Mr. Garza Sada holds a Bachelors degree from the Massachusetts Institute of Technology and an M.B.A. from Stanford University. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . 1144 East Market Street Oil prices would know no limit.
Isaac Garza Garza - Wikipedia These children, in turn, intermarried with other prominent Monterrey families, including the Laguera and Seplveda families. All rights reserved. Web site: http://www.usg.com "Our Group" gives a rare view behind the respectable facade of Mexican society where some characters with private chapels in their homes also, the author alleges, lead hedonist lives, have long affairs and illegitimate children. Birthplace: Monterrey, Nuevo Leon, Mexico. 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. Before that, he was the director for . Alfa is listed on the Mexican Stock Exchange and the Latibex, the Latin American market in the Madrid Stock Exchange. 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. Another son, Isaac, took over another set of firms, and also developed his own businesses. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income fell to 444 million pesos ($130 million). Gold and Silver. Fabiola Garza Sada is on the board of Nemak SAB de CV, Alfa Fundacin and Controladora Nemak SAB de CV. . Name: Equities % Valuation: Alfa S.A.B. 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. 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. Born in 1957, he joined ALFA in 1978. //]]>, 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. 1, 31. And anyway, all the private things I write, everyone knows about in Monterrey - employes, wives, servants. The Alfa man had to look good on paper.". De C.V. is Everardo ElizondoAlmaguer, 76, who is the Independent Director. And she claims further - "There are innocent people in jail blamed for Don Eugenio's assassination. Don Roberto Garza Sada: La pasin por la excelencia. In retrospect, following Alfa's near-bankruptcy in 1982, Alfa's success bred arrogance. Alfa's total debt was 18.5 billion pesos ($2.7 billion). Buoyant Domestic Sales Boost Grupo Alfa, El Financiero (English-language weekly edition), February 24-March 2, 1997, pp. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. de C.V.s Board of Directors and corporate practices and finance committee since March 26, 2015. "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. de C.V., BBVA Bancomer, Nemak S.A.B. The performance at the highest corporate level of Mr. Garza Sada in companies in the manufacturing sectors provides CEMEX, S.A.B. Alfa was a party to 11 joint ventures with foreign companies. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. Private Company A new flat-steel minimill was opened that year. 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. 19. Chairman of the Board of Directors of ALFA, S.A.B. DE C.V. Francisco Javier Fernndez-Carbajal: Armando Garza Sada: David Manuel Martnez Guzmn: 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. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. ", Salinas says nothing can hold her back. 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. "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. Generali's No.3 investor Caltagirone withholds backing for 2022 accounts -sources, Musk says Tesla likely to launch full self-drive technology 'this year', Exclusive: JPMorgan employees gripe about Dimon's return-to-office edict, SpaceX rocket explosion illustrates Elon Musk's 'successful failure' formula, Cucinelli posts 33% rise in Q1 sales, confirms 2023 revenue growth forecast, Exclusive-Peter Thiel, Republican megadonor, won't fund candidates in 2024 - sources, Virginia Governor Youngkin 'humbled' by talk of possible presidential run, European Midday Briefing: Mood Brighter After -2-, Tim Cook unveils new Apple store in India, Morgan Stanley's dealmaking CEO Gorman signals more transactions to come. Mr. Garza Sada is the Chairman of the Board of Directors of Alfa, S.A.B. The original head of probably the single most influential and extensive capitalist family in Mexico was Isaac Garza Garza, the son of Juan de la Garza Martnez, mayor of Monterrey, and Manuela Garza, Jewish immigrants from Spain who had settled in the region of Monterrey, Nuevo Len. 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. Famous quotes containing the word family: " I swear . Public, The Goodyear Tire & Rubber Company 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. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. 2023
. If she knew there would be so much trouble, why did she write the book? Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. The Life Summary of Roberto. 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 Turning Point. 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. Ori, Coahuila, third largest state in Mexico. https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv, "Alfa, S.A. de C.V. 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. Isidro Vizcaya Canales, Los orgenes de la industrializacin de Monterrey (1971). However, the date of retrieval is often important. de C.V., Axtel, 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. Father of Mara Aurora Garza Sepulveda; Manuela Garza Sepulveda; Isaac Garza Sepulveda; Lorenzo Garza Sepulveda and Javier Garza Sepulveda. of C.V. Born in Monterrey, Mexico, 1957. . de C.V., Fomento Econmico Mexicano, S.A.B. 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 1957 it patented HyL, a system of direct reduction known as fire sponging. 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. //An Insider's Telling Tales About Mexico's Richest Family The 10 richest families in Mexico - The Mazatlan Post 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). Armando Garza Sada: ALFA S.A.B. Most online reference entries and articles do not have page numbers. After Garza graduated from the Massachusetts . "They also said that Martha Mitchell was mad. 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. 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. . The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. I will soon write another book showing the moral decay of our ruling class.". . Garza Sada Family - ARTnews.com Therefore, that information is unavailable for most Encyclopedia.com content. [1] He also served as ALFA's former president. Family Tree . "If you look at the profile of our strategy", Garza Medina told a The Wall Street Journal reporter, "we are going from a commodity company into more value-added products", with higher profit margins. (Mexico's central bank) from 1998 to 2008. 