Thermax Limited has acquired the entire stake in Thermax SPX Energy Technologies Limited (TSPX) held by the joint venture partners namely Mutares Holding 24 AG, Germany and Balcke-Duerr GmbH, Germany. Subsequent to the acquisition TSPX has now become a wholly owned subsidiary of Thermax Limited. 

Thermax SPX Energy Technologies Limited (TSPX) a joint venture between Thermax Limited (51%), Mutares Holding 24-AG Germany (23%) and Balcke-Duerr GmbH Germany (26%).