Steel Mills

New president in Mexico could lead to AHMSA restart: AMLO

Written by Ethan Bernard

June 20, 2024

Outgoing Mexican President Andrés Manuel López Obrador (AMLO) said the incoming administration of Claudia Sheinbaum will be able to resolve the woes of shuttered steelmaker Altos Hornos de México (AHMSA).

Sheinbaum will be assuming the role of president in October.

In public remarks last week, Obrador said his administration “moved forward” but did not succeed in rescuing AHMSA because of “too much corruption,” according to Spanish-language periodical La Rancherita del Aire.

“I want to tell you that, with Claudia (Sheinbaum), what this region needs will be attended to … the problem of Altos Hornos de México has to be resolved,” Obrador said.

He cited Alonso Ancira, former president and owner of AHMSA, as a key obstacle, and suggested Ancira has sold off all his shares, which should aid a possible restart.

AHMSA ceased operations in December 2022 and entered into bankruptcy. Many of its assets have reportedly fallen into a state of disrepair. There have been many twist and turns since then. Some of the background can be found here.

A request for comment from AHMSA was not returned by time of publication.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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