Cite this article Pick a style below, and copy the text for your bibliography. Alfa's subsidiary Alpex, S.A. de C.V. was engaged in the manufacture of petrochemicals and synthetic fibers for use primarily as raw materials in the textile, food, beverage, packaging, construction, and automotive industries. ALFFF: Get the latest Alfa SAB de C stock price and detailed information including ALFFF news, historical charts and realtime prices. Germany 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. ", No member of the Garza Sada family has made statements to the press. de C.V., Grupo Lamosa, S.A.B. Salinas did not leave her home for three weeks. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. "Alfa, S.A. de C.V. Encyclopedia of Latin American History and Culture. Armando Sada is 62, he's been the Independent Director of Cemex S.A.B. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. ", Salinas says nothing can hold her back. 4449, 52. All rights reserved. Franco Senz, Hctor. [2], Sigma Alimentos, S.A. de C.V. (formerly Salumni, S.A. de C.V.), which distributed Oscar Mayer and its own brand of packaged meat and other food products, enjoyed 36 percent of domestic market share in processed meats in 1995. The corporate staff was slashed from 4,000 to 1,000, and later to 400. Don Roberto Garza Sada: La pasin por la excelencia. 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. https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv, "Alfa, S.A. de C.V. de C.V. (ALFA A) (Consumer Goods Conglomerates) 1,716,994,307: 35.6%: 1,085,964,559 USD Fax: (330) 796-2222 The Alfa man had to look good on paper.. 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. 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. In Vino Veritas. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income fell to 444 million pesos ($130 million). Born in 1957, he joined ALFA in 1978. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. de C.V., a public company with a business portfolio that . Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. 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. "Mexican Businessman Bernardo Garza Sada Dies", "Mexican magnate Bernardo Garza Sada dies at 79", "Muere el empresario Bernardo Garza Sada", https://en.wikipedia.org/w/index.php?title=Bernardo_Garza_Sada&oldid=1147935076, Massachusetts Institute of Technology alumni, Articles with dead external links from April 2023, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 3 April 2023, at 03:52. Alestra began long distance operations in Monterrey and Queretaro at the beginning of 1997 under the AT&T name. The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. But as successive Mexican administrations cried for rapid industrialization and the "group" with government support, expanded it became the nation's most powerful political lobby, speaking for the moneyed classes of Mexico. Fax: (312) 606-4093 Husband of Margarita G Sada Garcia. At Alfa, we serve our markets "from the bottom up"; that is, we try to discover or anticipate, as precisely as possible, what the needs of our customers are, so as to provide the best solution. However, the date of retrieval is often important. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). In 1982 the Mexican economy hit the rocks. Telephone: ( +49 211) 824-0 Riding, Alan, Monterrey Group: A Family of Wealth and Symbol of Economic Independence, New York Times, October 21, 1974, p. 53. 4845 U.S. Highway 271 North 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. ", Salinas suspects that her relatives will want to ruin her economically, although "that will take them a while. [1], Garza Sada, a graduate of the Massachusetts Institute of Technology (MIT),[3] is credited with turning Grupo Alfa into a diversified conglomerate with revenues of $10.6 billion USD in 2008. "[2], Under Bernardo Garza Sada's leadership Alfa diversified from its base into petrochemicals, synthetic fibers, capital machinery, farm equipment, television sets, and tourism. Private Company Grupo Alfa profits would know no limit. 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. Petrochemicals, aluminum auto parts, refrigerated foods, telecommunications. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). These included the original brewery, Cervecera Cuauhtmoc; a bottling company, Hojalata y Lmina; and Empaques de Cartn Titn, a packaging firm. Telephone: (312) 606-4000 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. Most online reference entries and articles do not have page numbers. 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. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. Irma Salinas, 57, and her kin about whom she writes are the industrial barons of Monterrey, some members of the Garza Sada family, whose name is as familiar in Mexico as Rockefeller in the United States. "It was all part of a plan," she says. 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. 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. Roberto Garza Sada (1895-1979) FamilySearch Chicago, Illinois 60606-4678 Armando Garza Sada: ALFA S.A.B. de C.V. and Grupo Proeza, S.A.P.I. Five leftist guerrillas, charged with "plotting the kidnapping," have been in Monterrey jail for 4 1/2 years without trial or sentence. 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." "It's something I had to do," says Salinas. The Alfa man had to look good on paper."