According to local media reports, the evaluation process of bankrupt Mexican steelmaker Altos Hornos de Mexico’s (AHMSA) assets has been completed and the inventory of AHMSA has been presented to the court in charge of the company’s solvency.
As previously reported by SteelOrbis, after several investors’ attempt to take over the company fell through, control of AHMSA was transferred to trustee Victor Manuel Aguilera Gómez, who started the evaluation process of the company’s and its mining arm Minera del Norte’s (Minosa) assets for an auction. Minosa’s assets are still undergoing evaluation, after which the auction will take place. The successful auction of the assets may cover part of the debts and provide a comprehensive and sustainable solution for the future of the company and the Coahuila region that depended on the steelmaker.
The bankruptcy of AHMSA continues to show its effects on Mexico. This Wednesday, a group of former workers of AHMSA carried out a demonstration outside the National Palace for their demands like severance pay and fair wages that have been owed to them for more than two years.
With an annual steel production capacity of 5.5 million mt, AHMSA stopped production in December 2022 amid a default on its financial liabilities. The sources believe that a potential buyer in the auction may restart the company’s steel operations.