Global liquid-applied polymer flooring manufacturer, Vebro Polymers, in partnership with Thermax Chemical Solutions Private Limited (TCSPL), a wholly owned subsidiary of Thermax (a leading energy and environment solutions provider), is delighted to announce its collaboration to form Thermax Vebro Polymers India Private Limited. This partnership will see the two companies dive headfirst into the growing Indian industrial and commercial flooring market.
The deal represents a compelling opportunity to leverage Vebro’s global experience, technology platform and specification expertise with Thermax’s extensive project network and established infrastructure to create a market-leading polymer flooring business delivering significant shareholder value.
The new entity, Thermax Vebro Polymers will be on a 50.1% TCSPL and 49.9% Vebro Polymers ownership basis – under an exclusive two-way agreement – with the new entity headquartered in Pune, India and being operated from Chennai.
High performance polymer flooring
Mixed in-situ, liquid applied, multi-layer flooring systems, such as epoxy, polyurethane, methyl methacrylate (MMA) and polyaspartic, are increasingly being specified in India for use in a wide range of specialist facilities, including warehouses, chemical plants, food processing plants, pharmaceutical facilities, semiconductor manufacturing, data centres and metal fabrication units.
Decorative systems including epoxy bound quartz, broadcast flake and diamond-ground terrazzo surfaces are also increasingly being selected for public venues subject to high levels of pedestrian traffic such as municipal buildings, shopping malls, stadium buildings and airports as well as leisure and entertainment complexes.
Polymer flooring solutions are increasingly being chosen for their quick application time, durability, chemical resistance, and ease of maintenance. Major advantages with industrial flooring systems include enhanced safety and hygiene properties combined with an overall improvement to working conditions which attributes to higher productivity.
Driving factors for growth in Indian construction market
Factors fuelling the exponential growth in the flooring sector includes the MSME’s (Ministry of Micro, Small and Medium Enterprises) heightened focus on improving quality standards driven by a greater awareness and demand from overseas clients.
Government-backed initiatives including the ‘Make in India’ campaign – which recently celebrated its 10th year – alongside Atmanirbhar Bharat and the India Semiconductor Mission (ISM), are also driving additional demand for industrial flooring and other construction chemical solutions across India.
Infrastructure development remains a critical focus as does the construction of Smart Cities with major initiatives like Gati Shakti driving new processes and uniting government divisions through a shared platform to work together on projects such as roads, railways, airports, ports, mass transport and waterways.
Mumbai Trans Harbour Link, Navi Mumbai International Airport, Noida International Airport, Aqua Line 3 of Mumbai Metro and Mumbai Coastal Road Project are just a handful of major projects scheduled to be operational in 2024 all of which will bring about transformational change in urban infrastructure across the country.
Introducing Thermax Vebro Polymers
Founded in 2019, Vebro Polymers is a global supplier of polymer flooring, specialist coating, cementitious underlayment and car park deck wearing and waterproofing solutions.
Formed by industry stalwarts who, combined, have hundreds of years’ experience in the polymer flooring, coatings, and construction chemicals industry, the brand operates worldwide from manufacturing plants located in Trafford Park, Manchester, UK and the Klang Valley, Kuala Lumpur, Malaysia.
Acquiring the ability to manufacture its proprietary solutions in country, through the new entity will accelerate Vebro’s penetration into the flooring market, allowing the brand to compete locally with its proprietary technology while at the same time leveraging Thermax’s existing contacts, credibility, and foothold on construction projects taking place pan-India.
Thermax Group is a leading conglomerate in the energy, environment and chemical space and a trusted partner in energy transition. Backed by its longstanding industry partnerships across multiple sectors, Thermax has cultivated strong expertise in audit, consulting, execution. Thermax operates 14 manufacturing facilities across India, Europe, and Southeast Asia and has 43 Indian and international subsidiaries.
“The partnership with Thermax supports Vebro’s commitment to overseas growth and expansion, extending the brand’s reach to projects taking place across India at one of the most exciting times of the country’s economic development”, said CFO/CCO and co-founder of Vebro Group, Mark Verinder FCA.
“The Indian construction sector is booming with no signs of the market letting up or slowing down as blue-chip companies continue to invest in the region.
“This collaboration with Thermax provides a unique opportunity to accelerate Vebro’s long-term strategy, creating substantial value for all shareholders and creating a recognised brand capable of holding its own alongside dominant market players” adds Verinder.
Commenting on the venture, Ashish Bhandari, MD & CEO of Thermax Group, said, “The association with Vebro Polymers is perfectly timed to leverage the massive potential of the Indian infrastructure sector that presents a multitude of opportunities, backed by favourable investments and government-led initiatives. We are excited to partner with Vebro in the flooring segment and are confident that combining their expertise with Thermax’s manufacturing capabilities and deep understanding of the local market will enhance our offerings and reach. This partnership is a step towards strengthening our chemicals business, which is well aligned to India’s growing infrastructural needs, giving a boost to the Make in India initiative.”
