Indian Thermax buys Danish Danstoker for EUR 29.5m
(ADPnews) - Nov 9, 2010 - Indian energy equipment company Thermax Ltd (BOM:500411) said today it has acquired Danish boiler manufacturer Danstoker AS for EUR 29.5 million (USD 41.2m) to boost its presence on the European renewable energy market.
Danstoker makes biomass-based boilers and waste heat recovery systems. It owns production facilities in Denmark and Germany, where it manufactures fire- and water-tube boilers through its German subsidiary Omnical Kessel, which is now also controlled by Thermax. Danstoker's annual sales total EUR 40 million.
The acquisition is seen to strengthen Thermax's green product portfolio and enhance its presence in global clean energy markets.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.