Thermax invests US$ 8 mn to set up a mfg facility in China

Mumbai, Dec 28 (UNI) Thermax Ltd is setting up a plant in the People's Republic of China for manufacturing Absorption Chillers with an investment of US$ 8.0 million.

Informing the BSE, the Company is setting up a subsidiary -- a Wholly Foreign Owned Enterprise (WFOE) -- in China in the name of ''Thermax (Zhejiang) Cooling &Heating Engineering Co. Ltd'' by investing in its registered share capital.

The subsidiary has already received license from the authorities concerned to commence business in China. It would cater to the requirements of Absorption Chiller market in China and also of other export markets.

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