Bombay Stock Exchange.
“We are very happy to bring in the expertise of SPX. With this joint venture, India will now have a world-class supplier for power plant accessories and balance of plant equipment, a critical factor for our economy,” Thermax Managing Director, M S Unn ikrishnan said.
The JV would operate on the basis of a licence agreement with Balcke-Durr GmbH, Germany, a subsidiary of SPX Corporation, Thermax added. For the Indian power sector, the joint venture would provide a synergy of Thermax expertise in integrating energy and environment engineering with SPX technology solutions for large infrastructure projects, it said.
The JV would address the requirements of the Indian power sector, poised for rapid growth with systems based on the proven technologies of SPX Blacke-Durr, the statement said.
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