A frozen food plant and a cheese manufacturing facility were under construction. "I had to undress myself first, otherwise 'Our Group' could be discredited by people trying to expose me.". [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. : Grijalbo/Actualidad, 2006. "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 was all part of a plan," she says. 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. "Garza Sada Family [1] He also served as ALFA's former president. 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." In 1982 the Mexican economy hit the rocks. 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. 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., Under Bernardo Garza Sadas leadership Alfa diversified from its base into petrochemicals, synthetic fibers, capital machinery, farm equipment, television sets, and tourism. 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 observer said they always picked the kid with the Harvard MBA over the guy who really knew the business. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. Alfa did so well that the Garza Sada family was able to buy back much of the equity it had surrendered to its creditors. [2], The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. 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. 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. 19. "It's too close to a school, I am suddenly told by the authorities. "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. Los benemritos de Nuevo Len. Family Tree . Jos Hernndez Web site: http://www.mannesmann.com A Mexican millionaire has electrified the political and social scene here with a cutting expose in her versions of the secret goings-on in the inner circles of Mexico's wealthiest and most powerful family. Two of her eight children, directors in family companies, have been forced to resign, she claims, while one of her researchers has been beaten up and threatened. If not, a banker; a third way is to be a wealthy merchant, although they are up to a point despised; the last, and a good method, is of course to have an affair with a woman of the 'group.'". The Turning Point. To enter the "Monterrey Group's" social circuit, the best way, she writes, "is to be an industrialist. 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. 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. Under a complex arrangement, the creditor banks forgave $920 million in Alfas debt in return for 45 percent of its stock. de C.V. and Grupo Proeza, S.A.P.I. ALFA (Mexico) - Origins - Restructuring in The 1980s. In 1936 the family holdings, already vast, were divided into two separate industrial groups. Telephone: +49 (0) 211 820-0 ", Salinas suspects that her relatives will want to ruin her economically, although "that will take them a while. [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. 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. And she claims further - "There are innocent people in jail blamed for Don Eugenio's assassination. The company recorded the most profitable year of its history in 1988. 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. Don't miss out this opportunity and join . It also participates in the extraction of oil and natural gas, and offers IT & telecom services. International Directory of Company Histories. 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. By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. The chapters full of erotic scenes she says have a purpose: "I know I'm ridiculed for that because I'm a grandmother. [2] Additionally, Garza Sada was a member of the company's board of directors for two decades. Once Echeverria became president, she goes on, he began to press Don Eugenio to sell HYSA, the "group's "most powerful industry, producing 1.3 million tons of steel per year. 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. He has been a member of CEMEX, S.A.B. Her secretary and researchers would continue the work in the daytime. Most online reference entries and articles do not have page numbers. Web site: http://www.usg.com req.] (April 27, 2023). The early 1990s were not as good a period for Alfa, as world demand for petrochemicals and steel slowed. Eugenio Garza Sada (January 11, 1892 - September 17, 1973) was an industrialist in the city of Monterrey, Mexico best known for founding the Instituto Tecnologico y de Estudios Superiores de Monterrey (ITESM) school system in the country. In July 1982 it presented a restructuring plan that called for it to sell one-fourth of its assets over a five-year period. "So if the secret, passionate encounters came to a halt," she writes, "his tequila business received powerful injections of capital. Armando Garza Sada, Chairman of the . Last updated: 1 March 2023 at 11:00am EST. 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. Managed by: Roberto Armando Sada Villarreal. Sigenzas father was tutor to Prince Baltazar before going to New Spain. . The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. . Garza Sada Family: 35.63: Government Pension Fund - Global . 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. 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. "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. And anyway, all the private things I write, everyone knows about in Monterrey - employes, wives, servants. 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. de C.V., known as Cemex, is a Mexican multinational building materials company headquartered in San Pedro, near Monterrey, Mexico. Alfas total debt was 18.5 billion pesos ($2.7 billion). de C.V., El Puerto de Liverpool, S.A.B. The creditors also were paid $25 million by Alfa and $200 million in Mexican government debt. All of these conglomerates rank among the top fifty companies in Mexico. Public, The Goodyear Tire & Rubber Company Even the local federal attorney's office refuse to register Salinas' denuciations. "It's something I had to do," says Salinas. de C.V.s Board of Directors and corporate practices and finance committee since March 26, 2015. Refer to each styles convention regarding the best way to format page numbers and retrieval dates. Famous quotes containing the word family: " I swear . It soon set up its own glass . Alex Saragoza, The Monterrey Elite and the Mexican State, 18801940 (1988). 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. "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. Encyclopedia.com. The events that followed are still shrouded in mystery. It's very dangerous. Ori, Coahuila, third largest state in Mexico. "My children were furious about the first book. Alfa is listed on the Mexican Stock Exchange and the Latibex, the Latin American market in the Madrid Stock Exchange. 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. Everyone plays at convincing themselves that no one knows what everyone knows." . 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. Alestra began long-distance operations in Monterrey and Quertaro at the beginning of 1997 under the AT&T name. Alfa's total debt was 18.5 billion pesos ($2.7 billion). Encyclopedias almanacs transcripts and maps, Encyclopedia of Latin American History and Culture. The Alfa man had to look good on paper."[2]. With other partners, he established a number of major firms at the turn of the century, including Cervecera Cuauhtmoc (1890), whose partners, often related by marriage, included Jos A. Muguerza and Francisco Sada, and the Fundidora de Fierro y Acero, with Vicente Ferrara. (Mexico's central bank) from 1998 to 2008. [2] Alfa in the Early 1990s. He married Margarita Sada Garca on 11 February 1921, in Monterrey, Nuevo Len, Mexico. Yet if it were proved that the respected dean of Mexican business was killed by the right, this would throw a very different light on the turmoil of Echeverria's last years in office. 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. Web site: http://www.thyssenkrupp.com Alfa S.A.B. Bloomberg Markets Americas. Encyclopedia of Latin American History and Culture. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. 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 Mexico's steel industry and was making products for use in the construction, auto parts, and home appliance industries. 27 Apr. ." The Life Summary of Roberto. Mexico, D.F. de C.V., also known as Alfa or Alfa Group, is a Mexican multinational conglomerate headquartered in Monterrey, Mexico. We would like to show you a description here but the site won't allow us. 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. 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. 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. 19. The collapse of the peso in late 1994 took a heavy toll on Alfa, as on other Mexican enterprises. Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA). That year it sold its 51 percent stake in one of the Monterrey Groups oldest holdings, the paper and packaging subsidiary Empaques de Carton Titan. As an era of high prices for Mexicos 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. Before that, he was the director for . All rights reserved. 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. Telephone: (903) 855-1000 A frozen food plant and a cheese manufacturing facility were under construction.