# Thermax and OCQ form joint venture for high-performance chemicals in India

Thermax Chemical Solutions entered an exclusive shareholders' agreement with Brazil's OCQ to form a new company, with Thermax holding 51% and OCQ 49%. The venture will manufacture acrylic resins at Thermax's Jhagadia plant in Gujarat, India.

- Type: Partnership
- Announced: 2025-07-10
- Where: Jhagadia, Gujarat, India
- Status: announced
- Products: acrylic resins, polyester resins, alkyd resins
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Thermax Chemical Solutions](https://endata.com/companies/78133.md) (partner)
- [Oswaldo Cruz Química Indústria e Comércio Ltda](https://endata.com/companies/78134.md) (partner)

## Sources

- [nbmcw.com](https://www.nbmcw.com/news/thermax-partners-with-brazil-based-ocq-for-high-performance-chemicals.html), 2025-07-10: "Thermax will hold a majority 51% stake in this new company, while OCQ will have a 49% share."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.