A month after a federal court declared the Mexican steelmaker Altos Hornos de Mexico (AHMSA) bankrupt due to insolvency, the trustee has begun the valuation of the steelmaker's assets for sale at public auction, the company reported.
After the valuation, a call will be made for potential buyers at a public auction or it could be done differently if the trustee considers that the sale price can be maximized, according to the Bankruptcy Law.
AHMSA is an integrated steelmaker with iron ore mining complexes and a production capacity of 5.5 million metric tons per year through two blast furnaces and 1.2 million with an electric arc furnace (EAF).
The bankruptcy sale of assets will be done free of labor and financial liabilities. Experts have said that the potential buyer could reactivate steel production through the EAF.