[2]. Two of her eight children, directors in family companies, have been forced to resign, she claims, while one of her researchers has been beaten up and threatened. [1] International Directory of Company Histories. "Garza Sada Family 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. 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. In 1936 the family holdings, already vast, were divided into two separate industrial groups. In 1982 the Mexican economy hit the rocks. He married Margarita Sada Garca on 11 February 1921, in Monterrey, Nuevo Len, Mexico. Fax: +49 (0) 211 820-1846 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. Alfas subsidiary Alpex, S.A. de C.V. was engaged in the manufacture of petrochemicals and synthetic fibers for use primarily as raw materials in the textile, food, beverage, packaging, construction, and automotive industries. 19. 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. 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. Germany : Grijalbo/Actualidad, 2006. Father of Mara Aurora Garza Sepulveda; Manuela Garza Sepulveda; Isaac Garza Sepulveda; Lorenzo Garza Sepulveda and Javier Garza Sepulveda. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. 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. [2], Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. Therefore, that information is unavailable for most Encyclopedia.com content. It operated more than 70 distribution centers. St. James Press, 1998, This page was last edited on 22 April 2023, at 14:09. A1, A8. Sigenzas father was tutor to Prince Baltazar before going to New Spain. ." It also participates in the extraction of oil and natural gas, and offers IT & telecom services. [2], Alfa's subsidiary Alpek, S.A. de C.V. was engaged in the manufacture of petrochemicals and synthetic fibers for use primarily as raw materials in the textile, food, beverage, packaging, construction, and automotive industries. "Garza Sada Family As consumers, we often take for granted all the hard work that goes into building a great company. 2019Encyclopedia.com | All rights reserved. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. Juan Carlos Caldern Rojass - Biografa Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). 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. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. 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. Armando Garza Sada, Chairman of the . Then, copy and paste the text into your bibliography or works cited list. 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. "Alfa, S.A. de C.V" International Directory of Company Histories, Vol. De C.V. is Everardo ElizondoAlmaguer, 76, who is the Independent Director. de C.V., all of which are public companies, as well as Instituto Tecnolgico y de Estudios Superiores de Monterrey. The unexpected author is a mother of eight and grandmother of 17. Death: Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. 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). Gold and Silver. Mexico, D.F. A new flat-steel minimill was opened that year. 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. There are no family members in important executive positions", Business Latin America wrote, "and this . Garza Sada Family - Biography - MarketScreener.com Let's all cycle! Garza Sada Family: 35.63: Government Pension Fund - Global . 208219. Whatever the truth about the Garza Sada killing, it was a turning point in the Echeverria regime. Twitter 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). 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. It was not only the leading private firm in Mexico but in all of Latin America. We would like to show you a description here but the site won't allow us. In 1996 Alfa formed a joint venture with Valores Industriales, Bancomer (Mexicos second largest bank), and AT&T to enter the Mexican long distance telephone market in competition against Telefonos de Mexico. There is no falling out, one source explained to the New York Times. to hold my teacher in this art equal to my own parents; to make him partner in my livelihood; when he is in need of money to share mine with him; to consider his family as my own brothers and to teach them this art, if they want to learn it, without fee or indenture. . 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. 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. 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. Bloomberg Markets Americas. Pick a style below, and copy the text for your bibliography. Himself a graduate of the Massachusetts Institute of Technology, Garza Sada staffed top management with graduates of MIT, Harvard, and the University of Pennsylvanias Wharton School of Business. In retrospect, following Alfas near-bankruptcy in 1982, Alfas success bred arrogance. How they act, what sort of judgment they have. "My children were furious about the first book. Alfa's total debt was 18.5 billion pesos ($2.7 billion). 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. NAIC :32562 Toilet Preparatio, 125 South Franklin Street Oil prices would know no limit. 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. Armando Garza Sada - The Trilateral Commission ." In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. Privacy Policy. De C.V since 2018. 