garza sada family alfa garza sada family alfa
He was President of Versax and of Sigma. Currently, he is a member of the Board of Directors of Alpek, S.A.B. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. His government, Echeverria is reported to have said, must adopt the apparent position of defending the masses and turning against the entrepreneurs. Mr. Garza Sada is the Chairman of the Board of Directors of Alfa, S.A.B. They were the parents of at least 4 sons and 1 . Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. 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. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. "With my eight children, and 17 grandchildren coming in and out all the time, it was impossible to go around hiding my papers everytime the bell rang," she says. "[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. ." [1], Bernardo Garza Sada died at his home in Monterrey, Nuevo Len, Mexico, on November 7, 2009, at the age of 79. "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. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. ", Salinas says nothing can hold her back. It operated more than 70 distribution centers. . He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. Camp, Roderic, Entrepreneurs and Politics in Twentieth-CenturyMexico, New York: Oxford University Press, 1989, pp. [2], The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. 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. 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. Petrochemicals, aluminum auto parts, refrigerated foods, telecommunications. Name: Equities % Valuation: Alfa S.A.B. 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). 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. Mr. Armando Garza Sada serves as an Executive Vice President of Corporate Development of Grupo Industrial Alfa, SA de CV. Located between Mexico and Jalisco, it has a population of 3,966,073 (2005) and its capital is Morelia. ", No member of the Garza Sada family has made statements to the press. [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]. 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. ." 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. 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). It was not only the leading private firm in Mexico but in all of Latin America. In retrospect, following Alfa's near-bankruptcy in 1982, Alfa's success bred arrogance. Fax: (330) 796-2222 P, MacAndrews & Forbes Holdings Inc. "People have to know about those that have the economic power in Mexico. However, the date of retrieval is often important. These included the original brewery, Cervecera Cuauhtmoc; a bottling company, Hojalata y Lmina; and Empaques de Cartn Titn, a packaging firm. A frozen food plant and a cheese manufacturing facility were under construction. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. 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. 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. These children, in turn, intermarried with other prominent Monterrey families, including the Laguera and Seplveda families. de C.V., Grupo Lamosa, S.A.B. ALFA (Mexico) - Origins - Restructuring in The 1980s. [2], In 1996, Alfa formed a joint venture with Valores Industriales, Bancomer (Mexico's second largest bank), and AT&T to enter the Mexican long-distance telephone market in competition against Telfonos de Mexico. de C.V.s Board of Directors a unique insight on the global economic and commercial landscape, thus allowing the constant improvement of CEMEXs business strategy. Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. In 1982 the Mexican economy hit the rocks. Alfa was a party to 11 joint ventures with foreign companies. If not, a banker; a third way is to be a wealthy merchant, although they are up to a point despised; the last, and a good method, is of course to have an affair with a woman of the 'group.'". [2], The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. 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. Himself a graduate of the Massachusetts Institute of Technology, Garza Sada staffed top management with graduates of MIT, Harvard, and the University of Pennsylvania's Wharton School of Business. About 70 percent of the foreign lenders agreed to exchange about $639 million of the debt for about $385 million in debt owed by Mexico itself and about $69 million in cash. 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. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. Source: International Directory of Company Histories, Vol. Alfa's stake was held through its subsidiary AlfaTelecom, S.A. de C.V.[2], 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. "Alfa, S.A. de C.V" International Directory of Company Histories, Vol. The performance at the highest corporate level of Mr. Garza Sada in companies in the manufacturing sectors provides CEMEX, S.A.B. The Monterrey Group empire derived from the founding in Monterrey of Cerveceria Cuauhtemoc, a brewery, in 1890 by Isaac Garza Garza, his brother-in-law, Francisco Sada Muguerza, and two others. . 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. Europe's family businesses. Manufacturing ventures in television sets, bicycles, and tractors were sold. window.__mirage2 = {petok:"DJKAqA11ycACRF3YkMEoyO6pFA5Md3QrRh5b2fnyp8s-86400-0"}; In 2013, it was the seventh largest company of Mexico according to CNN Expansin.[1]. 