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

Thermax Chemical Solutions has entered an exclusive shareholder's agreement with OCQ to form a new company, with Thermax holding a 51% stake and OCQ 49%. The new entity will manufacture acrylic resins at Thermax's plant in Jhagadia, Gujarat, with plans to expand to polyester and alkyd resins.

- Type: Partnership
- Announced: 2025-08-12
- Where: Jhagadia, Gujarat, India, India
- Status: announced
- Products: acrylic resins, polyester resins, alkyd resins
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Thermax](https://endata.com/companies/1348.md)
- [Oswaldo Cruz Química Indústria e Comércio Ltda](https://endata.com/companies/78134.md) (partner)

## Sources

- [nbmcw.com](https://www.nbmcw.com/product-technology/construction-chemicals-waterproofing/waterproofing-repair-chemicals/thermax-partners-with-brazil-based-ocq-for-high-performance-chemicals.html), 2025-08-12: "OCQ is a leading company in its space, and partnering with them will help us manufacture and deliver high-performance chemicals to a wide range of industries."

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