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The Order o, mathematics, astronomy, natural history. An Insider's Telling Tales About Mexico's Richest Family . PDF Prospects in emerging markets drive CEO confidence - PwC Private Company 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. Fabiola Garza Sada - Biography The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. (April 27, 2023). A foreign bank representative recalled, "They were on the same kind of roll that the Mexican government was on then. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. And she claims further - "There are innocent people in jail blamed for Don Eugenio's assassination. It operated more than 70 distribution centers. [2], One of the two heads Eugenio Garza Sada, of the Monterrey Group, was murdered in 1973 in what was described as an abortive kidnapping by left-wing terrorists, but before this happened, he and his brother Roberto Garza Sada had divided the company into two parts. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. [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. 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. Sales :$6.07 billion (1997 est.) 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. U.S.A. 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. He . The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. What is garza sada family? | Technology Trends A frozen food plant and a cheese manufacturing facility were under construction. Privately, a family member told a reporter that Salinas had caused them "terrible headaches and had to be stopped even by force. It is this Armando Garza Sada Chairman of the Board of Directors, Alfa, S.A.B. 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. 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. window.__mirage2 = {petok:"DJKAqA11ycACRF3YkMEoyO6pFA5Md3QrRh5b2fnyp8s-86400-0"}; ", No member of the Garza Sada family has made statements to the press. These children, in turn, intermarried with other prominent Monterrey families, including the Laguera and Seplveda families. A1, A8. She is going mad, and the worst part is that she has money so it is difficult to stop her. 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. AlfaTelecom, S.A. de C.V.; Alpex, S.A. de C.V,; Dinamica, S.A. de C.V.; Hylsamex, S.A. de C.V.; Sigma Alimentos, S.A. de C.V.; Versax, S.A. de C.V. Blumenthal, Karen, Hylsas Debt of $1.2 Billion Is Restructured, Wall Street Journal, May 4, 1988, p. 4. That's why they need to be unmasked." 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 serves as Independent Director of the Company. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. The settlement of Alfas debt left unresolved Hylsas own debt, which in 1988 reached $1.2 billion to 68 lenders, including about $300 million in overdue interest. 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 2013, it was the seventh largest company of Mexico according to CNN Expansin.[1]. [2] In a statement released posthumously, ALFA called Garza Sada, "Leader and visionary businessman, promoter of education and social responsibility, driving force for the growth of the company and the country."[1]. Keep supporting great journalism by turning off your ad blocker. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. 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. International Directory of Company Histories. Public Subsidi, Alexius the Studite, Patriarch of Constantinople, Alexius Ritter von Handschuchsheim Meinong, https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv. Except that school has been there for 10 years. Cemex S.A.B. There had been frequent passionate in-fighting behind the facade of family unity, now it turned into a rift. de C.V., Grupo Lamosa, S.A.B. Bernardo Garza Sada. Cite this article Pick a style below, and copy the text for your bibliography. Alfa in the Early 1990s. Then police raided the author's home, seized her private copies and charged the book was "vulgar" and "libelous.". These included the original brewery, Cervecera Cuauhtmoc; a bottling company, Hojalata y Lmina; and Empaques de Cartn Titn, a packaging firm. Copyright 2023 Surperformance. 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. Expecting problems, Salinas says she decided to write the book secretly. D-40213 Dsseldorf By 1980 it had 157 subsidiaries in 39 branches of the economy. Grupo Alfa profits would know no limit.. It's very dangerous. Family Tree . Garza Sada Family de C.V., a public company with a business portfolio that includes refrigerated food, petrochemicals, aluminum auto parts, IT and communications, and hydrocarbons, with operations in 28 countries. Armando Garza Sada (deceased) - Genealogy 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. "We manage these ventures, always," Garza Sada told Forbes in 1979. 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. 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 also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. 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. How they act, what sort of judgment they have. But this is how things are done high up. 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. Bernardo Garza Sada, a nephew of Eugenio, 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. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. However, the date of retrieval is often important. 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. 1144 East Market Street lvaro Fernndez Garza is a businessperson who has been the head of 6 different companies and currently holds the position of Co-Chairman for AXTEL SAB de CV, General Director at Grupo Alfa (Spain) and President, Chief Executive Officer & Director at Alfa SAB de CV. 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. Around 150,000 people attended Don Eugenia's funeral, which was a virtual declaration of war against Echeverria by a private sector already suspicious of the mildly reformist president and his inflationary spending. Garza Sada Family - ARTnews.com 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. Dsseldorf, 40211 de C.V., also known as Alfa or Alfa Group, is a Mexican multinational conglomerate headquartered in Monterrey, Mexico. Telephone: (903) 855-1000 Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. Armando Garza Sada serves as Independent Director of the Company. The company recorded the most profitable year of its history in 1988. Brother of Bernardo Garza Sada, founder of the ALFA . Ori, Coahuila, third largest state in Mexico. Alfa, S.A. de C.V. | Encyclopedia.com This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. Language links are at the top of the page across from the title. In 1936 the family holdings, already vast, were divided into two separate industrial groups. It was not only the leading private firm in Mexico but in all of Latin America. Another son, Isaac, took over another set of firms, and also developed his own businesses. Nadie supo nada: La verdadera historia del asesinato de Eugenio Garza Sada. Don Roberto Garza Sada: La pasin por la excelencia. 