Cite this article Pick a style below, and copy the text for your bibliography. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. [1] He also served as ALFA's former president. HYLSA, the steel works, was not sold to the government; the family rift became clear as the conglomerate split into several groups. Most online reference entries and articles do not have page numbers. It operated more than 70 distribution centers. ", Another relative, also a member of Monterrey society, she describes as a typical Mexican macho always ready to show off his latest-model sports car or newest mistress. International Directory of Company Histories. As consumers, we often take for granted all the hard work that goes into building a great company. Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees. It was not only the leading private firm in Mexico but in all of Latin America. In 1982 the Mexican economy hit the rocks. St. James Press, 1998. In 1957 it patented HyL, a system of direct reduction known as fire sponging. We manage these ventures, always, Garza Sada told Forbes in 1979. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. "[2], 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. 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. 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). Also, he held executive positions at ALFA, Polioles and Selther. 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. Brother of Jacobo Garza Sada; Private User; Private User; Private and Rogelio Garza Sada. Armando Garza Sada. 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. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. 1144 East Market Street 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. Or purchase a subscription for unlimited access to real news you can count on. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . "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. Death: Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. [1], Garza Sada also championed the modernization of Monterrey Institute of Technology, one of Mexico's most important private universities. Husband of Private. Encyclopedia.com. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. To enter the "Monterrey Group's" social circuit, the best way, she writes, "is to be an industrialist. de C.V. (ALFA A) (Consumer Goods Conglomerates) 1,716,994,307: 35.6%: 1,085,964,559 USD ", No member of the Garza Sada family has made statements to the press. "Garza Sada Family 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. : Grijalbo/Actualidad, 2006. 17, 25. The businessman has a total of 6 children, three from his first marriage to Ninfa Sada Garza and three others with his current partner Mara Laura Medina. 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. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). 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. De C.V. is Everardo ElizondoAlmaguer, 76, who is the Independent Director. After receiving his first educatio, Jos Hernndez Grupo Alfa profits would know no limit.". Mr. Garza Sada holds a Bachelors degree from the Massachusetts Institute of Technology and an M.B.A. from Stanford University. 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. 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. Death: Immediate Family: Son of Jacobo Garza Sepulveda and Maria luisa Sada Rodrguez. Telephone: (903) 855-1000 Eugenio Garza Sada 1892-1973 Married 16 April 1921, Monterrey, Nuevo Len, Mxico, toConsuelo Josefina Lagera Zambrano 1901; ." Armando Garza Sada is Chairman at Alfa Sab de CV. [2] Additionally, Garza Sada was a member of the company's board of directors for two decades. 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. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. 19. Finally, we can read about how these great companies came about with Company Histories.. 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. 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. Telephone: +49 (0) 211 820-0 Then, copy and paste the text into your bibliography or works cited list. Technical Rankings. All rights reserved. One observer said that Alfa "bought businesses like someone would buy candies for their children." Public, The Goodyear Tire & Rubber Company It operated more than 70 distribution centers. SAN PEDRO GARZA GARCIA, Mexico, March 7, 2022 /PRNewswire/ -- ALFA S.A.B. Chairman of the Board, Alfa. de C.V. (BMV: ALFAA) ("ALFA") held its Annual General Shareholders' meeting today. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . [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. He is also Chairman for the University of Monterrey . He served as the President of Alestra, S. de R.L. She alleges, "But he always kept his wife pregnant as a fruit-bearing tree, inside her home, covered up to her nose so that no one else would desire her." Birthdate: estimated between 1862 and 1922. By 1980 it had 157 subsidiaries in 39 branches of the economy. He is the heir of the family that controls the Fomento Economico Mexicano SA (FEMSA) and the Grupo Financiero Bancomer SA. 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. de C.V., Mexico 14th Annual Global CEO Survey Interview Transcripts (Sada died a few years ago is a diving accident in the Carribean.) Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. 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. 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. Don't miss out this opportunity and join . 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. I will soon write another book showing the moral decay of our ruling class.". Alfa's total debt was 18.5 billion pesos ($2.7 billion). Armando Garza Sada: ALFA S.A.B. Father of Bernardo Garza Sada; Private; Dionisio Garza Sada; Roberto Garza Sada and Margarita Garza Sada. 'I Can Fight', Her conscience, she says, does not bother her. 19. Alfa was a party to 11 joint ventures with foreign companies. Petrochemicals, aluminum auto parts, refrigerated foods, telecommunications. Language links are at the top of the page across from the title. (Mexico's central bank) from 1998 to 2008. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. 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. Alpex was Alfas biggest subsidiary, accounting for 44.5 percent of the parent companys revenues in 1996. Her book, "Our Group," written surreptitiously at night, offers the sort of blazing indescretions about Mexico's mighty of which the public rarely gets a glimpse: political power games played all the way up to the presidencey, shady business deals, tales of corruption, murder and high living, savored with rich detail of illicit love affairs. Alfa's stake was held through its subsidiary AlfaTelecom, S.A. de C.V.[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. The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. The memorial is located at the crossroad where Garza Sada died in 1973. Retrieved April 27, 2023 from Encyclopedia.com: https://www.encyclopedia.com/humanities/encyclopedias-almanacs-transcripts-and-maps/garza-sada-family. Not just a few insiders, the politicians or the businessmen. Monterrey, Mxico: Gobierno del Estado de Nuevo Len, 1994. Gold and Silver. The oldest executive at 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). Don Eugenio was shot in his car in the early morning of Sept 17, according to police, in a leftist kidnap attempt, according to Salinas' allegations, by hired gunmen. "Our Group" gives a rare view behind the respectable facade of Mexican society where some characters with private chapels in their homes also, the author alleges, lead hedonist lives, have long affairs and illegitimate children.

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