Thermax acquires boiler-maker Danstroker A/S,German subsidiary

Unnikrishnan added that the company’s ambition of becoming a global player and entering the green market will be realised after this acquisition. “Renewable and green products account for over 50 % of the current revenues of the Danstoker Group. This acquisition will enable Thermax leverage the ongoing renewable energy movement of Europe aimed at generating 20% of its overall energy generation from renewables.”

On a new name after the acquisition,Thermax director Pheroz Pudumjee said,“Both the companies are very well known in the Nordic countries,Germany,UK,France,South East Asia and Russia. Even if we change the name in the near future,it will only be after examining the brand value of Thermax in these places. It just needs a stronger global management which we will try to provide.” Global energy generation from biomass is expected to double in the next 20 years. Boiler makers around the world are focusing on energy efficiency and multiple fuel usage to ensure energy security. “Thermax will add 237 experienced employees with this acquisition,apart from a well-organised and established supply chain rooted in the high-quality European engineering industry. Capitalising on Thermax’s engineering and project management capabilities,Danstoker can enhance its market share in the growing European green energy market,” said Unnikrishnan.