Thermax Setting up manufacturing facility in China

Thermax Ltd has announced that the Company is setting up a plant in the People's Republic of China for manufacturing Absorption Chillers with an investment of US$ 8.0 million.

The Company is setting up a subsidiary, i.e., Wholly Foreign Owned Enterprise (WFOE) in China, in the name of "Thermax (Zhejiang) Cooling & Heating Engineering Co. Ltd" by investing in its registered share capital. The WFOE has already receive license from the authorities concerned to commence business in China. This Subsidiary would cater to the requirements of Absorption Chiller market in China and also of other export markets.

Source : Equity Bulls

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