garza sada family alfa

After Eugenio Garza Sada, head of the Monterrey Group, was murdered in 1973 in what was described as an abortive kidnapping by left-wing terrorists, the family empire broke into four parts. Or purchase a subscription for unlimited access to real news you can count on. Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. [1], Bernardo Garza Sada died at his home in Monterrey, Nuevo Len, Mexico, on November 7, 2009, at the age of 79. In 1995 Alfa returned to profitability, with net income of 2.09 billion pesos ($307 million) on net sales of 21.52 billion pesos ($3.16 billion). https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv, "Alfa, S.A. de C.V. In 1982 the Mexican economy hit the rocks. In 1995 Alfa returned to profitability, with net income of 2.09 billion pesos ($307 million) on net sales of 21.52 billion pesos ($3.16 billion). 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 Telefonos de Mexico. Web site: http, Mannesmannufer 2 Camp, Roderic, Entrepreneurs and Politics in Twentieth-CenturyMexico, New York: Oxford University Press, 1989, pp. de C.V., a public company with a business portfolio that . Refer to each styles convention regarding the best way to format page numbers and retrieval dates. 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. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. 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. "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. Mr. Armando Garza Sada serves as an Executive Vice President of Corporate Development of Grupo Industrial Alfa, SA de CV. Don Roberto Garza Sada: La pasin por la excelencia. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. 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. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The Larrea family is the second richest family in Mexico according to Forbes magazine. Web site: http://www.pilgrimspride.com St. James Press, 1998. And anyway, all the private things I write, everyone knows about in Monterrey - employes, wives, servants. Let's all cycle! Incorporated :1984 However, the date of retrieval is often important. Technical Rankings. Garza Sada Family, major Mexican entrepreneurial family. Son of Roberto Garza Sada, prominent businessman and President of the Board of General Aceptaciones, and Margarita Sada, daughter of Francisco de Paula Sada Muguerza, secretary of the Treasury, 1920. . One observer said that Alfa bought businesses like someone would buy candies for their children. A foreign bank representative recalled, They were on the same kind of roll that the Mexican government was on then. In 2013, it was the seventh largest company of Mexico according to CNN Expansin.[1]. Alfa was a party to 11 joint ventures with foreign companies. I will soon write another book showing the moral decay of our ruling class.". ALFFF: Get the latest Alfa SAB de C stock price and detailed information including ALFFF news, historical charts and realtime prices. A new flat-steel minimill was opened that year. Although she is a millionaire in her own right (having inherited her father's department store chain) she was deeply shocked to find out what life was like with "the untouchable Monterrey Royalty," who have politicians at their call. It was also engaged in the manufacture of raw materials used in the production of polyester fibers and polymer products and in the manufacture of specialty chemical products. Pick a style below, and copy the text for your bibliography. After Eugenio Garza Sada, head of the Monterrey Group, was murdered in 1973 in what was described as an abortive kidnapping by left-wing terrorists, the family empire broke into four parts. Name: Equities % Valuation: Alfa S.A.B. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. ." International Directory of Company Histories. Cite this article Pick a style below, and copy the text for your bibliography. Father of Private User; Private and Private. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). "[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. "It was all part of a plan," she says. "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. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. He has been a member of CEMEX, S.A.B. He was President of Versax and of Sigma. 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. We already start the application period for the 3rd generation of Dandelions! Not just a few insiders, the politicians or the businessmen. Telephone: (903) 855-1000 The huge conglomerates now embrace chemical, steel and cement Plants, textiles, television, two nationwide banking chains and employ 80,000 people. Salinas' excursions into the family closets and the dirty linen, even the skeletons that she claims, have all the makings of a best-seller - a best-seller, that is, had the book not disappeared. