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 serves as Independent Director of the Company. St. James Press, 1998, This page was last edited on 22 April 2023, at 14:09. Privately, a family member told a reporter that Salinas had caused them "terrible headaches and had to be stopped even by force. 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. All of these conglomerates rank among the top fifty companies in Mexico. U.S.A. 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. Bernardo Garza Sada. Augustinians, a Roman Catholic religious order of priests and brothers named after the fifth-century bishop and saint Augustine of Hippo. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). Alfa's stake was held through its subsidiary AlfaTelecom, S.A. de C.V. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. [2] Alfa in the Early 1990s. 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. Pick a style below, and copy the text for your bibliography. He is also Chairman for the University of Monterrey . In 1936 the family holdings, already vast, were divided into two separate industrial groups. Alfa's 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. "Garza Sada Family Nadie supo nada: La verdadera historia del asesinato de Eugenio Garza Sada. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. Before that, he was the director for . Germany Sigenzas father was tutor to Prince Baltazar before going to New Spain. [2], The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. MarketScreener: Created by Investors for Investors! The Larrea family is the second richest family in Mexico according to Forbes magazine. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. 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. Pittsburg, Texas 75686-0093 He also has participated in university and think tank boards, thus developing some knowledge of education and economic development. He married Margarita Sada Garca on 11 February 1921, in Monterrey, Nuevo Len, Mexico. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. 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 1957 it patented HyL, a system of direct reduction known as fire sponging. Five leftist guerrillas, charged with "plotting the kidnapping," have been in Monterrey jail for 4 1/2 years without trial or sentence. 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. Bernardo Garza Sada, Roberto's son, 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. 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. "Garza Sada 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.". [1] He also served as ALFA's former president. ." Trefilia has a portfolio of both direct investments and investments in VC and P/E funds. It manufactures and distributes cement, ready-mix concrete and aggregates in more than 50 countries. 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. 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. 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. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. 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. Mr. Garza Sada holds a Bachelors degree from the Massachusetts Institute of Technology and an M.B.A. from Stanford University. ." 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. de C.V., all of which are public companies, as well as Instituto Tecnolgico y de Estudios Superiores de Monterrey. A new flat-steel minimill was opened that year. 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. "So if the secret, passionate encounters came to a halt," she writes, "his tequila business received powerful injections of capital. We already start the application period for the 3rd generation of Dandelions! "My children were furious about the first book. ALFFF: Get the latest Alfa SAB de C stock price and detailed information including ALFFF news, historical charts and realtime prices. See Armando Garza Sada's compensation, career history, education, & memberships. de C.V. (BMV: ALFAA) ("ALFA") held its Annual General Shareholders' meeting today. Grupo Alfa profits would know no limit.. Bernardo Garza Sada (1930 - 7 November 2009) was a Mexican businessman who founded the Grupo ALFA conglomerate in 1974. Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Policies, S.A. de C.V. (51 percent). 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. Ninfa Salinas Sada, Benjamn Salinas Sada, and Hugo Salinas Sada are his eldest children. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. [2], Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees. ", No member of the Garza Sada family has made statements to the press. 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. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. By 1980 it had 157 subsidiaries in 39 branches of the economy. [1] He was survived by his wife and three children. Web site: http://www.pilgrimspride.com Alfa's total debt was 18.5 billion pesos ($2.7 billion). Roberto Garza Sada (1895-1979) FamilySearch The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. The most famous of these groups, the ALFA industrial group, the . de C.V., El Puerto de Liverpool, S.A.B. "[2], Under Bernardo Garza Sada's leadership Alfa diversified from its base into petrochemicals, synthetic fibers, capital machinery, farm equipment, television sets, and tourism. Armando Garza Sada is Chairman of the Board at Grupo ALFA. The net worth of Bernardo Garza Sada and his family was estimated at $1.5 billion in 1996. . Alfa was a party to 11 joint ventures with foreign companies. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. Encyclopedia.com. Juan Carlos Caldern Rojass - Biografa The performance at the highest corporate level of Mr. Garza Sada in companies in the manufacturing sectors provides CEMEX, S.A.B. Let's all cycle! 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. 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). 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. Another son, Isaac, took over another set of firms, and also developed his own businesses. DE C.V. Francisco Javier Fernndez-Carbajal: Armando Garza Sada: David Manuel Martnez Guzmn: Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. If she knew there would be so much trouble, why did she write the book? 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. I will soon write another book showing the moral decay of our ruling class.". "Alfa, S.A. de C.V. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. de C.V., Fomento Econmico Mexicano, S.A.B. Refer to each styles convention regarding the best way to format page numbers and retrieval dates. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. He is the heir of the family that controls the Fomento Economico Mexicano SA (FEMSA) and the Grupo Financiero Bancomer SA. Alfas total debt was 18.5 billion pesos ($2.7 billion). A frozen food plant and a cheese manufacturing facility were under construction. "It took 3 1/2 months. 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. 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. . It is this Armando Garza Sada Chairman of the Board of Directors, Alfa, S.A.B. Therefore, that information is unavailable for most Encyclopedia.com content. Even the local federal attorney's office refuse to register Salinas' denuciations. 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. Sales :$6.07 billion (1997 est.) Armando Garza Sada: ALFA S.A.B. After receiving his first educatio, Jos Hernndez This subsidiary accounted for 12 percent of Alfa's revenues in 1996. 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. "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. St. James Press, 1998. Brazil Tops Latin Billionaires On List's 3rd Decade, While - Forbes Eugenio Garza Sada on Instagram: "APPLY NOW! We already start the The company recorded the most profitable year of its history in 1988. 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). Then, copy and paste the text into your bibliography or works cited list. "I had to undress myself first, otherwise 'Our Group' could be discredited by people trying to expose me.". The corporate staff was slashed from 4,000 to 1,000, and later to 400. Encyclopedia of Latin American History and Culture. "There is no falling out", one source explained to The New York Times. De C.V. It soon set up its own glass . Moffett, Matt, Mexico Conglomerate Cuts Costs and Learns Theres Life After Debt, Wall Street Journal, July 26, 1989, pp. The company recorded the most profitable year of its history in 1988. "Alfa, S.A. de C.V. Most online reference entries and articles do not have page numbers. Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA). He served as the President of Alestra, S. de R.L. The company recorded the most profitable year of its history in 1988. Encyclopedia of Latin American History and Culture. All rights reserved. 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. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. de C.V., BBVA Bancomer, Nemak S.A.B. In 1957 it patented HyL, a system of direct reduction known as fire sponging. a Family Office launched in 2013. Roberto Garza Sada (1895 - 1979) - Genealogy Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. 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. Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees.
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