Mumbai: Thermax Ltd, a global solution provider in energy and environment engineering, on 3 October said it has entered into a technology and manufacturing license agreement with US-based Georgia-Pacific Chemicals LLC.
The company has signed a technology and manufacturing license agreement for performance enhancing chemicals which find extensive applications in the paper industry, Thermax said in a communique to the Bombay Stock Exchange.
“Georgia- Pacific’s technology will give us some real credibility in offering long-term solutions to paper manufacturers,” Thermax Ltd Managing Director M S Unnikrishrian said.
This technology agreement would enable the company to improve the competitive edge of its clients by raising productivity, reducing raw material and production costs, and minimising plant downtime while enhancing quality and safety, the firm said.
Products based on the licensed technology will enable the company to expand its business in the paper industry in India and South East Asia as per the agreement, Thermax said.
The agreement would stand valid for a period of 7 years.
Shares of the company were last trading at Rs700, down 4.34% at the BSE.