garza sada family alfa

"Alfa, S.A. de C.V" International Directory of Company Histories, Vol. Language links are at the top of the page across from the title. In Vino Veritas. Stockton, William, Banks To Get Stake in Mexicos Alfa, New York Times, December 11, 1986, p. D10. By 1980 it had 157 subsidiaries in 39 branches of the economy. Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. Alfa was a party to 11 joint ventures with foreign companies. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. Her book, "Our Group," written surreptitiously at night, offers the sort of blazing indescretions about Mexico's mighty of which the public rarely gets a glimpse: political power games played all the way up to the presidencey, shady business deals, tales of corruption, murder and high living, savored with rich detail of illicit love affairs. estimated between 1909 and 1969. One observer said they always picked the kid with the Harvard MBA over the guy who really knew the business. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income fell to 444 million pesos ($130 million). 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Alfa is listed on the Mexican Stock Exchange and the Latibex, the Latin American market in the Madrid Stock Exchange. . de C.V.s Board of Directors a unique insight on the global economic and commercial landscape, thus allowing the constant improvement of CEMEXs business strategy. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. De C.V. ." de C.V., Axtel, S.A.B. Fax: (330) 796-2222 Global Development Council | Harvard Kennedy School Finally, we can read about how these great companies came about with Company Histories.. [CDATA[ Versax, S.A. de C.V. was an Alfa subsidiary engaged in the production of aluminum cylinder heads and in three other industries: carpets and rugs, mattresses, and building supplies. ", Salinas says nothing can hold her back. Guaguacoa Carrizalejo on Instagram: "Nos encontramos sobre la ave Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. //]]>, Avenida Gomez Morin 1111San Pedro, Garza Garcia, Nuevo Leon 66220Mexico(528) 335-9781, (528) 335-9228Fax: (528) 335-9781, (528) 335-9588, Public CompanyIncorporated: 1974 as Grupo Industrial Alfa, S.A. de C.V.Employees: 23,412Sales: 27.83 billion pesos (US $3.64 billion, 1996)Stock Exchanges: Mexico CitySICs: 1011 Iron Ores; 2011 Meat Packing Plants; 2033 Natural Processed & Imitation Cheese; 2099 Food Preparations, Not Elsewhere Classified; 2273 Carpets & Rugs; 2821 Plastic Materials, Synthetic Resins & Nonvulcanizable Elastomers; 2824 Manmade Organic Fibers, Except Cellulosic; 3312 Steel Works, Blast Furnaces (Including Coke Ovens) & Rolling Mills; 3316 Cold-Rolled Steel Sheet, Strip & Bars; 3317 Steel Pipe and Tubes; 3714 Motor Vehicle Parts & Accessories; 4813 Telephone Communications, Except Radiotelephone; 5211 Lumber & Other Building Materials Dealers; 6719 Offices of Holding Companies, Not Elsewhere Classified. He was President of Versax and of Sigma. In retrospect, following Alfa's near-bankruptcy in 1982, Alfa's success bred arrogance. International Directory of Company Histories. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. By 1980 it had 157 subsidiaries in 39 branches of the economy. I will soon write another book showing the moral decay of our ruling class.". Source: International Directory of Company Histories, Vol. Telephone: (312) 606-4000 Encyclopedia.com. The company recorded the most profitable year of its history in 1988. U.S.A. Before that, he was the director for . Eugenio Garza Sada on Instagram: "APPLY NOW! We already start the [2], The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. As an era of high prices for Mexicos oil exports suddenly came to an end, in late 1981 Alfa dropped its projection of earnings for the year from $80 million to $2 million. de C.V., Mexico 14th Annual Global CEO Survey Interview Transcripts Geneanet. "Alfa, S.A. de C.V. Fernndez Menndez, Jorge. "We manage these ventures, always", Garza Sada told Forbes in 1979. These children, in turn, intermarried with other prominent Monterrey families, including the Laguera and Seplveda families. Chairman of the Board of Directors of ALFA, S.A.B. He was President of Versax and of Sigma. Board of Directors - Corporate Website - Cemex The company recorded the most profitable year of its history in 1988. Grupo Alfa profits would know no limit.". Pick a style below, and copy the text for your bibliography. 2019Encyclopedia.com | All rights reserved. The Turning Point. When Dionisio Garza Medina, a nephew of Bernardo Garza Sada, became chairman in 1994, he fired half of Alfa's middle managers and focused on restoring higher profitability to the company's three main business sectors: steel, petrochemicals, and food. