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Mergers & Acquisitions | 23 March 2012

Thermax Acquires Germany Based Rifox Hans Richter

by Irfan Khan
Thermax Acquires Germany Based Rifox Hans Richter
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Pune based Thermax Ltd has acquired the steam division of Virgo Valves and Controls Ltd and its German Subsidiary Company Rifox Hans Richter GmbH for R12.39Cr.

Virgo Valves and Controls Ltd was incorporated as a 100% EOU in 2004 as a wholly owned subsidiary of Virgo Engineers Ltd. Virgo Engineers Ltd was incorporated as Virgo Engineers Private Limited in June 1987 and was changed to a public limited company in February 1995. Till 1989, the company was in the business of trading in control flow products.

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