. Los benemritos de Nuevo Len. 1144 East Market Street 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. All rights reserved. The net worth of Bernardo Garza Sada and his family was estimated at $1.2 billion in 1996. It was not only the leading private firm in Mexico but in all of Latin America. "[2], Under Bernardo Garza Sada's leadership Alfa diversified from its base into petrochemicals, synthetic fibers, capital machinery, farm equipment, television sets, and tourism. All of these conglomerates rank among the top fifty companies in Mexico. Expecting problems, Salinas says she decided to write the book secretly. What is garza sada family? | Technology Trends "There is no falling out", one source explained to The New York Times. Encyclopedia of Latin American History and Culture. The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. 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. de C.V., known as Cemex, is a Mexican multinational building materials company headquartered in San Pedro, near Monterrey, Mexico. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. In 1982 the Mexican economy hit the rocks. Hippocrates (c. 460-c. 370 B.C.) Garza Sada is currently the Chairman of the Board of Directors of ALFA, S.A.B. The corporate staff was slashed from 4,000 to 1,000, and later to 400. of C.V. Born in Monterrey, Mexico, 1957. . 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. Public Compa, August-Thyssen-Strasse 1 [2] Additionally, Garza Sada was a member of the company's board of directors for two decades. 4449, 52. In 1957 it patented HyL, a system of direct reduction known as fire sponging. Oil prices would know no limit. Pratt, Lawrence, Alfa of Mexico Stops Paying Debt Principal, Wall Street Journal, April 28, 1982, pp. 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. estimated between 1909 and 1969. St. James Press, 1998. 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). 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. 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. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). Refer to each styles convention regarding the best way to format page numbers and retrieval dates. Brazil Tops Latin Billionaires On List's 3rd Decade, While - Forbes It soon set up its own glass . Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). But this is how things are done high up. Fax: (903) 856-7505 27 Apr. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Web site: http, Mannesmannufer 2 Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. She alleges she was surrounded by cars full of gunmen and was swamped with telephone threats. 27 Apr. All of these conglomerates rank among the top fifty companies in Mexico. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. 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 . NAIC :32562 Toilet Preparatio, 125 South Franklin Street 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. ", Salinas suspects that her relatives will want to ruin her economically, although "that will take them a while. It is a constituent of the IPC, the main benchmark index of the Mexican Stock Exchange, and of the S&P Latin America 40, which includes leading, blue chip companies from Latin America. Armando Garza Sada Net Worth (2023) | wallmine . He was President of Versax and of Sigma. Eugenio Garza Lagera is 72 years old. 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. Roderic Ai Camp, Entrepreneurs and Politics in Twentieth Century Mexico (1989). All rights reserved. 17, 25. 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. Monterrey, Mxico: Gobierno del Estado de Nuevo Len, 1994. //]]>, 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. : Grijalbo/Actualidad, 2006. Finally, the author alleges, the decision was taken by some family members to kill the 81-year-old man because he was clearly losing his mind. de C.V., El Puerto de Liverpool, S.A.B. Monterrey, Mexico: Comit de Archivo y Biblioteca, Congreso del Estado de Nuevo Len, 2003. 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. Eugenio Garza Sada : Family tree by Seminario de Genealoga Mexicana Or purchase a subscription for unlimited access to real news you can count on. 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. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. In 1957 it patented HyL, a system of direct reduction known as fire sponging. He has been a member of CEMEX, S.A.B. Isidro Vizcaya Canales, Los orgenes de la industrializacin de Monterrey (1971). Debtwire's shareholder profile of the Garza Sada family - (Alfa, Femsa 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). This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. 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. de C.V., Grupo Lamosa, S.A.B. Finally, we can read about how these great companies came about with Company Histories.. 19. "We manage these ventures, always," Garza Sada told Forbes in 1979. Operating income was a record $425 million and special gains related to the debt restructuring and the pesos stabilization against the dollar added $575 million more. Monterrey Group: A Family of Wealth and Symbol of Economic Independence That year it sold its 51 percent stake in one of the Monterrey Group's oldest holdings, the paper and packaging subsidiary Empaques de Carton Titan. The "group" was generally regarded as responsible for initiating a whispering campaign that Echeverria was planning a coup to remain in power which turned his final months into a period of near-national hysteria. Then police raided the author's home, seized her private copies and charged the book was "vulgar" and "libelous.". de C.V., BBVA Bancomer, Nemak S.A.B. "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.". Ori, Coahuila, third largest state in Mexico. This would bring Mexico's basic industries - oil and electricity were already nationalized - under state control and would represent a major patriolic achievement for Echeverria. Encyclopedia of Latin American History and Culture. ." Bernardo Garza Sada (1930 - 7 November 2009) was a Mexican businessman who founded the Grupo ALFA conglomerate in 1974. "They also said that Martha Mitchell was mad. If she knew there would be so much trouble, why did she write the book? 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. Public, The Goodyear Tire & Rubber Company "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. Garza Sada Sada, Dionisio was born on August 8, 1928 in Monterrey, Nuevo Len, Mexico. ALFA holds Annual General Shareholders' Meeting - PR Newswire Husband of Margarita G Sada Garcia. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). . Armando Garza Sada. Largely because of the collapse of the peso and heavy interest obligations, Alfa lost $233 million and suspended principal as well as interest payments. The untimely death of Eugenio Garza Sada, who was murdered in September 1973, served as a catalyst in breaking up the beer, glass, and steel empire into four separate, but complementary, holding companies. ", 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. Global Development Council | Harvard Kennedy School Web site: http://www.thyssenkrupp.com Armando Garza Sada | Wilson Center Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. 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. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. 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. A new flat-steel minimill was opened that year. Alfa is listed on the Mexican Stock Exchange and the Latibex, the Latin American market in the Madrid Stock Exchange. Dsseldorf, 40211 . Fabiola Garza Sada - Biography Just days before publication, 30 state police burst into the printer's shop and took off with 17,000 copies, the plates, the manuscript and the printer himself. De C.V. is Everardo ElizondoAlmaguer, 76, who is the Independent Director. Biography. The company recorded the most profitable year of its history in 1988. The chapters full of erotic scenes she says have a purpose: "I know I'm ridiculed for that because I'm a grandmother. Alfa's stake was held through its subsidiary AlfaTelecom, S.A. de C.V. 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. "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. Augustinians, a Roman Catholic religious order of priests and brothers named after the fifth-century bishop and saint Augustine of Hippo. When Roberto Garza Sada was born on 9 December 1895, in Monterrey, Nuevo Len, Mexico, his father, Isaac Garza de la Garza, was 42 and his mother, Consuelo Sada Muguerza, was 27. Sigenzas father was tutor to Prince Baltazar before going to New Spain. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. [2], One of the two heads Eugenio Garza Sada, of the Monterrey Group, was murdered in 1973 in what was described as an abortive kidnapping by left-wing terrorists, but before this happened, he and his brother Roberto Garza Sada had divided the company into two parts.