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. This was followed in 1996 by net income of 3.06 billion pesos ($400 million) on net sales of 27.83 billion pesos ($3.64 billion). If she knew there would be so much trouble, why did she write the book? Although Alfa suffered near-bankruptcy in the economic crisis of 1982 and lost money in the peso devaluation of 1994, it remained among the largest industrial enterprises in Mexico. Hylsa became the largest privately run steelmaker in Mexico, a fully integrated complex with activities ranging from mining and processing iron ore to finished products. When Dionisio Garza Medina, a nephew of Bernardo Garza Sada, became chairman in 1994, he fired half of Alfas middle managers and focused on restoring higher profitability to the companys three main business sectors: steel, petrochemicals, and food. Rosario Garza Sada, Roberto Garza Sada, Eugenio Garza Sada, Consuelo Garza Sada, . Alfa took a 26 percent interest in the company, Alestra, with Visa and Bancomer holding 25 percent and AT&T holding the remaining 49 percent. ." Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA). The authorities, not given to public explanations, have said nothing about the book's confiscation or its contents, the most controversial part of which relates to the murder of the family patriarch. ." As of 2014, its portfolio comprised five businesses: Alpek, the petrochemical company; Nemak, the aluminum auto components company; Sigma Alimentos, the refrigerated foods company; Alestra, the IT & telecom company; and Newpek, the oil and natural gas extraction company. This subsidiary accounted for 12 percent of Alfas revenues in 1996. A 15-member board was named to govern the company, of which nine would be named jointly by the foreign banks and the Garza Sada family. Alpex was Alfa's biggest subsidiary, accounting for 44.5 percent of the parent company's revenues in 1996. Name: Equities % Valuation: Alfa S.A.B. Echeverria is now accused of fostering letfism and chaos. His union with Consuelo produced numerous children, among them Eugenio Garza Sada, Isaac Garza Sada, and Roberto Garza Sada. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). According to the 1987 FORBES inaugural list of the World's Billionaires, Brazil's Ermirio de Moraes family ($2 billion net worth) and Mexico's Garza Sada family ($1.3 billion net worth), were the . All rights reserved. https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv, "Alfa, S.A. de C.V. Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. This was followed in 1996 by net income of 3.06 billion pesos ($400 million) on net sales of 27.83 billion pesos ($3.64 billion). [1], Bernardo Garza Sada died at his home in Monterrey, Nuevo Len, Mexico, on November 7, 2009, at the age of 79. Garza Sada Family: 35.63: Government Pension Fund - Global . It is a constituent of the IPC, the main benchmark index of the Mexican Stock Exchange, and of the S&P Latin America 40, which includes leading, blue chip companies from Latin America. This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. (June 3, 1853 - May 1, 1933) was a Mexican businessman who redirected to industry the interests of the Garza family which, according to Fortune Magazine, are the Mexican equivalent of the Rockefellers This page was last edited on 27 November 2020, at 12:18 . Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. To enter the "Monterrey Group's" social circuit, the best way, she writes, "is to be an industrialist. Currently, he is a member of the Board of Directors of Alpek, S.A.B. Eugenio Garza Sada 1892-1973 Married 16 April 1921, Monterrey, Nuevo Len, Mxico, toConsuelo Josefina Lagera Zambrano 1901; Encyclopedia.com. If you look at the profile of our strategy, Garza Medina told a Wall Street Journal reporter, we are going from a commodity company into more value-added products, with higher profit margins. It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. Versax, S.A. de C.V. was an Alfa subsidiary engaged in the production of aluminum cylinder heads and in three other industries: carpets and rugs, mattresses, and building supplies. Mr. Garza Sada is member of the boards of ALFA, FEMSA, Gigante, Liverpool, Lamosa, CYDSA, Frisa, ITESM, MVS and The Mexican Stock Exchange. Oversold stocks. [2], Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. How they act, what sort of judgment they have. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). Alestra began long distance operations in Monterrey and Queretaro at the beginning of 1997 under the AT&T name. Yet if it were proved that the respected dean of Mexican business was killed by the right, this would throw a very different light on the turmoil of Echeverria's last years in office. ALFFF: Get the latest Alfa SAB de C stock price and detailed information including ALFFF news, historical charts and realtime prices. Alfa in the Early 1990s. When Roberto Garza Sada was born on 9 December 1895, in Monterrey, Nuevo Len, Mexico, his father, Isaac Garza de la Garza, was 42 and his mother, Consuelo Sada Muguerza, was 27. Cemex S.A.B. "There is no falling out," one source explained to the New York Times. ", Salinas suspects that her relatives will want to ruin her economically, although "that will take them a while. . Don Eugenio, as he was widely known, was the man mainly respinsible for turning a family beer brewery and glass factory into what is now a $1.5-billion industrial concern taking Monterrey from a small desert town at the turn of the century to one of Latin America's most important industrial centers. [2], In 1996, Alfa formed a joint venture with Valores Industriales, Bancomer (Mexico's second largest bank), and AT&T to enter the Mexican long-distance telephone market in competition against Telfonos de Mexico. And anyway, all the private things I write, everyone knows about in Monterrey - employes, wives, servants. "It was all part of a plan," she says. Web site: http://www.pilgrimspride.com Manufacturing ventures in television sets, bicycles, and tractors were sold. learn how over 7,000 companies got started! Hylsamex's revenues accounted for nearly one-third of Alfa's in 1995 (and 35 percent in 1996), but its net income in 1995 was only 12 percent of the group's total. The businessman has a total of 6 children, three from his first marriage to Ninfa Sada Garza and three others with his current partner Mara Laura Medina. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. The most famous of these groups, the ALFA industrial group, the largest in Latin America in the early 1980s, was founded by Bernardo Garza Sada, grandson of Isaac and son of Roberto. Bernardo Garza Sada, Roberto's son, became chairman of Grupo Industrial Alfa, S.A., which inherited Hylsa and many other industrial enterprises, including Empaques de Carton Titan, a packaging company founded in 1926; Nylon de Mexico (synthetic fibers), founded in 1952; and Polioles (chemicals), founded in 1962. Alfa was a party to 11 joint ventures with foreign companies. The other components are led by VITRO, VISA, controlled by the Garza Laguera family, and the CYDSA group, presided over by the Sada Zambrano family. A frozen food plant and a cheese manufacturing facility were under construction. [2], When Dionisio Garza Medina, a nephew of Bernardo Garza Sada, became chairman in 1994, he fired half of Alfa's middle managers and focused on restoring higher profitability to the company's three main business sectors: steel, petrochemicals, and food. "If you look at the profile of our strategy," Garza Medina told a Wall Street Journal reporter, "we are going from a commodity company into more value-added products," with higher profit margins. It operated more than 70 distribution centers. NAIC :32562 Toilet Preparatio, 125 South Franklin Street Brazil Tops Latin Billionaires On List's 3rd Decade, While - Forbes "But there was a real problem as to who would be next 'supreme,' so they juggled the shares within the family and divided the group. Armando Garza Sada Net Worth (2023) | wallmine De C.V executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. He married Margarita Sada Garca on 11 February 1921, in Monterrey, Nuevo Len, Mexico. Monterrey, Mexico: Comit de Archivo y Biblioteca, Congreso del Estado de Nuevo Len, 2003. The memorial is located at the crossroad where Garza Sada died in 1973. Garza Sada Family | Encyclopedia.com About 70 percent of the foreign lenders agreed to exchange about $639 million of the debt for about $385 million in debt owed by Mexico itself and about $69 million in cash. He is also Professor at the University of Montral, Professor at Instituto Tecnol?gico y de Estudios Superiores de Monterrey, Professor at EGADE Business School and VP-Sustainability & Social Responsibility Culture at Sigma SA de CV and on the board of 6 other companies. Encyclopedia.com. He has been a member of CEMEX, S.A.B. The police action has caused and out-cry in the press, which argues that while the book may not be respectable, its illegal confiscation only underlunes the author's premise: the power of the Garza Sada family. . "Garza Sada Family It's very dangerous. (April 27, 2023). ." Mr. Armando Garza Sada serves as an Executive Vice President of Corporate Development of Grupo Industrial Alfa, SA de CV. Fax: +49 (0) 