Forbes Marshall forms a 50:50 JV with Belgium’s Vyncke
Dr. Naushad Forbes, Director – Forbes Marshall (Left) shaking hands with Peter Vyncke, CEO – Vyncke Energietechniek after signing the agreement. Tom Vermeulen, Trade Commissioner of Belgium (Center) is also seen in the picture
Pune, March 24: The launch the Indo-Belgian joint venture company forbesvyncke pvt ltd, promoted by Vyncke Expert n. v. Harelbeke Belgium and Forbes Marshall Pune, was announced today. The two companies had signed an MOU a year ago and have now launched the company.
The agreement was signed in Pune today, in the presence of His Royal Highness Prince Philippe of Belgium, by Dr Naushad Forbes and Mr Peter Vyncke. The new venture aims to change Industry perception about the way biomass waste is converted to green energy and implemented in India. The technologies installed will help Indian companies increase energy efficiency and productivity at their factories and support the fight against global warming.
The joint venture company aims to promote, manufacture, install and provide after-sales support for technologies for converting waste biomass to green energy targeting local industries in India, Sri Lanka, Bangladesh and Nepal. It will be based on quality European technologies and use Indian expertise and market knowledge to localize the products.
Vyncke’s strength is its experience in combustion technology and biomass energy plants. Forbes Marshall has a strong presence in the Indian Market through the solutions they provide in Process Efficiency and Energy Conservation.
The businesses of the two companies complement each other and provide a platform to offer the best technology. The new Joint Venture company will cater to a broad spectrum of industrial energy users, namely textiles and garments, pharmaceuticals, breweries and distilleries, food processing and agro industries, tyres and rubber, chemicals and the dairy sector.
From L to R – Peter Vyncke, CEO – Vyncke Energietechniek, His Royal Highness Prince Philippe of Belgium, Van Ackere, Minister of Foreign Affairs and Dr. Naushad Forbes
