Thermax Chemical Solutions Forms Joint Venture with OCQ in Brazil

Thermax Chemical Solutions has formed a joint venture with Brazil’s OCQ, holding a 51% stake while OCQ retains 49%. The collaboration seeks to enhance global market presence and produce high-performance chemical solutions. Operations will include manufacturing and marketing OCQ’s products, utilizing Thermax’s infrastructure, with a new acrylic resin production line in India.

Thermax Chemical Solutions Private Limited (TCSPL), a fully owned subsidiary of Thermax, has signed an exclusive agreement with Oswaldo Cruz Quica Indústria e Comércio Ltda (OCQ), a prominent Brazilian chemical manufacturer. Thermax will maintain a controlling interest with a 51% stake, while OCQ will hold 49%. This joint venture aims to enhance their market presence globally and provide high-performance chemical solutions.

The new joint venture will focus on the manufacturing, marketing, trading, and selling of OCQ formulated products. It will utilize Thermax’s existing resources, infrastructure, and extensive customer relationships. In preparation for these operations, Thermax plans to upgrade its industrial facility located in Jhagadia, Gujarat, India, to establish the inaugural production line for acrylic resins.

In conclusion, the joint venture between Thermax Chemical Solutions and OCQ represents a significant strategic partnership that promises to bolster their competitive edge in the global chemicals market. By leveraging both companies’ strengths, particularly in manufacturing and distribution, they aim to deliver innovative and high-performance chemical solutions effectively.

Original Source: www.business-standard.com