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. Monterrey, Mexico: Comit de Archivo y Biblioteca, Congreso del Estado de Nuevo Len, 2003. Please help update this article to reflect recent events or newly available information. Husband of Mara Aurora Sepulveda. The corporate staff was slashed from 4,000 to 1,000, and later to 400. "Garza Sada Family Buoyant Domestic Sales Boost Grupo Alfa, El Financiero (English-language weekly edition), February 24-March 2, 1997, pp. "It's too close to a school, I am suddenly told by the authorities. After receiving his first educatio, Jos Hernndez Cite this article Pick a style below, and copy the text for your bibliography. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. Then police raided the author's home, seized her private copies and charged the book was "vulgar" and "libelous.". The untimely death of Eugenio Garza Sada, who was murdered in September 1973, served as a catalyst in breaking up the beer, glass, and steel empire into four separate, but complementary, holding companies. "So if the secret, passionate encounters came to a halt," she writes, "his tequila business received powerful injections of capital. 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. Mr. Garza Sada holds a Bachelors degree from the Massachusetts Institute of Technology and an M.B.A. from Stanford University. That year it sold its 51 percent stake in one of the Monterrey Groups oldest holdings, the paper and packaging subsidiary Empaques de Carton Titan. 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). Five leftist guerrillas, charged with "plotting the kidnapping," have been in Monterrey jail for 4 1/2 years without trial or sentence. Finally, we can read about how these great companies came about with Company Histories.. CEMEX S.A.B. 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. We manage these ventures, always, Garza Sada told Forbes in 1979. Bernardo Garza Sada. [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. 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. This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. In 1982 the Mexican economy hit the rocks. 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. It operated more than 70 distribution centers. Then, copy and paste the text into your bibliography or works cited list. The Alfa man had to look good on paper."[2]. Encyclopedia.com. req.] Alfa was a party to 11 joint ventures with foreign companies. 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. He also has participated in university and think tank boards, thus developing some knowledge of education and economic development. Copyright (c) 2022 Company-Histories.com. 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. Death: Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. 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. Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. One observer said they always picked the kid with the Harvard MBA over the guy who really knew the business. Alfa is listed on the Mexican Stock Exchange and the Latibex, the Latin American market in the Madrid Stock Exchange. Fax: (903) 856-7505 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. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Alex Saragoza, The Monterrey Elite and the Mexican State, 18801940 (1988). Fax: +49 (0) 211 820-1846 Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). [2], In May 2015, Alfa and British energy firm Harbour Energy collaborated by making a bid to acquire Canadian oil and gas company Pacific Rubiales Energy for C$6 billion, including debt.[3]. Nadie supo nada: La verdadera historia del asesinato de Eugenio Garza Sada. Manufacturing ventures in television sets, bicycles, and tractors were sold. 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. We already start the application period for the 3rd generation of Dandelions! Biography. ", 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. "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. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . 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. Managed by: Roberto Armando Sada Villarreal. ." By 1980 it had 157 subsidiaries in 39 branches of the economy. A Virtual Outcast, Last year, the twice-widowed Salinas caused a minor storm with her autobiography in which she tells of her own love affairs, something unheard of in polite society here. He . ." U.S.A. Technical Rankings. 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. The memorial to Garza Sada was created to educate future generations of Garza Sada's work. The "group" was generally regarded as responsible for initiating a whispering campaign that Echeverria was planning a coup to remain in power which turned his final months into a period of near-national hysteria. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. 208219. 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. 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. We would like to show you a description here but the site won't allow us. Employees :29,854 Encyclopedia of Latin American History and Culture. 1144 East Market Street Birthdate: estimated between 1862 and 1922. 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. Another son, Isaac, took over another set of firms, and also developed his own businesses. Under a complex arrangement, the creditor banks forgave $920 million in Alfas debt in return for 45 percent of its stock. The huge conglomerates now embrace chemical, steel and cement Plants, textiles, television, two nationwide banking chains and employ 80,000 people. When Roberto Garza Sada was born on 9 December 1895, in Monterrey, Nuevo Len, Mexico, his father, Isaac Garza de la Garza, was 42 and his mother, Consuelo Sada Muguerza, was 27. A foreign bank representative recalled, "They were on the same kind of roll that the Mexican government was on then. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. . //
Verifica Masina Dupa Nr Inmatriculare,
Florida High School Track And Field Records,
Articles G