Global liquid-applied polymer flooring manufacturer, Vebro Polymers, in partnership with Thermax Chemical Solutions Private Limited (TCSPL), a wholly owned subsidiary of Thermax (a leading energy and environment solutions provider), is delighted to announce its collaboration to form Thermax Vebro Polymers India Private Limited. This partnership will see the two companies dive headfirst into the growing Indian industrial and commercial flooring market.

The deal represents a compelling opportunity to leverage Vebro’s global experience, technology platform and specification expertise with Thermax’s extensive project network and established infrastructure to create a market-leading polymer flooring business delivering significant shareholder value.

The new entity, Thermax Vebro Polymers will be on a 50.1% TCSPL and 49.9% Vebro Polymers ownership basis – under an exclusive two-way agreement – with the new entity headquartered in Pune, India and being operated from Chennai.

“The partnership with Thermax supports Vebro’s commitment to overseas growth and expansion, extending the brand’s reach to projects taking place across India at one of the most exciting times of the country’s economic development”, said CFO/CCO and co-founder of Vebro Group, Mark Verinder FCA. 

“The Indian construction sector is booming with no signs of the market letting up or slowing down as blue-chip companies continue to invest in the region.

“This collaboration with Thermax provides a unique opportunity to accelerate Vebro’s long-term strategy, creating substantial value for all shareholders and creating a recognised brand capable of holding its own alongside dominant market players” adds Verinder.

Commenting on the venture, Ashish Bhandari, MD & CEO of Thermax Group, said, “The association with Vebro Polymers is perfectly timed to leverage the massive potential of the Indian infrastructure sector that presents a multitude of opportunities, backed by favourable investments and government-led initiatives. We are excited to partner with Vebro in the flooring segment and are confident that combining their expertise with Thermax’s manufacturing capabilities and deep understanding of the local market will enhance our offerings and reach. This partnership is a step towards strengthening our chemicals business, which is well aligned to India’s growing infrastructural needs, giving a boost to the Make in India initiative.”

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)