[2] Additionally, Garza Sada was a member of the company's board of directors for two decades. By 1980 it had 157 subsidiaries in 39 branches of the economy. . Garza Sada Family, major Mexican entrepreneurial family. 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. 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. 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. 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. It was therefoe not surprising that presidential candidate Luis Echeverria had close contact with Don Eugenio or, Salinas recounts, that he alerted him in the late '60s that the social tensions and the recent army repression demanded a tactical change. These included the original brewery, Cervecera Cuauhtmoc; a bottling company, Hojalata y Lmina; and Empaques de Cartn Titn, a packaging firm. Public Compa, August-Thyssen-Strasse 1 Roberto Garza Sada (1895 - 1979) - Genealogy Managed by: Roberto Armando Sada Villarreal. What is garza sada family? | Technology Trends Biography. 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. 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. Before that, he was the director for . Rosario Garza Sada, Roberto Garza Sada, Eugenio Garza Sada, Consuelo Garza Sada, . 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. (Mexico's central bank) from 1998 to 2008. 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). There had been frequent passionate in-fighting behind the facade of family unity, now it turned into a rift. And anyway, all the private things I write, everyone knows about in Monterrey - employes, wives, servants. In retrospect, following Alfa's near-bankruptcy in 1982, Alfa's success bred arrogance. This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. In 2013, it was the seventh largest company of Mexico according to CNN Expansin.[1]. Hylsa (now Hylsamex) and Sigma Alimentos, the food subsidiary, received their own separate stock listings to reduce their dependence on the parent company. It's very dangerous. A new flat-steel minimill was opened that year. Under a complex arrangement, the creditor banks forgave $920 million in Alfa's debt in return for 45 percent of its stock. Alfa also was required to divest itself of an undisclosed number of companies that were not part of its core business. req.] But as successive Mexican administrations cried for rapid industrialization and the "group" with government support, expanded it became the nation's most powerful political lobby, speaking for the moneyed classes of Mexico. 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. The Garza Sada family has created a state within a state. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). Alfa was a party to 11 joint ventures with foreign companies. And she claims further - "There are innocent people in jail blamed for Don Eugenio's assassination. Oil prices would know no limit. It soon set up its own glass . Chairman of the Board, Alfa. Garza Sada Family | Encyclopedia.com A foreign bank representative recalled, "They were on the same kind of roll that the Mexican government was on then. Also, he held executive positions at ALFA, Polioles and Selther. 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. Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. 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). Armando Garza Sada. [1] He also served as ALFA's former president. Monterrey, Mexico: Comit de Archivo y Biblioteca, Congreso del Estado de Nuevo Len, 2003. By 1980 it had 157 subsidiaries in 39 branches of the economy. A new flat-steel minimill was opened that year. Bernardo Garza Sada. [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. Gold and Silver. Germany Mexico, D.F. 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. Pittsburg, Texas 75686-0093 The huge conglomerates now embrace chemical, steel and cement Plants, textiles, television, two nationwide banking chains and employ 80,000 people. de C.V., also known as Alfa or Alfa Group, is a Mexican multinational conglomerate headquartered in Monterrey, Mexico. It manufactures and distributes cement, ready-mix concrete and aggregates in more than 50 countries. Telephone: (903) 855-1000 Famous quotes containing the word family: " I swear . The Turning Point. Whatever the truth about the Garza Sada killing, it was a turning point in the Echeverria regime. After Eugenio Garza Sada, head of the Monterrey Group, was murdered in 1973 in what was described as an abortive kidnapping by left-wing terrorists, the family empire broke into four parts. Twitter He was President of Versax and of Sigma. "I had to undress myself first, otherwise 'Our Group' could be discredited by people trying to expose me.". MarketScreener: Created by Investors for Investors! The authorities, not given to public explanations, have said nothing about the book's confiscation or its contents, the most controversial part of which relates to the murder of the family patriarch. Alfa has operations in Mexico, the United States and other 21 countries across the Americas, Europe and Asia. de C.V. (BMV: ALFAA) ("ALFA") held its Annual General Shareholders' meeting today. The most famous of these groups, the ALFA industrial group, the . 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. 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). Fax: ( +49 211) 824-36000 Echeverria is now accused of fostering letfism and chaos. 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. [2] In a statement released posthumously, ALFA called Garza Sada, "Leader and visionary businessman, promoter of education and social responsibility, driving force for the growth of the company and the country."[1]. Behind the Facade. 2019Encyclopedia.com | All rights reserved. Telephone: ( +49 211) 824-0 Armando Garza Sada. CEMEX, S.A.B. DE C.V. : Shareholders Board Members Managers and Company Eugenio Garza Sada on Instagram: "APPLY NOW! We already start the 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. a Family Office launched in 2013. 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. 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. Web site: http, Mannesmannufer 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. The Alfa man had to look good on paper.. The Alfa man had to look good on paper.". "[2], 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. [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. This subsidiary accounted for 12 percent of Alfa's revenues in 1996. 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. Discover the family tree of Eugenio Garza Sada for free, and learn about their family history and their ancestry. Retrieved April 27, 2023 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv. Five leftist guerrillas, charged with "plotting the kidnapping," have been in Monterrey jail for 4 1/2 years without trial or sentence. Riding, Alan, Monterrey Group: A Family of Wealth and Symbol of Economic Independence, New York Times, October 21, 1974, p. 53. 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. Mr. Garza Sada serves as a General Director of Versax S.A. De C.V, Selther, Polioles and Sigma. Chicago, Illinois 60606-4678 Global Development Council | Harvard Kennedy School 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. Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. Guaguacoa Carrizalejo on Instagram: "Nos encontramos sobre la ave Not just a few insiders, the politicians or the businessmen. [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. "There is no falling out", one source explained to The New York Times. 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. There is no falling out, one source explained to the New York Times. Alfa in the Early 1990s. Husband of Mara Aurora Sepulveda. In 1978 Alfa was the only Mexican company in the Fortune 500 list of the biggest companies outside the United States, except for state-owned Petroleos de Mexico (Pemex). A frozen food plant and a cheese manufacturing facility were under construction. Eugenio, the oldest of this generation, took over the leadership of a major group of interlocking corporations, which became known popularly as the "Monterrey Group." 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 Isaac Garza Garza, his brother-in-law, Francisco Sada Muguerza, and two others. In 1957 it patented HyL, a system of direct reduction known as fire sponging. [2], Alfa celebrated the restructuring of its debts with an elaborate outdoor mass on a Monterrey baseball field in 1988, attended by 10,000 employees. 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.
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