211 820-1846 Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. [1] He also served as ALFA's former president. : Grijalbo/Actualidad, 2006. The agreements allowed Hylsa to spend as much as $165 million over the next five years in capital expenditures, thereby giving it the opportunity to continue trying to compete in a crowded industry. Web site: http://www.usg.com . But there was a real problem as to who would be next supreme, so they juggled the shares within the family and divided the group., Under Bernardo Garza Sadas leadership Alfa diversified from its base into petrochemicals, synthetic fibers, capital machinery, farm equipment, television sets, and tourism. Armando Garza Sada is Chairman at Alfa Sab de CV. Himself a graduate of the Massachusetts Institute of Technology, Garza Sada staffed top management with graduates of MIT, Harvard, and the University of Pennsylvania's Wharton School of Business. About 70 percent of the foreign lenders agreed to exchange about $639 million of the debt for about $385 million in debt owed by Mexico itself and about $69 million in cash. Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. Eugenio Garza Sada - Wikipedia Just days before publication, 30 state police burst into the printer's shop and took off with 17,000 copies, the plates, the manuscript and the printer himself. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. Fax: ( +49 211) 824-36000 The book stunningly claims that the 1973 assassination of family patriarch Eugenio Garza Sada was not the work of leftist guerrillas, as the country had been led to believe, but had been ordere by some prominent members of the family. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. ", Another relative, also a member of Monterrey society, she describes as a typical Mexican macho always ready to show off his latest-model sports car or newest mistress. By the end of 1988 it had sold most of its food, and all of its tourism, real estate, and electric home-appliance holdings, retaining only two dozen subsidiaries. She is going mad, and the worst part is that she has money so it is difficult to stop her. Alfa in the Early 1990s. I've begun to understand the abuse of power and the alienation that comes from the need to gain more and more power through money. de C.V. (ALFA A) (Consumer Goods Conglomerates) 1,716,994,307: 35.6%: 1,085,964,559 USD The net worth of Bernardo Garza Sada and his family was estimated at $1.5 billion in 1996. The Order o, mathematics, astronomy, natural history. Presently, Juan Carlos Caldern Rojass is Deputy Director-Treasury Sales at Banco Nacional de Mxico SA. The Monterrey Group empire derived from the founding in Monterrey of Cerveceria Cuauhtemoc, a brewery, in 1890 by Isaac Garza Garza, his brother-in-law, Francisco Sada Muguerza, and two others. Employees :29,854 I can fight and write and pay lawyers. Alpex was Alfas biggest subsidiary, accounting for 44.5 percent of the parent companys revenues in 1996. In all, Alfa was operating ten petrochemical and synthetic fiber plants in 1995, seven steel plants and a service center, six refrigerated-food plants, two carpet and rug plants, two mattress plants, an aluminum cylinder-head plant, and two building supplies retail stores. Himself a graduate of the Massachusetts Institute of Technology, Garza Sada staffed top management with graduates of MIT, Harvard, and the University of Pennsylvania's Wharton School of Business. 208219. Family Tree . As an era of high prices for Mexico's oil exports suddenly came to an end, in late 1981 Alfa dropped its projection of earnings for the year from $80 million to $2 million. The Monterrey Group empire derived from the founding in Monterrey of Cerveceria Cuauhtemoc, a brewery, in 1890 by Jose Calderon Penilla, Isaac Garza Garza, and two others. Operating income was a record $425 million and special gains related to the debt restructuring and the pesos stabilization against the dollar added $575 million more. He also has participated in university and think tank boards, thus developing some knowledge of education and economic development. "We manage these ventures, always," Garza Sada told Forbes in 1979. Isaac married Consuelo Sada Muguerza, daughter of Francisco Sada Gmez, and in 1899 founded with his father-in-law Fbrica de Vidrios y Cristales de Monterrey, of which he became president. The corporate staff was slashed from 4,000 to 1,000, and later to 400. The settlement of Alfa's debt left unresolved Hylsa's own debt, which in 1988 reached $1.2 billion to 68 lenders, including about $300 million in overdue interest. "[2], As an era of high prices for Mexico's oil exports suddenly came to an end, in late 1981 Alfa dropped