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. In retrospect, following Alfas near-bankruptcy in 1982, Alfas success bred arrogance. 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. [2], The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. ." 4 likes, 0 comments - Guaguacoa Carrizalejo (@guaguacoacarrizalejo1) on Instagram: "Nos encontramos sobre la ave Gmez Morin 2003 L-1 en la Plaza Carrizalejo . Oversold stocks. The largest family conglomerate, generally known as the Monterrey Group, began with the founding of the Cuauhtmoc Brewery by Isaac Garza and Francisco Sada in 1890. ", 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. [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]. The most famous of these groups, the ALFA industrial group, the . Eugenio Garza Sada : Family tree by Seminario de Genealoga Mexicana Roberto Garza Sada (1895 - 1979) - Genealogy Dionisio Garza Sada Sada (born August 8, 1928), Mexican part of the 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. 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. ." Chairman of the Board, Alfa. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. 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. 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. 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. Pick a style below, and copy the text for your bibliography. I can fight and write and pay lawyers. 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. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. Germany He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. de C.V. Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. 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. These included the original brewery, Cervecera Cuauhtmoc; a bottling company, Hojalata y Lmina; and Empaques de Cartn Titn, a packaging firm. She is going mad, and the worst part is that she has money so it is difficult to stop her. Birthdate: estimated between 1862 and 1922. ", No member of the Garza Sada family has made statements to the press. de C.V. (ALFA A) (Consumer Goods Conglomerates) 1,716,994,307: 35.6%: 1,085,964,559 USD 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. Global Development Council | Harvard Kennedy School And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. In 1982 the Mexican economy hit the rocks. 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. The events that followed are still shrouded in mystery. In 1936 the family holdings, already vast, were divided into two separate industrial groups. [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. Alfas total debt was 18.5 billion pesos ($2.7 billion). Grillo Sada Net Worth - Rolism Garza Sada Family: 35.63: Government Pension Fund - Global . Alfa, S.A. de C.V. -- Company History 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. Cite this article Pick a style below, and copy the text for your bibliography. Monterrey, Mxico: Gobierno del Estado de Nuevo Len, 1994. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . Armando Garza Sada, Alfa Sab de CV: Profile and Biography Biography. "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. Managed by: Roberto Armando Sada Villarreal. A foreign bank representative recalled, "They were on the same kind of roll that the Mexican government was on then. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. A five-year voting trust for the stock was formed under which 16 percent of the Garza Sada family stock would be held with the 45 percent of the bank stock. 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. Incorporated :1984 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. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. It is a diversified group of businesses, mainly industrial, that produces petrochemicals, aluminum auto components, and refrigerated foods. 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. [1], Garza Sada also championed the modernization of Monterrey Institute of Technology, one of Mexico's most important private universities. Not just a few insiders, the politicians or the businessmen. We see them around but we don't know what goes on behind the scenes. The company recorded the most profitable year of its history in 1988. They know of course as long as I have money. 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. 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. 4845 U.S. Highway 271 North 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. By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. 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 operated more than 70 distribution centers. 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. Source: International Directory of Company Histories, Vol. 19. "Alfa, S.A. de C.V" International Directory of Company Histories, Vol. 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. "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.". It was not only the leading private firm in Mexico but in all of Latin America. He served as the President of Alestra, S. de R.L. Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. [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. Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. 27 Apr. Most online reference entries and articles do not have page numbers. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. 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. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. Medina, Enriqueta, and Federico Arreola. 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. St. James Press, 1998. Manufacturing ventures in television sets, bicycles, and tractors were sold. 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], Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. 'I Can Fight', Her conscience, she says, does not bother her. 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. 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. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. "We manage these ventures, always", Garza Sada told Forbes in 1979. Relatives claim that they have been "tortured and forced to confess.". 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. 20th-century Mexican art Icon Link Plus Icon; Icon Link Plus Icon; Los benemritos de Nuevo Len. of which nine would be named jointly by the foreign banks and the Garza Sada family. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed.