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. Alfas stake was held through its subsidiary AlfaTelecom, S.A. de C.V. Even the local federal attorney's office refuse to register Salinas' denuciations. de C.V. and Grupo Proeza, S.A.P.I. "[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. Her secretary and researchers would continue the work in the daytime. 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. Keep supporting great journalism by turning off your ad blocker. Monterrey, Mexico: Comit de Archivo y Biblioteca, Congreso del Estado de Nuevo Len, 2003. 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. NAIC :32562 Toilet Preparatio, 125 South Franklin Street Alfa, S.A. de C.V. | Encyclopedia.com [1] He also served as ALFA's former president. Grupo Alfa profits would know no limit.". Most online reference entries and articles do not have page numbers. "People have to know about those that have the economic power in Mexico. "We manage these ventures, always," Garza Sada told Forbes in 1979. It operated more than 70 distribution centers. Salinas did not leave her home for three weeks. De C.V. In 1982 the Mexican economy hit the rocks. Another son, Isaac, took over another set of firms, and also developed his own businesses. Alfa S.A.B. 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. "Alfa, S.A. de C.V" International Directory of Company Histories, Vol. CEMEX, S.A.B. DE C.V. : Shareholders Board Members Managers and Company By 1980 it had 157 subsidiaries in 39 branches of the economy. 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. According to the 1987 FORBES inaugural list of the World's Billionaires, Brazil's Ermirio de Moraes family ($2 billion net worth) and Mexico's Garza Sada family ($1.3 billion net worth), were the . Los benemritos de Nuevo Len. "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. de C.V., all of which are public companies, as well as Instituto Tecnolgico y de Estudios Superiores de Monterrey. Language links are at the top of the page across from the title. Trefilia has a portfolio of both direct investments and investments in VC and P/E funds. 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. This subsidiary accounted for 12 percent of Alfas revenues in 1996. 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. Source: International Directory of Company Histories, Vol. lvaro Fernndez Garza - Biography - MarketScreener.com (June 3, 1853 - May 1, 1933) was a Mexican businessman who redirected to industry the interests of the Garza family which, according to Fortune Magazine, are the Mexican equivalent of the Rockefellers This page was last edited on 27 November 2020, at 12:18 . 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. Although Alfa formed joint ventures with Hercules and American Petrofina to produce polyester, Du Pont to produce other synthetic fibers, Ford to turn out aluminum cylinder heads, and Hitachi to make electric motors, it insisted on control. . Bernardo Garza Sada (1930 7 November 2009) was a Mexican businessman who founded the Grupo ALFA conglomerate in 1974. Telephone: (903) 855-1000 ", Salinas says nothing can hold her back. Armando Garza Sada (deceased) - Genealogy 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. . Another important subsidiary was Dinamica, S.A., which acted as the service group for the holding company. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). She is going mad, and the worst part is that she has money so it is difficult to stop her. Pratt, Lawrence, Alfa of Mexico Stops Paying Debt Principal, Wall Street Journal, April 28, 1982, pp. All of these conglomerates rank among the top fifty companies in Mexico. Isaac Garza Garza - Wikipedia By the end of 1988 it had sold most of its food, and all of its tourism, real estate, and electric home-appliance holdings, retaining only two dozen subsidiaries. In 1982 the Mexican economy hit the rocks. He also said Alfa would enter retailing by opening 25 home-improvement stores over the next five years. 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. This company was involved in the entire steelmaking process from mining iron ore to manufacturing and distributing steel products. Therefore, its best to use Encyclopedia.com citations as a starting point before checking the style against your school or publications requirements and the most-recent information available at these sites: http://www.chicagomanualofstyle.org/tools_citationguide.html. Its own subsidiaries included Petrocel, S.A.; Nylon de Mexico, S.A. (60 percent); and Polioles, S.A. de C.V. (51 percent). 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. "My children were furious about the first book. Alestra began long-distance operations in Monterrey and Quertaro at the beginning of 1997 under the AT&T name. The Larrea family is the second richest family in Mexico according to Forbes magazine. 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..
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