its projection of earnings for the year from $80 million to $2 million. Alfa received $2.4 billion in loans from more than 130 foreign creditors and was planning to invest $3.5 billion by the end of 1984, almost three-fifths of it in money to be borrowed, mostly from sources outside Mexico. Sectorial interests include, but is not limited to, Consumer Products, Financial Institutions and . Los benemritos de Nuevo Len. That year it sold its 51 percent stake in one of the Monterrey Groups oldest holdings, the paper and packaging subsidiary Empaques de Carton Titan. The untimely death of Eugenio Garza Sada, who was murdered in September 1973, served as a catalyst in breaking up the beer, glass, and steel empire into four separate, but complementary, holding companies. But I want a lot of ordinary people to read this book. In 1957 it patented HyL, a system of direct reduction known as fire sponging. Don Eugenio was shot in his car in the early morning of Sept 17, according to police, in a leftist kidnap attempt, according to Salinas' allegations, by hired gunmen. Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . Buoyant Domestic Sales Boost Grupo Alfa, El Financiero (English-language weekly edition), February 24-March 2, 1997, pp. These included the original brewery, Cervecera Cuauhtmoc; a bottling company, Hojalata y Lmina; and Empaques de Cartn Titn, a packaging firm. Husband of Mara Aurora Sepulveda. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). Isaac Garza Sada (deceased) - Genealogy Under cnsiderable pressure, a weekly magazine bowed out of serializing the book. Alfa's stake was held through its subsidiary AlfaTelecom, S.A. de C.V. Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees. Hylsa became the largest privately run steel mill in Mexico, a fully integrated complex with activities ranging from mining and processing iron ore to finished products. A 15-member board was named to govern the company, of which nine would be named jointly by the foreign banks and the Garza Sada family. Therefore, that information is unavailable for most Encyclopedia.com content. It is the global leader in the production of engine blocks and cylinder heads for American and European automakers; it is one of the largest PET and PTA producers in North America; and it is also a leader in the distribution of refrigerated foods in Mexico. Oil prices would know no limit. Ninfa Salinas Sada, Benjamn Salinas Sada, and Hugo Salinas Sada are his eldest children. Technical Rankings. By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. With a population of 2,495,200 (2005) and an area of 58,522 square miles, Coahuila lies south of Texas along, Garvie, Maureen 1944-(Maureen McCallum Garvie), https://www.encyclopedia.com/humanities/encyclopedias-almanacs-transcripts-and-maps/garza-sada-family. Its assets grew from $315 million to $1.5 billion between 1974 and 1978, its sales from $194 million to $836 million, and its income from $21 million to $83 million. A new flat-steel minimill was opened that year. Alestra began long-distance operations in Monterrey and Quertaro at the beginning of 1997 under the AT&T name. Although Alfa formed joint ventures with Hercules and American Petrofina to produce polyester, Du Pont to produce other synthetic fibers, Ford to turn out aluminum cylinder heads, and Hitachi to make electric motors, it insisted on control. Let's all cycle! Roberto Garza Sada (1895-1979) FamilySearch The Garza Sadas continue to be a dominant force among Mexican capitalists, as shareholders and board members of leading industrial firms, as members of entrepreneurial interest groups, as leaders of business organizations, and as managers of major industrial holding groups. It held 48 percent of the cold-rolled sheet market, 44 percent of the small-diameter pipe market, and 38 percent of the galvanized-sheet market in 1995. The Monterrey Group empire derived from the founding in Monterrey of Cerveceria Cuauhtemoc, a brewery, in 1890 by Isaac Garza Garza, his brother-in-law, Francisco Sada Muguerza, and two others. He has been chairman of CAINTRA (Nuevo Leon State Manufacturing Industry Chamber) and the . MarketScreener: Created by Investors for Investors! . She alleges, "But he always kept his wife pregnant as a fruit-bearing tree, inside her home, covered up to her nose so that no one else would desire her." Alfa, S.A. de C.V. is a holding company for subsidiaries engaged in telecommunications services and in producing, marketing, and distributing petrochemicals, synthetic fibers, steel and steel products, refrigerated foods, auto parts, carpets and rugs, mattresses, and building supplies.
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