The article details the eight-decade history of FATE, a company that has evolved from a small plant to a major industrial player in Argentina, manufacturing calculators and being a sponsor for football clubs River and Boca in the 1980s.
FATE's history spans over eight decades, marking significant phases of industrialization and economic challenges in Argentina. Founded in 1940 as the Fábrica Argentina de Telas Engomadas, the company began with a workforce of just 60 employees, experiencing various challenges including import restrictions and the fluctuating demands of the manufacturing sector. FATE became notable for producing scientific calculators that gained popularity across the region, illustrating its adaptability and growth amidst evolving economic landscapes.
The Madanes family has played a pivotal role in FATE's journey, beginning with Leiser Madanes, a Polish immigrant who founded the company's precursor, focusing on raincoats in the Once neighborhood of Buenos Aires. This familial connection provided stability and vision, enabling the company to navigate complex economic environments, particularly during the post-World War II era when local access to strategic materials like rubber became increasingly difficult. Javier Madanes, the current president, reflects on this legacy and the company's ability to expand its reach and product lines over the years.
FATE's sponsorship of iconic football teams River Plate and Boca Juniors in the 1980s symbolized its significant presence in Argentine culture and football, enhancing its brand visibility and association with national pride. As the company continues to innovate and adapt to modern realities, its four-decade-long story serves as a testament to resilience and the crucial role of industrial enterprise in Argentina's economic framework.
