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Alfa increases stake in Nemak to 85%

Bnamericas Published: Monday, January 03, 2005
Mexican industrial conglomerate Grupo Alfa (BMV: ALFAA) has increased its stake in aluminum motor parts manufacturer Nemak from 80% to 85%, buying a 5% stake from the US' Ford motor company, the company told Mexico City's stock exchange (BMV). Through the deal, Ford has reduced its stake in Nemak from 20% to 15%. Nemak is a world leader in the production of aluminum motor parts and has production plants in Mexico, Canada and the Czech Republic. In 2004, Nemak reported income of US$846mn and employed more than 6,000 people. Its clients include Ford, Daimler Chrysler and General Motors (GM) and it supplies products to 23 auto plants in North America, South America, Europe, China and Australia. Grupo Alfa is a Mexican industrial firm with operations in steel (through Hylsamex), synthetic fibers, refrigerated foods and telecommunications.

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