Technical Rankings. So I wrote every night from 9 till 6 the next morning. 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). Armando Garza Sada (deceased) - Genealogy HYLSA, the steel works, was not sold to the government; the family rift became clear as the conglomerate split into several groups. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Web site: http, Mannesmannufer 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. By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. The Garza Sada family has created a state within a state. learn how over 7,000 companies got started! Bernardo Garza Sada (1930 - 7 November 2009) was a Mexican businessman who founded the Grupo ALFA conglomerate in 1974. Biography. "Alfa, S.A. de C.V. 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. Monterrey, Mexico: Comit de Archivo y Biblioteca, Congreso del Estado de Nuevo Len, 2003. Brother of Bernardo Garza Sada, founder of the ALFA . Medina, Enriqueta, and Federico Arreola. 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 July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. Armando Garza Sada serves as Independent Director of the Company. The Life Summary of Roberto. Alfa's total debt was 18.5 billion pesos ($2.7 billion). Armando Garza Sada. Another son, Isaac, took over another set of firms, and also developed his own businesses. Alfa in the Early 1990s. ." Language links are at the top of the page across from the title. ALFFF: Get the latest Alfa SAB de C stock price and detailed information including ALFFF news, historical charts and realtime prices. Retrieved April 27, 2023 from Encyclopedia.com: https://www.encyclopedia.com/humanities/encyclopedias-almanacs-transcripts-and-maps/garza-sada-family. [1][2] Alfa also produces televisions, machinery, and has assets in Mexico's tourism sector. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. St. James Press, 1998. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. Akron, Ohio 44316-0001 All rights reserved. There is no falling out, one source explained to the New York Times. Armando Garza Sada: ALFA S.A.B. Principal 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. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). Hippocrates (c. 460-c. 370 B.C.) Web site: http://www.mannesmann.com ALFA (Mexico) - WikiMili, The Best Wikipedia Reader 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. All rights reserved. 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). 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. "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. 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. The oldest executive at Cemex S.A.B. As an era of high prices for Mexicos 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. Encyclopedia.com. Trefilia has a portfolio of both direct investments and investments in VC and P/E funds. A foreign bank representative recalled, "They were on the same kind of roll that the Mexican government was on then. [1], Garza Sada also championed the modernization of Monterrey Institute of Technology, one of Mexico's most important private universities. 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 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. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. NAIC :32562 Toilet Preparatio, 125 South Franklin Street [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]. Mr. Garza Sada is the Chairman of the Board of Directors of Alfa, S.A.B. Expecting problems, Salinas says she decided to write the book secretly. St. James Press, 1998, This page was last edited on 22 April 2023, at 14:09. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. 3738. By 1980 it had 157 subsidiaries in 39 branches of the economy. 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. In Vino Veritas. De C.V. is Everardo ElizondoAlmaguer, 76, who is the Independent Director. [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. "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. Don't miss out this opportunity and join . 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. Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees. "People have to know about those that have the economic power in Mexico. Alpek was Alfa's biggest subsidiary, accounting for 44.5 percent of the parent company's revenues in 1996. Encyclopedia of Latin American History and Culture. It also participates in the extraction of oil and natural gas, and offers IT & telecom services. "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. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income fell to 444 million pesos ($130 million). Pittsburg, Texas 75686-0093 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. The company recorded the most profitable year of its history in 1988. Then police raided the author's home, seized her private copies and charged the book was "vulgar" and "libelous.". Armando Garza Sada | Alfa | Mexico - OMICS International Bloomberg Markets Americas. 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. And she claims further - "There are innocent people in jail blamed for Don Eugenio's assassination. de C.V.s Board of Directors and corporate practices and finance committee since March 26, 2015. 19. 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. 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. All of these conglomerates rank among the top fifty companies in Mexico. The 10 richest families in Mexico - The Mazatlan Post Europe's family businesses. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). (April 27, 2023). The net worth of Bernardo Garza Sada and his family was estimated at $1.5 billion in 1996. Finally, the author alleges, the decision was taken by some family members to kill the 81-year-old man because he was clearly losing his mind. Sales :$6.07 billion (1997 est.) 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. Alfa was a party to 11 joint ventures with foreign companies. This subsidiary accounted for 12 percent of Alfas revenues in 1996. Copyright 2023 Surperformance. Sigenzas father was tutor to Prince Baltazar before going to New Spain. This would bring Mexico's basic industries - oil and electricity were already nationalized - under state control and would represent a major patriolic achievement for Echeverria. Then, copy and paste the text into your bibliography or works cited list. 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. He married Margarita Sada Garca on 11 February 1921, in Monterrey, Nuevo Len, Mexico. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. Whatever the truth about the Garza Sada killing, it was a turning point in the Echeverria regime. Mexico, D.F. A frozen food plant and a cheese manufacturing facility were under construction. D-40213 Dsseldorf Alpex was Alfas biggest subsidiary, accounting for 44.5 percent of the parent companys revenues in 1996. Gold and Silver. By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. A Mexican millionaire has electrified the political and social scene here with a cutting expose in her versions of the secret goings-on in the inner circles of Mexico's wealthiest and most powerful family. Alfa was a party to 11 joint ventures with foreign companies. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). ", Under Bernardo Garza Sada's leadership Alfa diversified from its base into petrochemicals, synthetic fibers, capital machinery, farm equipment, television sets, and tourism. Telephone: (312) 606-4000 Echeverria is now accused of fostering letfism and chaos. 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. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. 27 Apr. 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. CEMEX S.A.B. Fax: (312) 606-4093 Buoyant Domestic Sales Boost Grupo Alfa, El Financiero (English-language weekly edition), February 24-March 2, 1997, pp. The net worth of Bernardo Garza Sada and his family was estimated at $1.5 billion in 1996. "Alfa, S.A. de C.V" International Directory of Company Histories, Vol. //]]>, 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. In 1982 the Mexican economy hit the rocks. Don Roberto Garza Sada: La pasin por la excelencia. Chicago, Illinois 60606-4678 . Petrochemicals, aluminum auto parts, refrigerated foods, telecommunications. Eugenio Garza Sada : Family tree by Seminario de Genealoga Mexicana . "It's something I had to do," says Salinas. 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. Ninfa Salinas Sada, Benjamn Salinas Sada, and Hugo Salinas Sada are his eldest children. Managed by: Roberto Armando Sada Villarreal. 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. Cite this article Pick a style below, and copy the text for your bibliography. 2019Encyclopedia.com | All rights reserved. Augustinians, a Roman Catholic religious order of priests and brothers named after the fifth-century bishop and saint Augustine of Hippo. of which nine would be named jointly by the foreign banks and the Garza Sada family. 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. Brother of Jacobo Garza Sada; Private User; Private User; Private and Rogelio Garza Sada.
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