20th-century Mexican art Icon Link Plus Icon; Icon Link Plus Icon; 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. Death: December 13, 1979 (84) Monterrey, Nuevo Leon, Mexico. Therefore, its best to use Encyclopedia.com citations as a starting point before checking the style against your school or publications requirements and the most-recent information available at these sites: http://www.chicagomanualofstyle.org/tools_citationguide.html. Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. 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). We already start the application period for the 3rd generation of Dandelions! Dionisio Garza Sada Sada (born August 8, 1928), Mexican part of the de C.V., Fomento Econmico Mexicano, S.A.B. Eugenio Garza Sada 1892-1973 Married 16 April 1921, Monterrey, Nuevo Len, Mxico, toConsuelo Josefina Lagera Zambrano 1901; Another son, Isaac, took over another set of firms, and also developed his own businesses. Retrieved April 27, 2023 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv. "It took 3 1/2 months. de C.V., Mexico 14th Annual Global CEO Survey Interview Transcripts . 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. Public, The Goodyear Tire & Rubber Company International Directory of Company Histories. A new flat-steel minimill was opened that year. He is the heir of the family that controls the Fomento Economico Mexicano SA (FEMSA) and the Grupo Financiero Bancomer SA. Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees. I will soon write another book showing the moral decay of our ruling class.". "We manage these ventures, always", Garza Sada told Forbes in 1979. Hylsamexs revenues accounted for nearly one-third of Alfas in 1995 (and 35 percent in 1996), but its net income in 1995 was only 12 percent of the groups total. 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. Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. They know of course as long as I have money. [CDATA[ Bernardo Garza Sada - Wikipedia "So if the secret, passionate encounters came to a halt," she writes, "his tequila business received powerful injections of capital. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. Isaac Garza Sada. 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. 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. Armando Garza Sada Net Worth (2023) | wallmine Alpek was Alfa's biggest subsidiary, accounting for 44.5 percent of the parent company's revenues in 1996. 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. [1], Garza Sada also championed the modernization of Monterrey Institute of Technology, one of Mexico's most important private universities. 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. Expecting problems, Salinas says she decided to write the book secretly. The 10 richest families in Mexico - The Mazatlan Post Now, she says, she is a virtual outcast in Monterrey where friends and relatives either completely avoid her or send notes saying , "Congratulations, but you must understand I can't be seen talking to you." [2] Additionally, Garza Sada was a member of the company's board of directors for two decades. 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. Garza Sada Family | Encyclopedia.com [1] He was survived by his wife and three children. 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. 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. Armando Garza Sada is Chairman of the Board at Grupo ALFA. 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." Also, he held executive positions at ALFA, Polioles and Selther. It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. In retrospect, following Alfa's near-bankruptcy in 1982, Alfa's success bred arrogance. "They also said that Martha Mitchell was mad. 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). 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. Much, Marilyn, Mexico: The Long Road Back, Industry Week, August 8, 1983, pp. International Directory of Company Histories. Encyclopedia of Latin American History and Culture. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. Alfa, S.A. de C.V. | Encyclopedia.com The Life Summary of Roberto. 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. ." . 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. ." Echeverria's supporters, in turn, charged the "Monterrey Group" had a guiding hand in the rapid weakening of the economy by starting the massive flight of capital - $4 left Mexico within a short period - and precipitating the peso devaluation. One observer said that Alfa "bought businesses like someone would buy candies for their children." 2023 . Web site: http://www.mannesmann.com See Armando Garza Sada's compensation, career history, education, & memberships. 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). Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. Don Eugenio, Salinas writes, understood and agreed to inform the other industrial captains. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. 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. It's very dangerous. Augustinians, a Roman Catholic religious order of priests and brothers named after the fifth-century bishop and saint Augustine of Hippo. This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. We demand that! 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. 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. (Sada died a few years ago is a diving accident in the Carribean.) 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. Alfa's total debt was 18.5 billion pesos ($2.7 billion). It operated more than 70 distribution centers.
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