Hippocrates (c. 460-c. 370 B.C.) 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. [2], The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. 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. 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. Another son, Isaac, took over another set of firms, and also developed his own businesses. The company recorded the most profitable year of its history in 1988. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). The performance at the highest corporate level of Mr. Garza Sada in companies in the manufacturing sectors provides CEMEX, S.A.B. 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). Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. Fernndez Menndez, Jorge. In 1936 the family holdings, already vast, were divided into two separate industrial groups. Encyclopedia.com. 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). (Mexico's central bank) from 1998 to 2008. Death: Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. a Family Office launched in 2013. 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. Garza was born into a business family, with his father founding the Cuauhtmoc Brewery in Monterrey in 1890. Eugenio Garza Lagera is 72 years old. "[2], 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. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. It operated more than 70 distribution centers. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. Incorporated :1984 It is the largest of the four holding companies that constitute the Monterrey Group, which encompasses the holdings of the extended Garza Sada family, Mexico's wealthiest. Cemex S.A.B. In 1982 the Mexican economy hit the rocks. 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. Grupo Alfa profits would know no limit.. de C.V. 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 other components are led by VITRO, VISA, controlled by the Garza Laguera family, and the CYDSA group, presided over by the Sada Zambrano family. 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. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. The two men did the firing were found dead later that day, their bodies thrown behind a cemetery Salinas says she has had access to court documents, judges and cabinet ministers and writes of contradictions between statements of police, witnesses and the accused. Encyclopedia of Latin American History and Culture. Public, The Goodyear Tire & Rubber Company 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. 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 said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. 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. 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. . 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. "Garza Sada Family "Alfa, S.A. de C.V" International Directory of Company Histories, Vol. However, the date of retrieval is often important. Surviving copies of "Our Group" inevitably have becomes hot property: Some have shown up on the black market fetching as much as $130 apiece, spotty photostats have circulated like secret documents. Therefore, that information is unavailable for most Encyclopedia.com content. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. When the extramarital affair of one of the Garza Sada women had to be broken off because it was causing too much scandal, Salinas claims that the lover was dismissed with generous compensation. That's why they need to be unmasked." Riding, Alan, Monterrey Group: A Family of Wealth and Symbol of Economic Independence, New York Times, October 21, 1974, p. 53. Alfa is listed on the Mexican Stock Exchange and the Latibex, the Latin American market in the Madrid Stock Exchange. 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. Death: Immediate Family: Son of Jacobo Garza Sepulveda and Maria luisa Sada Rodrguez. Roderic Ai Camp, Entrepreneurs and Politics in Twentieth Century Mexico (1989). He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. de C.V. (BMV: ALFAA) ("ALFA") held its Annual General Shareholders' meeting today. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. 19. Also, he held executive positions at ALFA, Polioles and Selther. req.] In 2013, it was the seventh largest company of Mexico according to CNN Expansin.[1]. The Larrea family is the second richest family in Mexico according to Forbes magazine. 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. "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. It was therefoe not surprising that presidential candidate Luis Echeverria had close contact with Don Eugenio or, Salinas recounts, that he alerted him in the late '60s that the social tensions and the recent army repression demanded a tactical change. It was not only the leading private firm in Mexico but in all of Latin America. "We manage these ventures, always," Garza Sada told Forbes in 1979. Web site: http://www.thyssenkrupp.com But they have already managed to get an airport which I own closed down, "she claims. 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. [2], 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. 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. The Alfa man had to look good on paper."[2]. Garza Sada Sada, Dionisio was born on August 8, 1928 in Monterrey, Nuevo Len, Mexico. There is no falling out, one source explained to the New York Times. St. James Press, 1998. They were the parents of at least 4 sons and 1 . ." In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. Nadie supo nada: La verdadera historia del asesinato de Eugenio Garza Sada. Employees :29,854 Web site: http, Mannesmannufer 2 "They also said that Martha Mitchell was mad. 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. 2023 . de C.V., BBVA Bancomer, Nemak S.A.B. 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. We manage these ventures, always, Garza Sada told Forbes in 1979. 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. Encyclopedia of Latin American History and Culture. In 1936 the family holdings, already vast, were divided into two separate industrial groups. https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv, "Alfa, S.A. de C.V. HYLSA, the steel works, was not sold to the government; the family rift became clear as the conglomerate split into several 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. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. Akron, Ohio 44316-0001 In 1982 the Mexican economy hit the rocks. Web site: http://www.pilgrimspride.com Refer to each styles convention regarding the best way to format page numbers and retrieval dates. In 1957 it patented HyL, a system of direct reduction known as fire sponging. There had been frequent passionate in-fighting behind the facade of family unity, now it turned into a rift. His union with Consuelo produced numerous children, among them Eugenio Garza Sada, Isaac Garza Sada, and Roberto Garza Sada. Then, copy and paste the text into your bibliography or works cited list. 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. Language links are at the top of the page across from the title. Alestra began long-distance operations in Monterrey and Quertaro at the beginning of 1997 under the AT&T name. Alfa was a party to 11 joint ventures with foreign companies. Petrochemicals, aluminum auto parts, refrigerated foods, telecommunications. "There is no falling out", one source explained to The New York Times. Mexico, D.F. Armando Garza Sada: ALFA S.A.B. Under cnsiderable pressure, a weekly magazine bowed out of serializing the book. Technical Rankings. Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. Ori, Coahuila, third largest state in Mexico. ." Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. According to the 1987 FORBES inaugural list of the World's Billionaires, Brazil's Ermirio de Moraes family ($2 billion net worth) and Mexico's Garza Sada family ($1.3 billion net worth), were the . I'm still exhausted from it.". 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. A frozen food plant and a cheese manufacturing facility were under construction. 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. It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. [2], Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. Mr. Garza Sada is the Chairman of the Board of Directors of Alfa, S.A.B. Even the local federal attorney's office refuse to register Salinas' denuciations. Behind the Facade. Trefilia has a portfolio of both direct investments and investments in VC and P/E funds. There are no family members in important executive positions", Business Latin America wrote, "and this . In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. 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. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. SAN PEDRO GARZA GARCIA, Mexico, March 7, 2022 /PRNewswire/ -- ALFA S.A.B. Alestra began long distance operations in Monterrey and Queretaro at the beginning of 1997 under the AT&T name. Encyclopedia.com. . : Grijalbo/Actualidad, 2006. International Directory of Company Histories. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. Born in 1957, he joined ALFA in 1978. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. 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. 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. 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. . He has been a member of CEMEX, S.A.B. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. 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. 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. 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. 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. Encyclopedia.com. So I wrote every night from 9 till 6 the next morning. As consumers, we often take for granted all the hard work that goes into building a great company. 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. Famous quotes containing the word family: " I swear . He has been chairman of CAINTRA (Nuevo Leon State Manufacturing Industry Chamber) and the . 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. Finally, we can read about how these great companies came about with Company Histories.. [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 did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. 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. 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. Web site: http://www.mannesmann.com 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. 2019Encyclopedia.com | All rights reserved. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. [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. Expecting problems, Salinas says she decided to write the book secretly. 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. 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. 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. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. Garza Sada Family, major Mexican entrepreneurial family. de C.V.'s Board of Directors and corporate practices and finance committee since March 26, 2015. . A new flat-steel minimill was opened that year. 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. 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. Chairman of the Board, Alfa. Family Tree . Don Roberto Garza Sada: La pasin por la excelencia. [2] Additionally, Garza Sada was a member of the company's board of directors for two decades. The Turning Point. He was President of Versax and of Sigma. Cite this article Pick a style below, and copy the text for your bibliography. 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. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Moffett, Matt, Mexico Conglomerate Cuts Costs and Learns Theres Life After Debt, Wall Street Journal, July 26, 1989, pp. 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. He served as the President of Alestra, S. de R.L. Managed by: Roberto Armando Sada Villarreal. Bernardo Garza Sada (1930 7 November 2009) was a Mexican businessman who founded the Grupo ALFA conglomerate in 1974. 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. After studying merchandizing in Santander, Spain, he went into the grocery business with Jos Caldern, who married his aunt. [CDATA[ The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. Encyclopedias almanacs transcripts and maps, Encyclopedia of Latin American History and Culture. Sales :$6.07 billion (1997 est.) This subsidiary accounted for 12 percent of Alfas revenues in 1996. We already start the application period for the 3rd generation of Dandelions! 2019Encyclopedia.com | All rights reserved. It's very dangerous. Copyright 2023 Surperformance. 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. Sigenzas father was tutor to Prince Baltazar before going to New Spain. 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. Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. The Chosen Instruments, Forbes, October 29, 1979, pp. "It's too close to a school, I am suddenly told by the authorities. 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. 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. (Sada died a few years ago is a diving accident in the Carribean.) Alestra began long distance operations in Monterrey and Queretaro at the beginning of 1997 under the AT&T name. 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. . Keep supporting great journalism by turning off your ad blocker. He married Margarita Sada Garca on 11 February 1921, in Monterrey, Nuevo Len, Mexico. lvaro Fernndez Garza. The Argentine poet Jos Hernndez (1834-1886) was an active social force during the period of consolidation of the Arge, Tarascans (now also called Purpecha), the Native American linguistic and cultural group that in pre-Spanish times occupied most of the area of the p, Michoacn, central-western Mexican state. Torres, Craig, Mexican Conglomerate Alfa, As It Cuts Operations, May Face Hostile Investor, Wall Street Journal, August 25, 1994, p. A8. [1] 208219. She is going mad, and the worst part is that she has money so it is difficult to stop her. Husband of Margarita G Sada Garcia. A foreign bank representative recalled, "They were on the same kind of roll that the Mexican government was on then. Before that, he was the director for . Bloomberg Markets Americas. 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. Let's all cycle! Except that school has been there for 10 years. Gold and Silver. Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. Father of Bernardo Garza Sada; Private; Dionisio Garza Sada; Roberto Garza Sada and Margarita Garza Sada. They know of course as long as I have money. 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." 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.
