 | |
| Type | Private |
|---|---|
| Founded | 1946 |
| Headquarters | Mexico City, Mexico |
Key people | Luis Berrondo Avalos (Chairman and CEO) Urbano Perez (Vice Chairman and SVP) Javier Burkle (CFO) Rogelio Arizpe (CTO) |
| Products | White appliances |
| Revenue |  $4 billion |
| Owners | GE Appliances (48.4%) |
Number of employees | 21,000 |
| Website | www |
Mabe is a company which designs, produces, and distributes appliances to more than 70 countries around the world. The company was incorporated in Mexico City in 1946 by Egon Mabardi and Francisco Berrondo, both Spanish refugees who escaped the turmoil of the Spanish Civil War.[1] Mabe was initially dedicated to manufacture kitchen furniture. In the 1950s, Mabe began manufacturing various appliances such as gas ranges and refrigerators. Rapid growth allowed Mabe to become the leading exporter of home appliances in Mexico as early as 1960.
In 1986, Mabe entered into an important joint venture with General Electric to produce appliances for the US market. As part of an effort to move away from controlling Mexican operations from the US, GE decided to enter into the joint venture with a 48% minority stake. While General Electric hoped to gain access to Mexico's low cost labour pool, Mabe was given greater access to the world's largest consumer market through GE's US distribution network. By the mid-1990s, more than two-thirds of all gas ranges and refrigerators imported into the United States were designed and manufactured by Mabe in Mexico, while 95% of those sold under the General Electric names were designed in Mabe's San Luis Potosi plant, the biggest kitchens plant in the world.[2] As a result, Mabe became the leading brand in Mexico, moving ahead of Vitro's Acros brand with a domestic market share of 50%.
As the company continued to grow, exports and production remained concentrated in Latin America. By the mid 1990s, Mabe was one of the leading appliance manufacturers in the world with annual growth between 15 and 20%. In Mexico, Mabe all but dominated the market, while in Latin America, Mabe commanded a 70% market share in home appliances.
The group also entered into several joint ventures and alliances with other regional manufacturers. Solid sales growth in Latin America all but eliminated the impact of the peso crisis in 1995.
In 2016, General Electric sold GE Appliances business to China-based Haier. The transaction included the 48.4% minority stake that GE held in Mabe.[3]
Main products[edit]
In Latin America, Mabe held the rights to distribute their products under a variety of well-known brands, such as GE and a number of regional brands. The regional brands were well established in their respective countries.
References[edit]
- ^ "Controladora Mabe S.A. de C.V." Bloomberg Businessweek. Bloomberg L.P. Retrieved 15 October 2011.
- ^ [1][permanent dead link]
- ^ Tsang, Amie (2016-01-15). "G.E. to Sell Appliance Division to Haier for $5.4 Billion". The New York Times. ISSN 0362-4331. Retrieved 2020-06-28.