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. [1], Garza Sada also championed the modernization of Monterrey Institute of Technology, one of Mexico's most important private universities. Augustinians, a Roman Catholic religious order of priests and brothers named after the fifth-century bishop and saint Augustine of Hippo. In 1957 it patented HyL, a system of direct reduction known as fire sponging. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. The net worth of Bernardo Garza Sada and his family was estimated at $1.2 billion in 1996. The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. Medina, Enriqueta, and Federico Arreola. de C.V.'s Board of Directors and corporate practices and finance committee since March 26, 2015. . 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. In 1978 Alfa was the only Mexican company in the Fortune 500 list of the biggest companies outside the United States, except for state-owned Petroleos de Mexico (Pemex). With most shares held among the myriad Garza Sada relatives and descendants, composition of ownership of the "Monterrey Group," as it is known, remained hidden. P, MacAndrews & Forbes Holdings Inc. de C.V., also known as Alfa or Alfa Group, is a Mexican multinational conglomerate headquartered in Monterrey, Mexico. "People have to know about those that have the economic power in Mexico. Again, Don Eugenio agreed and, in so doing caused a great uproar within the family. Armando Garza Sada: ALFA S.A.B. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. Alfa is listed on the Mexican Stock Exchange and the Latibex, the Latin American market in the Madrid Stock Exchange. U.S.A. Alfas total debt was 18.5 billion pesos ($2.7 billion). window.__mirage2 = {petok:"DJKAqA11ycACRF3YkMEoyO6pFA5Md3QrRh5b2fnyp8s-86400-0"}; 2023 . In addition, foreign lenders who were owed $273 million and Mexican banks holding about $301 million in Hylsa debt agreed to stretch out the loan repayments over 15 years and received 21 percent of Hylsa's common stock. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. Fax: (312) 606-4093 "There are no family members in important executive positions," Business Latin America wrote, "and this has contributed to a more professional and predictable management style.". Public Compa, August-Thyssen-Strasse 1 One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. Ninfa Salinas Sada, Benjamn Salinas Sada, and Hugo Salinas Sada are his eldest children. "It took 3 1/2 months. Biography. He served as the President of Alestra, S. de R.L. With other partners, he established a number of major firms at the turn of the century, including Cervecera Cuauhtmoc (1890), whose partners, often related by marriage, included Jos A. Muguerza and Francisco Sada, and the Fundidora de Fierro y Acero, with Vicente Ferrara. Encyclopedia.com. Copyright (c) 2022 Company-Histories.com. 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. Brother of Jacobo Garza Sada; Private User; Private User; Private and Rogelio Garza Sada. Brother of Bernardo Garza Sada, founder of the ALFA . 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. 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. "[2], Under Bernardo Garza Sada's leadership Alfa diversified from its base into petrochemicals, synthetic fibers, capital machinery, farm equipment, television sets, and tourism. In retrospect, following Alfa's near-bankruptcy in 1982, Alfa's success bred arrogance. Encyclopedia of Latin American History and Culture. I'm still exhausted from it.". de C.V., Axtel, S.A.B. 3738. [1][2] Alfa also produces televisions, machinery, and has assets in Mexico's tourism sector. It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. They were the parents of at least 4 sons and 1 . 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. Therefore, that information is unavailable for most Encyclopedia.com content. [1] The performance at the highest corporate level of Mr. Garza Sada in companies in the manufacturing sectors provides CEMEX, S.A.B. His government, Echeverria is reported to have said, must adopt the apparent position of defending the masses and turning against the entrepreneurs. Ori, Coahuila, third largest state in Mexico. One of these, Valores Industriales S.A. (Visa), established Hojalata y Laminas S.A. (Hylsa) to make steel sheet for the bottle caps of its beverages during World War II, when the United States cut steel supplies to Mexico to meet its own needs. Alpex was Alfas biggest subsidiary, accounting for 44.5 percent of the parent companys revenues in 1996. Pick a style below, and copy the text for your bibliography. He has been chairman of CAINTRA (Nuevo Leon State Manufacturing Industry Chamber) and the . [2] Additionally, Garza Sada was a member of the company's board of directors for two decades. 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. Moffett, Matt, Mexico Conglomerate Cuts Costs and Learns Theres Life After Debt, Wall Street Journal, July 26, 1989, pp. "The great absolutely pagan parties they gave could always keep the appearance of charity thanks to the ingenuous Franciscan monks who would attach their names to such events," Salinas writes. 