Environment solution provider Therma to acquire Polish firm
Indian energy and environment engineering company Thermax will acquire a 100% stake in Polish firm Barite Investments. In a deal through its step down subsidiary in Denmark, Thermax will acquire assets and production activities linked to boiler manufacturing, while Barile will become a step-down subsidiary of Thermax, according to a company statement. The agreement, set to complete following regulatory approval, will offer Thermax additional manufacturing capacity for future expansion into Europe.
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Thermax to acquire Polish firm Barite Investments

Thermax to acquire Polish firm Barite Investments

New Delhi, Mar 29 (PTI) Thermax through its step down subsidiary in Denmark, has agreed to acquire 100 per cent stake of Barite Investments, Poland.With this (transaction) Barite will become a step do

New Delhi, Mar 29 (PTI) Thermax through its step down subsidiary in Denmark, has agreed to acquire 100 per cent stake of Barite Investments, Poland.

With this (transaction) Barite will become a step down subsidiary of Thermax, the company said in statement.

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According to the statement, as par of the definite agreement with Weiss Sp. z.o.o. in Poland, Thermax will acquire certain assets and production activities related to boiler manufacturing.

The agreement was singed on March 28, 2017 and the transaction would be completed after fulfilling certain conditions.

The statement said that the acquisition is of strategic advantage to Thermax since it provides the company additional manufacturing capacity for future expansion and for advancing its business in Eastern Europe.

Thermax is an energy and environment solution provider.

This is published unedited from the PTI feed.

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