C.A. Telares de Palo Grande

What it is

Telares de Palo Grande is Venezuela’s only centennial towel manufacturer — founded in 1920, it has been weaving cotton fabrics in Caracas without interruption for more than a hundred years. Its 40,000 m² Caracas plant integrates the entire production process from raw cotton bales to finished consumer goods, a model that textile specialists call vertical integration.

The company makes fabrics, linens, and towels for home and industrial use, selling under the Millenium, Piacere, and Elite product lines, all marketed under its flagship consumer brand, Ama de Casa. The Ama de Casa® licence — covering towels, bathrobes, bed sheets, duvets, pillows, and accessories — has been the company’s market anchor since 1955.

It grows medium-long-staple Venezuelan cotton and supplements with US-grown fibre; it hand-harvests most of its crop, uses 100% organic dyes, and operates effluent-treatment equipment designed to cut its environmental footprint.

Who owns it

The company has roughly 1,500 shareholders, including approximately 350 employee-shareholders — an unusually broad base for a Venezuelan industrial company. The key principal identified in business registries is Carlos Enrique Blohm, pointing to the Blohm family as the controlling group; the exact ownership percentage is not disclosed in available public sources.

The share structure has three classes: Type A preferred shares, Type B preferred shares, and Type C common shares — each carrying different dividend entitlements, as set out in the 2020 shareholders’ assembly resolution. Total shares outstanding are approximately 1.188 billion.

Who runs it

The CEO is Carlos H. Blohm, consistent with the Blohm family’s long stewardship of the business.

His executive vice-president is Carlos Eduardo Domínguez Wulff, who holds the number-two operational role according to the company’s own corporate directory. CFO and board-chair identities are not disclosed in available public filings.

The money, in plain words

The company filed audited consolidated financial statements for the year ended 31 December 2024 — covering the income statement, balance sheet, statement of changes in equity, and cash-flow statement — with the Bolsa de Valores de Caracas on 11 November 2025. The underlying PDF is hosted on the company’s own website but could not be read remotely due to a server certificate error; revenue, net profit, margins, and return on equity figures are therefore not reproducible here.

What the market says: with approximately 1.188 billion shares outstanding and a BVC-quoted price of Bs. 12 per share on 9 July 2026, the total market value — what the stock exchange says the whole company is worth — comes to roughly Bs.

14.3 billion, equal to about USD 20.4 million at today’s exchange rate of 698.47 bolívares per dollar (our calculation). In October 2024 shareholders approved raising the nominal value of each share from Bs.

0.01 to Bs. 0.03, capitalising retained earnings to do so.

No cash dividend has been declared since 2020. At year-end 2024 the workforce stood at 179 people, up from 169 in 2023 — a quiet signal that the business was adding capacity, not contracting.

What it is doing now

From 5 November 2024, TPG shares began trading in single units on the BVC’s SIBE Smart system, abandoning the old convention of trading in lots of 100 shares — a liquidity reform that lowers the minimum ticket size and widens access for small buyers. The 2023 financial statements were approved by shareholders in May 2024; the 2024 statements were authorised by management in August 2025 and are pending formal shareholder ratification.

The company describes itself as “Venezuela’s number-one home textiles brand”, a claim it can sustain by default as much as by performance: the collapse of Venezuela’s broader textile industry has eliminated most domestic competition, leaving Ama de Casa® in a market largely emptied of local rivals.

What to watch

• The 2024 annual results. The audited statements are filed but not yet formally approved by shareholders; when that assembly meets, it will be the first full look at revenue and profit under the new trading structure.
• Currency and inflation risk. The company is required to present financials under SUNAVAL accounting rules — Venezuelan GAAP adapted for inflation — meaning reported figures in bolívares can shift dramatically with the official exchange rate.
• Cotton supply. Operations depend on raw-material availability, productive capacity, and domestic market conditions — all of which remain volatile in Venezuela’s managed economy.
• Ownership disclosure. The Blohm family’s precise stake and the free-float percentage are not publicly filed; greater transparency would help investors price the shares more accurately.
• Capital increase. The October 2024 extraordinary assembly voted to triple the nominal share capital by capitalising retained earnings — watch for whether the company uses that enlarged balance sheet to invest in plant or simply to formalise past profits.

This is news, not investment advice.