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. De C.V. Born in 1957, he joined ALFA in 1978. He also has participated in university and think tank boards, thus developing some knowledge of education and economic development. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. My own children were cheated out of their inheritance. "There is no falling out", one source explained to The New York Times. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . It operated more than 70 distribution centers. 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. Eugenio Garza Sada 1892-1973 Married 16 April 1921, Monterrey, Nuevo Len, Mxico, toConsuelo Josefina Lagera Zambrano 1901; Fernndez Menndez, Jorge. Debtwire's shareholder profile of the Garza Sada family - (Alfa, Femsa, Vitro, Cydsa) - looks at it ties to other Mexican business clans including Salinas (Elektra, TV Azteca), Zambrano (Cemex) and Servitje (Bimbo). All of these conglomerates rank among the top fifty companies in Mexico. After receiving his first educatio, Jos Hernndez Bernardo Garza Sada (1930 - 7 November 2009) was a Mexican businessman who founded the Grupo ALFA conglomerate in 1974. 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. 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. Copyright 2023 Surperformance. Alfas stake was held through its subsidiary AlfaTelecom, S.A. de C.V. It is the largest of the four holding companies that constitute the Monterrey Group, which encompasses the holdings of the extended Garza Sada family, Mexicos wealthiest. Mexico, D.F. Whatever the truth about the Garza Sada killing, it was a turning point in the Echeverria regime. A low-cost steel producer that invested $982 million between 1990 and 1996 to modernize its facilities, it had the most diversified product line in Mexico's steel industry and was making products for use in the construction, auto parts, and home appliance industries. of which nine would be named jointly by the foreign banks and the Garza Sada family. Fax: (903) 856-7505 Alestra began long-distance operations in Monterrey and Quertaro at the beginning of 1997 under the AT&T name. It was not only the leading private firm in Mexico but in all of Latin America. [CDATA[ Sociedad Annima Burstil de Capital Variable, "Alfa, Harbour Energy to buy Pacific Rubiales for C$6 billion", https://en.wikipedia.org/w/index.php?title=ALFA_(Mexico)&oldid=1151195256, Manufacturing companies based in Monterrey, Conglomerate companies established in 1974, Manufacturing companies established in 1974, Multinational companies headquartered in Mexico, Non-renewable resource companies established in 1974, Companies listed on the Mexican Stock Exchange, Companies listed on the Madrid Stock Exchange, Articles with obsolete information from November 2015, All Wikipedia articles in need of updating, Creative Commons Attribution-ShareAlike License 3.0, aluminum auto components, petrochemicals, refrigerated foods, oil and natural gas, "Alfa, S.A. de C.V" International Directory of Company Histories, Vol. "It's something I had to do," says Salinas. In 1957 it patented HyL, a system of direct reduction known as fire sponging. "My children were furious about the first book. Many of the lower-management people had no practical experience, while the experienced upper management took charge of firms about which they knew very little. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. One of these, Valores Industriales S.A. (Visa), established Hojalata y Laminas S.A. (Hylsa) to make steel sheet for the bottletops of its beverages during World War II, when the United States cut steel supplies to Mexico to meet its own needs. SAN PEDRO GARZA GARCIA, Mexico, March 7, 2022 /PRNewswire/ -- ALFA S.A.B. In 1936 the family holdings, already vast, were divided into two separate industrial groups. Currently, he is a member of the Board of Directors of Alpek, S.A.B. Therefore, that information is unavailable for most Encyclopedia.com content. International Directory of Company Histories. Nadie supo nada: La verdadera historia del asesinato de Eugenio Garza Sada. Her secretary and researchers would continue the work in the daytime. Under cnsiderable pressure, a weekly magazine bowed out of serializing the book. Many of the lower-management people had no practical experience, while the experienced upper management took charge of firms about which they knew very little. As consumers, we often take for granted all the hard work that goes into building a great company. A frozen food plant and a cheese manufacturing facility were under construction. It operated more than 70 distribution centers. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). 