Altos Hornos de México (AHMSA), the steel company owned by Alonso Ancira Elizondo until a few years ago, is expected to file for bankruptcy at any moment, the firm announced on Friday.
In a statement, the company located in Monclova, Coahuila, said that after concluding the last extension of the conciliation stage in its bankruptcy proceedings, it will enter the bankruptcy phase, a declaration that will be issued at any time by the head of the Second District Court, Ruth Haggi Huerta.
The steel company, which was one of the main ones in the country for generating 17 thousand direct jobs, indicated that in this new stage, the Federal Institute of Specialists in Commercial Bankruptcy (IFECOM) will appoint a trustee who will assume control of the steel company.
The firm noted that the current administration of AHMSA, advised by the financial firm Rothschild & Co and under the supervision of the conciliator Víctor Manuel Aguilera, seeks to attract both national and foreign investors to capitalize the company to resume operations as soon as possible in Monclova.
“Talks are ongoing with seven potential investors and steel companies, two of which have already conducted due diligence visits and more are expected in the coming weeks to assess the status of the assets and determine the viability of the operation,” he said.
He said that if an agreement is reached in the coming months, it would open up the possibility of reactivating the company and preserving the source of employment.
It is estimated that more than 50 percent of the population of Monclova depends on this company, as well as nearby areas such as Nava and Hércules in Coahuila, La Perla in Chihuahua and Cerro de Mercado in Durango.
“AHMSA acknowledges and appreciates the support and patience of its former workers, laborers and employees and reaffirms its commitment to all interested parties to carry out this process in a transparent manner and in strict compliance with the corresponding legal regulations,” the company concluded.
The steel company’s financial problems stemmed from its commitment to pay $216 million to Petróleos Mexicanos (Pemex) to conclude the criminal case against Ancira Elizondo.
The Attorney General’s Office (FGR) accused the businessman of the crime of operations with illicit proceeds by illegally obtaining funds for the sale of Agronitrogenados to Pemex, and also because he gave a bribe of 3 million 500 thousand dollars to Emilio Lozoya Austin, director of Pemex in the previous administration, in order to complete the negotiation.
The businessman was arrested in Spain in 2019 and imprisoned after being extradited to Mexico as part of the criminal proceedings.
On June 26, the Federal Labor Court for Collective Affairs, based in Mexico City, notified AHMSA and the National Union of Mining Workers of the legal outbreak of a strike at the Hercules Unit of its subsidiary
Minera del Norte (MINOSA), due to alleged violations of the collective bargaining agreement, but the firm asked that it be declared non-existent, since operations have been halted for more than a year and that subsidiary was declared bankrupt on May 6.
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– 2024-08-15 05:04:06
