Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) is reportedly operating at only 30 percent of its capacity, according to a media report by El Financiero. The company has a 5.5 million mt/year crude steel capacity.
According to the media report, the company’s weak steel output volumes have not impacted domestic steel prices in Mexico. The report noted AHMSA could slowly recover steel output, as the company’s acquisition by Grupo Villacero advances; the deal is yet to be completed.
As previously reported by SteelOrbis, Alianza Minerometalúrgica Internacional will buy a 55 percent stake at Grupo Acerero del Norte (GAN), the holding company that controls Mexican steelmaker Altos Hornos de Mexico.
In December, AHMSA’s board of directors allowed the company to continue negotiations with Grupo Villacero for an acquisition or merger, the nature of which not disclosed at the time.
AHMSA said the acquisition of a 55 percent stake at GAN, which owns AHMSA, is still subject to regulatory approval. A media report by El Financiero noted Alianza Minerometalúrgica is made up of a group of financing executives led by Grupo Villacero.