Two Mexican institutions reportedly froze the accounts of suppliers for Altos Hornos de Mexico (AHMSA), as they expect the steelmaker to pay delayed services and products.
A media report by Milenio said AHMSA’s lack of payment hampered the financial profile of local suppliers, which expect delayed AHMSA payments. The accounts were reportedly frozen by the Mexican Social Security Institute, IMSS, and local housing regulator, Infonavit.
The media report said several Mexican AHMSA suppliers had to sell equipment and take extreme measures to have a minimal cash flow.