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). Garza Sada Family: 35.63: Government Pension Fund - Global . Alfa, S.A. de C.V. -- Company History Sigma was planning to make frozen Mexican food for both the domestic and U.S. markets. 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." "We demand that!" 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. But they have already managed to get an airport which I own closed down, "she claims. . The memorial is located at the crossroad where Garza Sada died in 1973. Web site: http://www.usg.com //Eugenio Garza Sada on Instagram: "APPLY NOW! We already start the His government, Echeverria is reported to have said, must adopt the apparent position of defending the masses and turning against the entrepreneurs. One observer said they "always picked the kid with the Harvard MBA over the guy who really knew the business. "We manage these ventures, always", Garza Sada told Forbes in 1979. "It's something I had to do," says Salinas. 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). There had been frequent passionate in-fighting behind the facade of family unity, now it turned into a rift. 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. de C.V., a public company with a business portfolio that . 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. 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. After studying merchandizing in Santander, Spain, he went into the grocery business with Jos Caldern, who married his aunt. By the end of the year it was predicting a $60 million loss and it finally reported an actual loss of $120 million. The company unwisely abandoned its prudent traditional policy of only integrating firms that had similar or complementary products. Sectorial interests include, but is not limited to, Consumer Products, Financial Institutions and . [1] Its distribution network included 50 refrigerated warehouses and a fleet of more than 800 refrigerated vehicles, including 570 delivery trucks. He was President of Versax and of Sigma. 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. It operated more than 70 distribution centers. "Mexican Businessman Bernardo Garza Sada Dies", "Mexican magnate Bernardo Garza Sada dies at 79", "Muere el empresario Bernardo Garza Sada", https://en.wikipedia.org/w/index.php?title=Bernardo_Garza_Sada&oldid=1147935076, Massachusetts Institute of Technology alumni, Articles with dead external links from April 2023, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 3 April 2023, at 03:52. Then police raided the author's home, seized her private copies and charged the book was "vulgar" and "libelous.". Again, Don Eugenio agreed and, in so doing caused a great uproar within the family. https://www.encyclopedia.com/books/politics-and-business-magazines/alfa-sa-de-cv, "Alfa, S.A. de C.V. 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. Before the year was out the government had extended Alfa an emergency aid package of 12 billion pesos ($480 million). Manufacturing ventures in television sets, bicycles, and tractors were sold.