2023 . Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). Source: International Directory of Company Histories, Vol. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. A new flat-steel minimill was opened that year. "Alfa, S.A. de C.V" International Directory of Company Histories, Vol. Discover the family tree of Eugenio Garza Sada for free, and learn about their family history and their ancestry. 'I Can Fight', Her conscience, she says, does not bother her. 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. Alfa S.A.B. 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). Language links are at the top of the page across from the title. 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. "People have to know about those that have the economic power in Mexico. My own children were cheated out of their inheritance. Mr. Garza Sada is currently the Chairman of the Board of Directors of ALFA, S.A.B. de C.V., all of which are public companies, as well as Instituto Tecnolgico y de Estudios Superiores de Monterrey. So I wrote every night from 9 till 6 the next morning. 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. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. A new flat-steel minimill was opened that year. 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. All rights reserved. The most famous of these groups, the ALFA industrial group, the . 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. International Directory of Company Histories. 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. lvaro Fernndez Garza is a businessperson who has been the head of 6 different companies and currently holds the position of Co-Chairman for AXTEL SAB de CV, General Director at Grupo Alfa (Spain) and President, Chief Executive Officer & Director at Alfa SAB de CV. "Alfa, S.A. de C.V. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. There is no falling out, one source explained to the New York Times. A frozen food plant and a cheese manufacturing facility were under construction. Mr. Garza Sada is member of the boards of ALFA, FEMSA, Gigante, Liverpool, Lamosa, CYDSA, Frisa, ITESM, MVS and The Mexican Stock Exchange. a Family Office launched in 2013. [1] He was survived by his wife and three children. Armando Garza Sada, Chairman of the . This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. . The unexpected author is a mother of eight and grandmother of 17. 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. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. "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.". Brother of Bernardo Garza Sada, founder of the ALFA . [2], 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. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. The original head of probably the single most influential and extensive capitalist family in Mexico was Isaac Garza Garza, the son of Juan de la Garza Martnez, mayor of Monterrey, and Manuela Garza, Jewish immigrants from Spain who had settled in the region of Monterrey, Nuevo Len. Chicago, Illinois 60606-4678 ." Birthplace: Monterrey, Nuevo Leon, Mexico. There are no family members in important executive positions", Business Latin America wrote, "and this . 4845 U.S. Highway 271 North The net worth of Bernardo Garza Sada and his family was estimated at $1.5 billion in 1996. Telephone: (903) 855-1000 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. 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). Grupo Alfa profits would know no limit. 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. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. Web site: http://www.mannesmann.com de C.V.s Board of Directors and corporate practices and finance committee since March 26, 2015. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. 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. The company recorded the most profitable year of its history in 1988. Husband of Mara Aurora Sepulveda. The company recorded the most profitable year of its history in 1988. 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. 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. The corporate staff was slashed from 4,000 to 1,000, and later to 400. Ninfa Salinas Sada, Benjamn Salinas Sada, and Hugo Salinas Sada are his eldest children. 1, 31. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). The Alfa man had to look good on paper."[2]. We would like to show you a description here but the site won't allow us. Petrochemicals, aluminum auto parts, refrigerated foods, telecommunications. Armando Garza Sada serves as Independent Director of the Company. . 19. Expecting problems, Salinas says she decided to write the book secretly. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. //]]>, 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 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). He has been chairman of CAINTRA (Nuevo Leon State Manufacturing Industry Chamber) and the . 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. 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. His government, Echeverria is reported to have said, must adopt the apparent position of defending the masses and turning against the entrepreneurs. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. ." By 1980 it had 157 subsidiaries in 39 branches of the economy. : Grijalbo/Actualidad, 2006. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. . Cite this article Pick a style below, and copy the text for your bibliography. Fabiola Garza Sada is on the board of Nemak SAB de CV, Alfa Fundacin and Controladora Nemak SAB de CV. He . Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. 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. They know of course as long as I have money. However, the date of retrieval is often important. 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Jean Carroll Rape Lawsuit Over Unfair Rulings, Workers Well-BeingTops Agenda at Annual Shareholder Meetings, Bara DitchingPrivate Jet for Train Points toGreener Football, What to Know About Red-Flag Warnings, an Ominous WildfireForecast, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, Nigerias SEC Plans to Allow Asset-Backed Tokens But Not Crypto, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021, Bitcoin on Course for Longest Streak of Monthly Gains Since 2021. estimated between 1909 and 1969. 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. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. Death: Immediate Family: Son of Jacobo Garza Sepulveda and Maria luisa Sada Rodrguez. de C.V., Axtel, S.A.B. [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. 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. ." The Garza Sada family has created a state within a state. Telephone: ( +49 211) 824-0 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. 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. Grupo Alfa profits would know no limit.". 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. Jos Hernndez Camp, Roderic, Entrepreneurs and Politics in Twentieth-CenturyMexico, New York: Oxford University Press, 1989, pp. "If you look at the profile of our strategy", Garza Medina told a The Wall Street Journal reporter, "we are going from a commodity company into more value-added products", with higher profit margins. "We demand that!" There had been frequent passionate in-fighting behind the facade of family unity, now it turned into a rift. Father of Mara Aurora Garza Sepulveda; Manuela Garza Sepulveda; Isaac Garza Sepulveda; Lorenzo Garza Sepulveda and Javier Garza Sepulveda. . [2] Additionally, Garza Sada was a member of the company's board of directors for two decades. Oil prices would know no limit. Manufacturing ventures in television sets, bicycles, and tractors were sold. Fax: (903) 856-7505 Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. Born in 1957, he joined ALFA in 1978. Eugenio Garza Lagera is 72 years old. Biography. With most shares held among the myriad Garza Sada relatives and descendants, composition of ownership of the "Monterrey Group," as it is known, remained hidden. [2], The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. Menno Vellinga, Economic Development and the Dynamics of Class: Industrialization, Power and Control in Monterrey, Mexico (1979). ." ", No member of the Garza Sada family has made statements to the press. Privacy Policy. 2023 . ." Geneanet. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. Alpek was Alfa's biggest subsidiary, accounting for 44.5 percent of the parent company's revenues in 1996. International Directory of Company Histories. In 1936 the family holdings, already vast, were divided into two separate industrial groups. 17, 25. (April 27, 2023). Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). 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. de C.V., also known as Alfa or Alfa Group, is a Mexican multinational conglomerate headquartered in Monterrey, Mexico. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . window.__mirage2 = {petok:"DJKAqA11ycACRF3YkMEoyO6pFA5Md3QrRh5b2fnyp8s-86400-0"}; 4 likes, 0 comments - Guaguacoa Carrizalejo (@guaguacoacarrizalejo1) on Instagram: "Nos encontramos sobre la ave Gmez Morin 2003 L-1 en la Plaza Carrizalejo . Also, he held executive positions at ALFA, Polioles and Selther. Encyclopedia of Latin American History and Culture. Los benemritos de Nuevo Len. CEMEX S.A.B. [1], Bernardo Garza Sada died at his home in Monterrey, Nuevo Len, Mexico, on November 7, 2009, at the age of 79.
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