Managers, technicians and financiers of the Asian company China Steel Corporation (CSC) visited the facilities of the paralyzed steel mill Altos Hornos de México (AHMSA). The visit to the northern city of Monclova, Coahuila was led by the CEO of the American financial company Argentem Creek Partners, Daniel Chapman, local newspapers in the region reported today, with photographs of the visitors.
The newspapers El Siglo de Torreón, Vanguardia and Periódico La Voz reported that in addition to the Argentem and CSC personnel, the largest creditor of the steel company Cargill and also potential investors from the Kickapoo Tribe of Texas were also at the AHMSA facilities.
With an annual production capacity of 10 million tons of liquid steel, CSC is the largest steelmaker in Taiwan. Produces plates, bars, wire rods, hot and cold rolled coils, electrogalvanized coils, electrical steel coils, and hot-dip galvanized coils.
According to press reports, the visitors were attended by Luis Zamudio Miechielsen, General Director of AHMSA. They also received the (indirect) greeting from Manolo Jiménez Salinas, the elected governor of Coahuila who will take office in two weeks (December 1).
SteelOrbis consulted information sources directly related to AHMSA and they mentioned that it was an evaluation of technicians for the next restart of production in the company. Unlike the newspapers, which even published photographs of the visitors, the information source consulted said that they were technicians from various companies in China and not necessarily from CSC.
AHMSA is in legal proceedings to restructure its debts. A federal judge's ruling is for $2.29 billion in debt. According to the steel company's income statement at the end of 2022, which was reviewed by SteelOrbis, it indicates that the company's total liabilities were $3.20 billion and its assets were $2.30 billion, which results in a negative stockholders' equity of almost $900 million.