garza sada family alfa

After receiving his first educatio, Jos Hernndez Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. Death: Immediate Family: Son of Isaac Garza Garza and Consuelo Sada Muguerza. 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. [2], Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. Net sales rose to 14.21 billion pesos ($4.06 billion), but the company lost 2.16 billion pesos ($617 million). 2023 . 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. Ori, Coahuila, third largest state in Mexico. Web site: http://www.mannesmann.com Telephone: +49 (0) 211 820-0 He also has participated in university and think tank boards, thus developing some knowledge of education and economic development. . 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. 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. Petrochemicals, aluminum auto parts, refrigerated foods, telecommunications. A new flat-steel minimill was opened that year. Isaac Garza Sada. It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. "They also said that Martha Mitchell was mad. "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. Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. As consumers, we often take for granted all the hard work that goes into building a great company. [2], The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. At Alfa, we serve our markets "from the bottom up"; that is, we try to discover or anticipate, as precisely as possible, what the needs of our customers are, so as to provide the best solution. 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. A1, A8. "Mexican Businessman Bernardo Garza Sada Dies", "Mexican magnate Bernardo Garza Sada dies at 79", "Muere el empresario Bernardo Garza Sada", https://en.wikipedia.org/w/index.php?title=Bernardo_Garza_Sada&oldid=1147935076, Massachusetts Institute of Technology alumni, Articles with dead external links from April 2023, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 3 April 2023, at 03:52. de C.V., a listed corporation in Mexico with operations in 23 countries, and a business portfolio that includes petrochemicals, refrigerated food, telecommunications, IT and energy. Armando Garza Sada is Chairman at Alfa Sab de CV. de C.V., also known as Alfa or Alfa Group, is a Mexican multinational conglomerate headquartered in Monterrey, Mexico. The Alfa man had to look good on paper.. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. Moffett, Matt, Mexico Conglomerate Cuts Costs and Learns Theres Life After Debt, Wall Street Journal, July 26, 1989, pp. Encyclopedia of Latin American History and Culture. Refer to each styles convention regarding the best way to format page numbers and retrieval dates. That's why they need to be unmasked." ", 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. After Garza graduated from the Massachusetts . Armando Garza Sada serves as Independent Director of the Company. Copyright (c) 2022 Company-Histories.com. 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. In retrospect, following Alfa's near-bankruptcy in 1982, Alfa's success bred arrogance. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. 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. Blumenthal, Karen, Hylsas Debt of $1.2 Billion Is Restructured, Wall Street Journal, May 4, 1988, p. 4. Alfa was a party to 11 joint ventures with foreign companies. Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. He has been a member of CEMEX, S.A.B. The Alfa man had to look good on paper.". Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. His union with Consuelo produced numerous children, among them Eugenio Garza Sada, Isaac Garza Sada, and Roberto Garza Sada. Before that, he was the director for . When Dionisio Garza Medina, a nephew of Bernardo Garza Sada, became chairman in 1994, he fired half of Alfa's middle managers and focused on restoring higher profitability to the company's three main business sectors: steel, petrochemicals, and food. All rights reserved. Managed by: Roberto Armando Sada Villarreal. U.S.A. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. 19. [1], Bernardo Garza Sada died at his home in Monterrey, Nuevo Len, Mexico, on November 7, 2009, at the age of 79. It soon set up its own glass . Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. 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. 17, 25. Not just a few insiders, the politicians or the businessmen. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. Birthdate: estimated between 1862 and 1922. 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. Encyclopedia.com. "We demand that!" Alfa in the Early 1990s. Like so many affluent women in Mexico, she always had a low profit, moved in the exclusive circles of the "oligrarchs," worked on charity projects and traveled abroad. The Alfa man had to look good on paper."[2]. And she claims further - "There are innocent people in jail blamed for Don Eugenio's assassination. But I want a lot of ordinary people to read this book. 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 low-cost steel producer that invested $982 million between 1990 and 1996 to modernize its facilities, it had the most diversified product line in Mexicos steel industry and was making products for use in the construction, auto parts, and home appliance industries. 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. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. de C.V., a public company with a business portfolio that . "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. D-40213 Dsseldorf 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. 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. . 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. Oversold stocks. (April 27, 2023). These children, in turn, intermarried with other prominent Monterrey families, including the Laguera and Seplveda families. 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 collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. 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. Hylsa became the largest privately run steel mill in Mexico, a fully integrated complex with activities ranging from mining and processing iron ore to finished products. 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. [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. "Alfa, S.A. de C.V. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). de C.V. (ALFA A) (Consumer Goods Conglomerates) 1,716,994,307: 35.6%: 1,085,964,559 USD Mr. Armando Garza Sada serves as an Executive Vice President of Corporate Development of Grupo Industrial Alfa, SA de CV. It operated more than 70 distribution centers. Menno Vellinga, Economic Development and the Dynamics of Class: Industrialization, Power and Control in Monterrey, Mexico (1979). lvaro Fernndez Garza. of C.V. Born in Monterrey, Mexico, 1957. . Fabiola Garza Sada is on the board of Nemak SAB de CV, Alfa Fundacin and Controladora Nemak SAB de CV. Armando Garza Sada, Chairman of the . [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. Garza was born into a business family, with his father founding the Cuauhtmoc Brewery in Monterrey in 1890. 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. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. Death: December 13, 1979 (84) Monterrey, Nuevo Leon, Mexico. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . Chicago, Illinois 60606-4678 In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. Armando Sada is 62, he's been the Independent Director of Cemex S.A.B. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. de C.V., Mexico 14th Annual Global CEO Survey Interview Transcripts In Vino Veritas. Alfa was a party to 11 joint ventures with foreign companies. The settlement of Alfas debt left unresolved Hylsas own debt, which in 1988 reached $1.2 billion to 68 lenders, including about $300 million in overdue interest. Keep supporting great journalism by turning off your ad blocker. Don't miss out this opportunity and join . He is also Professor at the University of Montral, Professor at Instituto Tecnol?gico y de Estudios Superiores de Monterrey, Professor at EGADE Business School and VP-Sustainability & Social Responsibility Culture at Sigma SA de CV and on the board of 6 other companies. He was President of Versax and of Sigma. 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). 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. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. 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. It is this Armando Garza Sada Chairman of the Board of Directors, Alfa, S.A.B. There had been frequent passionate in-fighting behind the facade of family unity, now it turned into a rift. In 1957 it patented HyL, a system of direct reduction known as fire sponging. [1] 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. 3738. ", Salinas says nothing can hold her back. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income fell to 444 million pesos ($130 million). "It took 3 1/2 months. Web site: http://www.thyssenkrupp.com Language links are at the top of the page across from the title. 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. . Family Tree . Telephone: (903) 855-1000 Garza Sada Family Monterrey, Mexico. The Garza Sada family has created a state within a state. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. Himself a graduate of the Massachusetts Institute of Technology, Garza Sada staffed top management with graduates of MIT, Harvard, and the University of Pennsylvanias Wharton School of Business.

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