Three of the largest companies leading the ranking in Latin American multinationals, have, or at some point have had direct links with Asturian capital.
According to information from the Multi-Latin Index, a study undertaken by América Economía, which measures the progress of “Multi-Latin” companies through their international expansion over the past financial year, Mexichem, Latam and Cemex, three companies linked to Asturian investment, are positioned as leaders in terms of growth in globalisation levels.
The so-called “Multi-Latins” are companies boasting annual sales figures of over 250 million dollars, with considerable international presence and with their origins and capital in Latin America, among other aspects. Their position in the multinationals ranking is determined by four factors: commercial strength, employees working abroad, geographical coverage and potential for growth.
The Valle family controls the chemical company Mexichem, while the Cueto family holds the airline consortium Latam. With regards to the cement company Cemex, its tie to Asturias dates back to 1906 and the Asturian Rivero family.
As a result of the union between the Chilean LAN and Brazilian TAM airlines, LATAM is a group that in terms of its fleet and passenger numbers, is positioned as the biggest airline company in Latin America, coming tenth in the world.
Thanks to the synergy and boost to their respective economies resulting from the merger, the companies have been able to increase the number of flights worldwide, providing more services for their customers.
It is envisaged that the airline consortium will operate in 23 countries, serving over 45 million passengers with 355 aeroplanes and a total staff-base of 44,000 employees.
Following the merger, the Asturian Cueto family that previously controlled LAM, holds the majority in the Latam board of directors, with over 24% of the total shares.
The chemical company Mexichem, governed by the Asturian-Mexican family Del Valle and as a member of the Kaluz conglomerate, is the largest of the industrial companies in the Latin American chemical sector.
It undertakes commercial activity in over 90 countries. The Mexican company has over 120 production plants, 16 R&D labs and 2 fluorite mines, making it the largest exporter of this mineral. It has over 19,000 employees, of which more than 70% operate outside of Mexico. Its net sales figure exceeds 5,6 billion dollars, of which 80% is generated outside of Mexico.
The company CEO is Antonio del Vale, who was the president of the Asturian Federation of Entrepreneurs in Mexico and is a descendent of the Asturian family.
The multinational falls within the main producers of cement and concrete, generating over 15 billion dollars of sales each year, of which 27% are made in Northern Europe, 24% in the USA and 20% in Mexico.
Cemex is present in over 50 countries and upholds business relations in over 100. It has an international staff-base of around 44,000 employees.
The presence of Asturian capital in the Mexican company dates back to the start of the last century, when the Asturian Rivera family participated as a developer when it was founded.