Franco Senz, Hctor. Expecting problems, Salinas says she decided to write the book secretly. //]]>, 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. A frozen food plant and a cheese manufacturing facility were under construction. 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. Germany By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. But they have already managed to get an airport which I own closed down, "she claims. ", Salinas says nothing can hold her back. Armando Sada is 62, he's been the Independent Director of Cemex S.A.B. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income . Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). 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. Menno Vellinga, Economic Development and the Dynamics of Class: Industrialization, Power and Control in Monterrey, Mexico (1979). Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. The corporate staff was slashed from 4,000 to 1,000, and later to 400. 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. But I want a lot of ordinary people to read this book. All of these conglomerates rank among the top fifty companies in Mexico. de C.V., Mexico 14th Annual Global CEO Survey Interview Transcripts 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. 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. . Stockton, William, Banks To Get Stake in Mexicos Alfa, New York Times, December 11, 1986, p. D10. This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. In retrospect, following Alfa's near-bankruptcy in 1982, Alfa's success bred arrogance. He . Alfa was a party to 11 joint ventures with foreign companies. CEMEX S.A.B. Mexico, D.F. Echeverria's supporters, in turn, charged the "Monterrey Group" had a guiding hand in the rapid weakening of the economy by starting the massive flight of capital - $4 left Mexico within a short period - and precipitating the peso devaluation. Ori, Coahuila, third largest state in Mexico. lvaro Fernndez Garza. 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. Fernndez Menndez, Jorge. One observer said they always picked the kid with the Harvard MBA over the guy who really knew the business. 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. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. ", No member of the Garza Sada family has made statements to the press. 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. de C.V.s Board of Directors and corporate practices and finance committee since March 26, 2015. 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). [2], 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. Garza Sada Family - ARTnews.com Hylsa became the largest privately run steelmaker in Mexico, a fully integrated complex with activities ranging from mining and processing iron ore to finished products. In 1993 the company had revenues of 8.56 billion pesos ($2.5 billion), but operating income fell to 444 million pesos ($130 million). ALFA (Mexico) - Wikipedia Web site: http://www.thyssenkrupp.com The settlement of Alfa's debt left unresolved Hylsa's own debt, which in 1988 reached $1.2 billion to 68 lenders, including about $300 million in overdue interest. Mr. Garza Sada holds a Bachelors degree from the Massachusetts Institute of Technology and an M.B.A. from Stanford University. 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. [2] ALFA currently consists of four major operations and consortia as of 2009 - Alpek, which produces petrochemicals and synthetic fiber; Sigma, which manufactures food; Nemak, which builds automotive parts; and Alestra, which consists of ALFA's telecommunications arm. In 1982 the Mexican economy hit the rocks. D-40213 Dsseldorf 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. Copyright (c) 2022 Company-Histories.com. 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. Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. Also, he held executive positions at ALFA, Polioles and Selther. ", Salinas suspects that her relatives will want to ruin her economically, although "that will take them a while. International Directory of Company Histories. One observer said that Alfa "bought businesses like someone would buy candies for their children." 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. She alleges she was surrounded by cars full of gunmen and was swamped with telephone threats. Language links are at the top of the page across from the title. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Most online reference entries and articles do not have page numbers. Eventually, in 1986, Alfa paid off about five dozen foreign banks in stock. Family Tree . Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. Alfa, S.A. de C.V. | Encyclopedia.com Garza Sada Sada, Dionisio was born on August 8, 1928 in Monterrey, Nuevo Len, Mexico. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. Echeverria is now accused of fostering letfism and chaos. It was not only the leading private firm in Mexico but in all of Latin America. ALFFF: Get the latest Alfa SAB de C stock price and detailed information including ALFFF news, historical charts and realtime prices. It is the largest of the four holding companies that constitute the Monterrey Group, which encompasses the holdings of the extended Garza Sada family, Mexicos wealthiest. Encyclopedias almanacs transcripts and maps, Encyclopedia of Latin American History and Culture. The two men did the firing were found dead later that day, their bodies thrown behind a cemetery Salinas says she has had access to court documents, judges and cabinet ministers and writes of contradictions between statements of police, witnesses and the accused. The Garza Sadas continue to be a dominant force among Mexican capitalists, as shareholders and board members of leading industrial firms, as members of entrepreneurial interest groups, as leaders of business organizations, and as managers of major industrial holding groups. Augustinians, a Roman Catholic religious order of priests and brothers named after the fifth-century bishop and saint Augustine of Hippo. 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 Telefonos de Mexico. "The great absolutely pagan parties they gave could always keep the appearance of charity thanks to the ingenuous Franciscan monks who would attach their names to such events," Salinas writes. Armando Garza Sada is Chairman at Alfa Sab de CV. Hylsa became the largest privately run steelmaker in Mexico, a fully integrated complex with activities ranging from mining and processing iron ore to finished products. Armando Garza Sada: ALFA S.A.B. Chairman of the Board of Directors of ALFA, S.A.B. Alfa in the Early 1990s. . Biography. Armando Garza Sada serves as Independent Director of the Company. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. Retrieved April 27, 2023 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv. Garza Sada is currently the Chairman of the Board of Directors of ALFA, S.A.B. 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. It soon set up its own glass . All rights reserved. Sales :$6.07 billion (1997 est.) 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. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. With a population of 2,495,200 (2005) and an area of 58,522 square miles, Coahuila lies south of Texas along, Garvie, Maureen 1944-(Maureen McCallum Garvie), https://www.encyclopedia.com/humanities/encyclopedias-almanacs-transcripts-and-maps/garza-sada-family. . Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. It also took a quarter share in Grupo Televisa, which virtually monopolized Mexican television broadcasting. 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