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. Death: Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. Web site: http://www.mannesmann.com Let's all cycle! 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. The Chosen Instruments, Forbes, October 29, 1979, pp. Fax: +49 (0) 211 820-1846 Name: Equities % Valuation: Alfa S.A.B. 2019Encyclopedia.com | All rights reserved. Eugenio Garza Sada : Family tree by Seminario de Genealoga Mexicana In Vino Veritas. 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." 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. Grupo Alfa profits would know no limit.". 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). 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. Alfa, S.A. de C.V. -- Company History de C.V. (ALFA A) (Consumer Goods Conglomerates) 1,716,994,307: 35.6%: 1,085,964,559 USD "We demand that!" 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. 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. . de C.V., known as Cemex, is a Mexican multinational building materials company headquartered in San Pedro, near Monterrey, Mexico. Telephone: (312) 606-4000 In 1982 the Mexican economy hit the rocks. req.] International Directory of Company Histories. Roberto Garza Sada (1895-1979) FamilySearch Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Privacy Policy. Then, copy and paste the text into your bibliography or works cited list. ", Salinas suspects that her relatives will want to ruin her economically, although "that will take them a while. By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. de C.V., a listed corporation in Mexico with operations in 23 countries, and a business portfolio that includes petrochemicals, refrigerated food, telecommunications, IT and energy. 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. Alfa was a party to 11 joint ventures with foreign companies. //]]>, 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. Pittsburg, Texas 75686-0093 After Garza graduated from the Massachusetts . In retrospect, following Alfas near-bankruptcy in 1982, Alfas success bred arrogance. P, MacAndrews & Forbes Holdings Inc. 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. The corporate staff was slashed from 4,000 to 1,000, and later to 400. HYLSA, the steel works, was not sold to the government; the family rift became clear as the conglomerate split into several groups. [2], 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. Chairman of the Board, Alfa. 17, 25. Before that, he was the director for . Alex Saragoza, The Monterrey Elite and the Mexican State, 18801940 (1988). He has been chairman of CAINTRA (Nuevo Leon State Manufacturing Industry Chamber) and the . "I had to undress myself first, otherwise 'Our Group' could be discredited by people trying to expose me.". 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. In 1957 it patented HyL, a system of direct reduction known as fire sponging. It is a diversified group of businesses, mainly industrial, that produces petrochemicals, aluminum auto components, and refrigerated foods. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). 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." Born in 1957, he joined ALFA in 1978. Alfa's total debt was 18.5 billion pesos ($2.7 billion). It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. ." de C.V., a public company with a business portfolio that . Under a complex arrangement, the creditor banks forgave $920 million in Alfas debt in return for 45 percent of its stock. "There is no falling out," one source explained to the New York Times. After receiving his first educatio, Jos Hernndez [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. U.S.A. Then, copy and paste the text into your bibliography or works cited list. 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. Garza Sada is currently the Chairman of the Board of Directors of ALFA, S.A.B. The Alfa man had to look good on paper.. 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. Alfa's stake was held through its subsidiary AlfaTelecom, S.A. de C.V. 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. It soon set up its own glass . Encyclopedia.com. Fax: (903) 856-7505 . Medina, Enriqueta, and Federico Arreola. Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. There is no falling out, one source explained to the New York Times. Public, The Goodyear Tire & Rubber Company A new flat-steel minimill was opened that year. 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). They know of course as long as I have money. It was not only the leading private firm in Mexico but in all of Latin America. Encyclopedia.com. 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. Oversold stocks. Eugenio Garza Sada 1892-1973 Married 16 April 1921, Monterrey, Nuevo Len, Mxico, toConsuelo Josefina Lagera Zambrano 1901; Armando Sada is 62, he's been the Independent Director of Cemex S.A.B. 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. lvaro Fernndez Garza. De C.V. Husband of Margarita G Sada Garcia. 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. 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. CEMEX, S.A.B. DE C.V. : Shareholders Board Members Managers and Company https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv, "Alfa, S.A. de C.V. ALFFF: Get the latest Alfa SAB de C stock price and detailed information including ALFFF news, historical charts and realtime prices. Armando Garza Sada is Chairman of the Board at Grupo ALFA. Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. de C.V., Axtel, S.A.B. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . Whatever the truth about the Garza Sada killing, it was a turning point in the Echeverria regime. Father of Private User; Private and Private. Gold and Silver. Language links are at the top of the page across from the title. The Life Summary of Roberto. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. Mr. Armando Garza Sada serves as an Executive Vice President of Corporate Development of Grupo Industrial Alfa, SA de CV. Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees. of which nine would be named jointly by the foreign banks and the Garza Sada family. Incorporated :1984 All of these conglomerates rank among the top fifty companies in Mexico. Located between Mexico and Jalisco, it has a population of 3,966,073 (2005) and its capital is Morelia. "We manage these ventures, always", Garza Sada told Forbes in 1979. Under cnsiderable pressure, a weekly magazine bowed out of serializing the book. After studying merchandizing in Santander, Spain, he went into the grocery business with Jos Caldern, who married his aunt. Debtwire's shareholder profile of the Garza Sada family - (Alfa, Femsa
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