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.
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.
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