Ternium interested in acquiring AHMSA

Friday, 01 November 2019 21:44:28 (GMT+3)   |   Sao Paulo
       

Latin America-focused steelmaker Ternium would be interested in acquiring local integrated steelmaker Altos Hornos de Mexico (AHMSA) if the company is up for sale, a top executive said this week.

Ternium CEO, Maximo Vedoya, told analysts in a conference call Ternium be interested in buying AHMSA, as part of Ternium’s growth strategy, a media report from El Financiero said.

“If somebody seeks (to buy) this company (AHMSA), it could be good for the steel industry. Ternium always analyzes acquisition opportunities in the North-American continent,” Vedoya said.

“As you know, Ternium has a long history of growth organically and through acquisitions,” the CEO said.

El Financiero said market analysts suggest AHMSA might either close a partnership or be sold, following a recent scandal involving its board president, Alonso Ancira, who was detained in Spain over corruption charges.

In late October, AHMSA posted its third consecutive quarterly loss thus far in the year. AHMSA reported a net loss of MXN 2.26 billion ($118.3 million) in Q3, down from a net profit of MXN 360 million ($18.8 million) in the same quarter of the year prior.

 


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