Thermax
 | |
| Public company | |
| Traded as |
BSE: 500411 NSE: THERMAX |
| Industry | Energy and Environmental engineering |
| Founded | 1980 |
| Headquarters | Pune, India |
Area served | Worldwide (75 countries) |
Key people |
Meher Pudumjee (Chairperson) M.S.Unnikrishnan (MD) , G.P. Kulkarni (CS) |
| Products | Chillers for large scale air conditioning units, steam generators, and boilers |
| Revenue | ₹55.16 billion (US$810 million) (2015)[1] |
| ₹3.68 billion (US$54 million) (2015)[1] | |
| Profit | ₹2.09 billion (US$31 million) (2015)[1] |
| Total assets | ₹58.28 billion (US$860 million) (2015)[1] |
| Total equity | ₹21.46 billion (US$320 million) (2015)[1] |
| Website | www.thermaxglobal.com |
Thermax. D Ltd. (BSE: 500411, NSE: THERMAX) is an Indian energy and environment engineering[2] company based in India and Britain. It manufactures, boilers, vapour absorption machines, offers water and waste solutions and installs captive power projects.[3] Thermax is also a historic brand name of boilers, and the name of a former toughened-glass company.
Anu Aga was the chairperson of the company 1996–2004, till she handed over the reins to her daughter, Meher Pudumjee,[4] and figured amongst the eight richest Indian women, and in 2007 was part of 40 Richest Indians by net worth according to Forbes magazine,[5][6] in 2009 she was at number 55, and continues to be a board member.[2]
History
Thermax came into being by harnessing the power of steam, produced by boilers.The company first started with producing small,once through,baby boilers to cater steam required at that time by the hospitals.Thus, the business was established in 1966. It was also the year A S Bhathena (father of Ex-chairman Anu Aga) collaborated with a Belgian company, Wanson, to commence business operation as Wanson India Ltd., manufacturing small boilers at a unit in Dadar, Mumbai . The company was renamed Thermax Limited in 1980.[7]
- Note: "Thermax" was also a brand name for Horizontal boilers manufactured by Ruston and Hornsby.
Thermax Ltd (INDIA)
Company based in India, which has also made boilers, has four manufacturing centres, and operates in seventy five countries. It became known as Thermax Ltd in 1980. In 1987 it started making vapour absorption machines, in collaboration with Sanyo of Japan. It formed a joint venture in 1988 with North Carolina-based Babcock & Wilcox, who make boilers, to make steam generation units for heat recovery steam generators (HRSGs).[8] In 1992 it formed its Combined Heat and Power Group.
On 15 February 1995 it became a public company on the Bombay Stock Exchange. In 2009, it signed a 51–49 joint venture with US firm SPX Corporation to provide equipment and services for Indian[9] power sector.[3] Indian wing is in Pune Area.
Acquisitions
- In November 2010, Thermax acquired European boiler manufacturer Danstroker A/S, and its German subsidiary, Omnical Kessel for Euro 29.5M.[10]
Structure
It has four main offices –
- Thermax (Europe) Ltd is based in Fenny Stratford, Milton Keynes in England (not far from IKEA).
- Thermax Inc – based in Northville, Michigan, USA
- Thermax do Brasil Energia e Equipamentos Ltda – Brazil
- Thermax (Zhejiang) Cooling & Heating Engineering Co – China
Its main divisions are :[11]
- Cooling and Heating (C & H)division.
- Boilers and Heaters (B & H)division.
- Power division.
- Enviro division.
- Chemical and Water division.
- Solar energy division.
Products
The main company makes absorption chillers used for large air conditioning systems & Heating equipments such as steam boilers,thermic fluid heaters,hot water generators – using a variety of solid, liquid and gaseous fuels.
The joint venture with Babcock & Wilcox makes B&W-licensed boilers for circulating fluidised beds and HRSGs.
See also
- Thermax was also the name of a glass processing firm founded in 1973 which made toughened glass products for car sunroofs and oven doors, and was bought by metal processing firm V.W. in 1983, becoming known as VW Thermax, later Thermax Holdings which was listed on the Unlisted Securities Market. It was bought by Huddersfield-based Heywood Williams[12] in February 1987 for £21m, and Cie de Saint-Gobain S.A. in March 1995. Based in Bishop Auckland, it became known as Thermax Interglass and is now Saint Gobain Solaglas Ltd in Eggborough.[13]
- List of conglomerates in Maharashtra
- List of boiler types, by manufacturer
- Fireside-Thermax Limited in house magazine.[14]
References
- 1 2 3 4 5 http://www.thermaxglobal.com/investor-relations/pdf/thermax-34th-annual-report.pdf
- 1 2 "India's Richest No. 55 Anu Aga". Forbes. 18 November 2009.
- 1 2 "India's Thermax in JV with US firm SPX-signage". Forbes. 26 August 2009.
- ↑ "Anu Aga passes Thermax baton to new chairperson". The Indian Express. 5 October 2004.
- ↑ "India's Richest". Forbes. 14 November 2007. p. 2.
- ↑ Vashisht, Pooja (9 February 2004). "Anu Aga and triumph of the spirit". The Times of India.
- ↑ "Thermax Ltd". The Times of India.
- ↑ "India's Thermax, US' Babcock & Wilcox sign industrial boiler licensing deal". Forbes. 12 February 2008.
- ↑ "Thermax-SPX JV to have combined investment of 250 mln". Forbes. 26 August 2009.
- ↑ "Thermax acquires boiler-maker Danstroker A/S, German subsidiary". Added new acquisition. Retrieved 10 November 2010.
- ↑ http://www.thermaxindia.com/
- ↑ Heywood Williams
- ↑ Saint-Gobain Glass
- ↑ http://www.thermaxindia.com/Resources/Fireside-Vol-40-No-4.aspx