Thermax Chemical Solutions has formed a joint venture with Brazil’s OCQ, holding 51% of the new entity. This partnership will enhance market presence and deliver high-performance chemical solutions. Production will be facilitated by adapting Thermax’s facility in Jhagadia, India, particularly focusing on acrylic resins.
Thermax Chemical Solutions (TCSPL), a subsidiary of Thermax, has signed an exclusive shareholder’s agreement with Oswaldo Cruz Quica Indústria e Comércio Ltda (OCQ) from Brazil, renowned for its resins and polymers. Under this agreement, Thermax will control a 51% stake in the joint venture, while OCQ will hold 49%. The partnership aims to enhance their market presence and deliver high-performance chemical solutions.
The newly formed company will focus on the manufacturing, trading, marketing, and sales of OCQ’s formulated materials. This will utilize Thermax’s infrastructure, resources, and extensive customer base. To support this venture, Thermax will modify its existing industrial plant at Jhagadia, Gujarat, India, establishing a new production line for acrylic resins.
The joint venture between Thermax Chemical Solutions and OCQ marks a strategic partnership aimed at enhancing their market positions in the chemical industry. By combining resources and expertise, the new entity is set to improve product offerings and expand operations, particularly in the production of acrylic resins. This collaboration reflects both companies’ commitment to delivering high-quality chemical solutions and strengthening their global reach.
Original Source: www.business-standard.com