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. Fax: +49 (0) 211 820-1846 4 likes, 0 comments - Guaguacoa Carrizalejo (@guaguacoacarrizalejo1) on Instagram: "Nos encontramos sobre la ave Gmez Morin 2003 L-1 en la Plaza Carrizalejo . Cemex S.A.B. Grupo Alfa profits would know no limit. That year it sold its 51 percent stake in one of the Monterrey Group's oldest holdings, the paper and packaging subsidiary Empaques de Carton Titan. In 1957 it patented HyL, a system of direct reduction known as fire sponging. Armando Garza Sada is Chairman at Alfa Sab de CV. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. Alestra began long distance operations in Monterrey and Queretaro at the beginning of 1997 under the AT&T name. de C.V. (BMV: ALFAA) ("ALFA") held its Annual General Shareholders' meeting today. de C.V. (ALFA A) (Consumer Goods Conglomerates) 1,716,994,307: 35.6%: 1,085,964,559 USD Eugenio, the oldest of this generation, took over the leadership of a major group of interlocking corporations, which became known popularly as the "Monterrey Group." de C.V. Some family members had, according to well-placed sources, got hold of several chapters and without bothering to go to court had allegedly used their influence with the police. Eugenio Garza Sada (January 11, 1892 - September 17, 1973) was an industrialist in the city of Monterrey, Mexico best known for founding the Instituto Tecnologico y de Estudios Superiores de Monterrey (ITESM) school system in the country. Rosario Garza Sada, Roberto Garza Sada, Eugenio Garza Sada, Consuelo Garza Sada, . It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. [2] ALFA currently consists of four major operations and consortia as of 2009 - Alpek, which produces petrochemicals and synthetic fiber; Sigma, which manufactures food; Nemak, which builds automotive parts; and Alestra, which consists of ALFA's telecommunications arm. Most online reference entries and articles do not have page numbers. The corporate staff was slashed from 4,000 to 1,000, and later to 400. 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. Death: Immediate Family: Son of Jacobo Garza Sepulveda and Maria luisa Sada Rodrguez. Garza Sada Family Monterrey, Mexico. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. 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. 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. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. A new flat-steel minimill was opened that year. 1144 East Market Street Expecting problems, Salinas says she decided to write the book secretly. Discover the family tree of Eugenio Garza Sada for free, and learn about their family history and their ancestry. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. learn how over 7,000 companies got started! [2], 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. It was not only the leading private firm in Mexico but in all of Latin America. 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. 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). Salinas did not leave her home for three weeks. He . In 1936 the family holdings, already vast, were divided into two separate industrial groups. 27 Apr. Under a complex arrangement, the creditor banks forgave $920 million in Alfas debt in return for 45 percent of its stock. 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. 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. Operating income was a record $425 million and special gains related to the debt restructuring and the peso's stabilization against the dollar added $575 million more. 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. U.S.A. Bernardo Garza Sada (1930 7 November 2009) was a Mexican businessman who founded the Grupo ALFA conglomerate in 1974. Garza Sada is currently the Chairman of the Board of Directors of ALFA, 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. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. Mr. Garza Sada is member of the boards of ALFA, FEMSA, Gigante, Liverpool, Lamosa, CYDSA, Frisa, ITESM, MVS and The Mexican Stock Exchange. [2], The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. 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. : Grijalbo/Actualidad, 2006. Once Echeverria became president, she goes on, he began to press Don Eugenio to sell HYSA, the "group's "most powerful industry, producing 1.3 million tons of steel per year. A frozen food plant and a cheese manufacturing facility were under construction. Aside from the sober, political sections of the book, Salinas uses a sharp tongue and a very personal style to describe the exclusive, tight knit family which she entered by marrying Roberto G. Sada, grandson of one of the founders of the Garza Sada empire. Eugenio Garza Lagera is 72 years old. req.] 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). Mr. Garza Sada is the Chairman of the Board of Directors of Alfa, S.A.B. [2], Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. //

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