The company recorded the most profitable year of its history in 1988. However, the date of retrieval is often important. His government, Echeverria is reported to have said, must adopt the apparent position of defending the masses and turning against the entrepreneurs. 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. ALFFF: Get the latest Alfa SAB de C stock price and detailed information including ALFFF news, historical charts and realtime prices. Manufacturing ventures in television sets, bicycles, and tractors were sold. 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. Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. 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. 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. Most online reference entries and articles do not have page numbers. Encyclopedia of Latin American History and Culture. The Alfa man had to look good on paper.. de C.V., Grupo Lamosa, S.A.B. Bernardo Garza Sada (1930 7 November 2009) was a Mexican businessman who founded the Grupo ALFA conglomerate in 1974. Oil prices would know no limit. St. James Press, 1998. 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. 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 (deceased) - Genealogy learn how over 7,000 companies got started! They were the parents of at least 4 sons and 1 . NAIC :32562 Toilet Preparatio, 125 South Franklin Street Born in 1957, he joined ALFA in 1978. 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. [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. 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. He also has participated in university and think tank boards, thus developing some knowledge of education and economic development. "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 . 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 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income fell to 444 million pesos ($130 million). He was President of Versax and of Sigma. 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. Alfa, S.A. de C.V. | Encyclopedia.com Salinas did not leave her home for three weeks. Armando Garza Sada serves as Independent Director of the Company. 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. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. [1][2] Alfa also produces televisions, machinery, and has assets in Mexico's tourism sector. Alfa in the Early 1990s. Another son, Isaac, took over another set of firms, and also developed his own businesses. Sectorial interests include, but is not limited to, Consumer Products, Financial Institutions and . 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. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. 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. 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. [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]. It was not only the leading private firm in Mexico but in all of Latin America. 27 Apr. Alfa in the Early 1990s. Bernardo Garza Sada - Wikipedia Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). The corporate staff was slashed from 4,000 to 1,000, and later to 400. Under a complex arrangement, the creditor banks forgave $920 million in Alfas debt in return for 45 percent of its stock. "It took 3 1/2 months. All of these conglomerates rank among the top fifty companies in Mexico. 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. "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. Whatever the truth about the Garza Sada killing, it was a turning point in the Echeverria regime. [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. Mr. Garza Sada serves as a General Director of Versax S.A. De C.V, Selther, Polioles and Sigma. And she claims further - "There are innocent people in jail blamed for Don Eugenio's assassination. We manage these ventures, always, Garza Sada told Forbes in 1979. . Fax: +49 (0) 211 820-1846 Alfa's total debt was 18.5 billion pesos ($2.7 billion). By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. 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. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. 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. 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. Armando Garza Sada is Chairman of the Board at Grupo ALFA. Much, Marilyn, Mexico: The Long Road Back, Industry Week, August 8, 1983, pp. The Garza Sada family has created a state within a state. In 1936 the family holdings, already vast, were divided into two separate industrial groups. Web site: http://www.mannesmann.com ." Europe's family businesses. [CDATA[ It soon set up its own glass . De C.V. 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. In Vino Veritas. 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. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. 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. The memorial to Garza Sada was created to educate future generations of Garza Sada's work. 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 did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. 4 likes, 0 comments - Guaguacoa Carrizalejo (@guaguacoacarrizalejo1) on Instagram: "Nos encontramos sobre la ave Gmez Morin 2003 L-1 en la Plaza Carrizalejo . Private Company This subsidiary accounted for 12 percent of Alfa's revenues in 1996. 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. "It was all part of a plan," she says. 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). de C.V.s Board of Directors and corporate practices and finance committee since March 26, 2015. 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. [1], Bernardo Garza Sada died at his home in Monterrey, Nuevo Len, Mexico, on November 7, 2009, at the age of 79. [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. 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. Then, copy and paste the text into your bibliography or works cited list. Death: Immediate Family: Son of Jacobo Garza Sepulveda and Maria luisa Sada Rodrguez. It was not only the leading private firm in Mexico but in all of Latin America. Under cnsiderable pressure, a weekly magazine bowed out of serializing the book. a Family Office launched in 2013. It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. Again, Don Eugenio agreed and, in so doing caused a great uproar within the family. Bloomberg Markets Americas. 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. The corporate staff was slashed from 4,000 to 1,000, and later to 400. Armando Garza Sada: ALFA S.A.B. Garza Sada Family | Encyclopedia.com Therefore, that information is unavailable for most Encyclopedia.com content. 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). The Alfa man had to look good on paper."[2]. Alestra began long distance operations in Monterrey and Queretaro at the beginning of 1997 under the AT&T name. His union with Consuelo produced numerous children, among them Eugenio Garza Sada, Isaac Garza Sada, and Roberto Garza Sada. Grupo Alfa profits would know no limit.". 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. [2], Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. Manufacturing ventures in television sets, bicycles, and tractors were sold. In 1957 it patented HyL, a system of direct reduction known as fire sponging. Telephone: (330) 796-2121 Armando Garza Sada Net Worth (2023) | wallmine 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). Then, copy and paste the text into your bibliography or works cited list. [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]. 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." ", No member of the Garza Sada family has made statements to the press. She is going mad, and the worst part is that she has money so it is difficult to stop her. 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. It is this Armando Garza Sada Chairman of the Board of Directors, Alfa, S.A.B. 1144 East Market Street 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. 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. de C.V., a public company with a business portfolio that . 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 . Oversold stocks. Source: International Directory of Company Histories, Vol. de C.V., all of which are public companies, as well as Instituto Tecnolgico y de Estudios Superiores de Monterrey. The company recorded the most profitable year of its history in 1988. Trefilia has a portfolio of both direct investments and investments in VC and P/E funds. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. 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. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). Alex Saragoza, The Monterrey Elite and the Mexican State, 18801940 (1988). 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. 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. This subsidiary accounted for 12 percent of Alfas revenues in 1996. Retrieved April 27, 2023 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv. ." Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. Therefore, that information is unavailable for most Encyclopedia.com content. All of these conglomerates rank among the top fifty companies in Mexico. 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. Germany Death: Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. Don't miss out this opportunity and join . 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. Encyclopedia of Latin American History and Culture. Pick a style below, and copy the text for your bibliography. Telephone: (903) 855-1000 Public, The Goodyear Tire & Rubber Company . Alfas stake was held through its subsidiary AlfaTelecom, S.A. de C.V. If she knew there would be so much trouble, why did she write the book? Alfa's stake was held through its subsidiary AlfaTelecom, S.A. de C.V. https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv, "Alfa, S.A. de C.V. The net worth of Bernardo Garza Sada and his family was estimated at $1.2 billion in 1996. We already start the application period for the 3rd generation of Dandelions! de C.V., Fomento Econmico Mexicano, S.A.B. International Directory of Company Histories. 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. 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. There are no family members in important executive positions", Business Latin America wrote, "and this . 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. 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 Hylsas common stock. Petrochemicals, aluminum auto parts, refrigerated foods, telecommunications. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. de C.V. (ALFA A) (Consumer Goods Conglomerates) 1,716,994,307: 35.6%: 1,085,964,559 USD
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