Thermax Chemical Solutions has signed a joint venture agreement with OCQ in Brazil. Thermax will hold a 51% stake in the new entity, while OCQ will have 49%. The collaboration seeks to strengthen their market presence and produce high-performance chemical solutions, focusing on acrylic resins production in India.
Thermax Chemical Solutions (TCSPL), a subsidiary of Thermax, has finalized an exclusive shareholder’s agreement with Oswaldo Cruz Quica Indústria e Comércio Ltda (OCQ), a leading chemical company in Latin America that specializes in resins and polymers. Under this agreement, Thermax will secure a majority stake of 51% in the new joint venture, while OCQ will retain a 49% ownership. This partnership aims to bolster their global market presence and offer high-performance chemical solutions.
The newly formed entity will focus on the manufacturing, trading, marketing, and selling of OCQ’s formulated materials. This initiative will leverage Thermax’s established resources, infrastructure, and comprehensive customer network. Furthermore, Thermax plans to modify its industrial facility in Jhagadia, Gujarat, India, to install a production line dedicated to the manufacture of acrylic resins.
The joint venture between Thermax Chemical Solutions and OCQ marks a strategic alliance aimed at enhancing global market presence and delivering advanced chemical solutions. With a majority stake held by Thermax, the partnership is set to leverage existing resources for successful manufacturing and marketing of innovative products.
Original Source: www.business-standard.com
