Thermax, Pune-based engineering and capital goods manufacturer is looking to buy a European company in the waste water management sector and the company is looking to spend up to $100 million on the acquisition. Currently, the company has got cash reserves of $150 million which will be used in funding the acquisition.
Recently, Thermax had bagged an order worth Rs 403 crore from India’s largest producer of viscose staple fibre to construct and commission a turnkey captive power plant in western India. The company would supply four multi fuel, 175 TPH capacity CFBC (circulating fluidized bed combustion) boilers for the 3 x 32 MW co-generation plant. Scope of work for Thermax also includes entire engineering, procurement, construction of the power plant, including civil works, piping and miscellaneous balance of plant on a turnkey basis.
Thermax offers engineering solutions to various industries. It offers wide range of products and services in heating, cooling, waste heat recovery, captive power, water treatment, recycling and waste management. Besides India it has global presence in Bangladesh, Sri Lanka, China, Indonesia, Malaysia, Thailand, Philippines, Nigeria, Kenya, Saudi Arabia, UAE, Russia, Belgium, UK, USA, Brazil, Peru and Chile. It offers products and services to sectors like cement, fertilisers, petrochemicals, power, textiles, dairy, sugar, food, pharmaceuticals, refineries, distillery and aluminium.