Mexican steelmaker Altos Hornos de Mexico will have new owners with the signing of a contract for the sale of a controlling share package to a group of foreign investors, according to Periodco La Voz, ending Latin American King of Steel Mr. Alonso Ancira Elizondo’s 32 years long inning, ushering in a new era.Throughout the years AHMSA faced a series of complications, however nothing compared to the last 4 years, in which it not only faced an economic crisis but also a political persecution that plunged the company into the worst crisis in history and that placed it on the brink of bankruptcy. Finally, and after a series of negotiations in which the best alternative for the company was sought, it is announced that Mr. Alonso Ancira completed the sale of the company, thus giving way to arrival of new investors, who will represent the fourth stage of the company.1942 - Altos Hornos was created, promoted by a group of businessmen who supported the project of the American Harold Robert Pape.1971 - Federal Government assumes the direct direction of the company.1991 - Grupo Acerero del Norte acquires the company.2023 - New investor assumes the company.Mr. Alonso Ancira took over the management of Altos Hornos de México in 1991, after the Federal Government decided to privatize the steel company in the face of the crisis it faced due to administrative failures, for which Grupo Acerero del Norte assumed control. In 2019 Mr. Alonso Ancira announced a significant investment that will increase the company's production levels, as well as the lifting of suspension of payments that had been in place since 1999. The announcement of the investment of MXN 300M for AHMSA occurred on 20 May 2019. Just 8 days later, on 28 May 28, Mr. Alonso Ancira was arrested in Palma de Mallorca, Spain by the Interpol in connection with the 2014 sale of a fertilizer plant to PEMEX, the Mexican-state oil company, after being accused by the Government of President Andrés Manuel López Obrador for selling the agro nitrogen plant at an overpriced price. The bank accounts of Altos Hornos and Mr. Emilio Lozoya Austin, the former CEO of PEMEX, were frozen 24 hours earlier. After Mr. Alonso Ancira's arrest came the debacle of the company, after the freezing of accounts that affected its production. Mr. Alonso Ancira carried out a large part of the process on probation in Spain, but in November 2020 he was arrested again and in February 2021 he was extradited to Mexico to carry out his process. In March 2021, Mr. Alonso Ancira established an agreement with PEMEX to repair the damage, with the payment of 216 million dollars, in installments, for which he was released and moved to San Antonio in Texas, where he remains to this day.Altos Hornos de Mexico is the largest integrated steel plant in Mexico. It has corporate offices in Monclova in Coahuila state of Mexico. Two steel plants operate in an area of nearly 3,000 acres. AHMSA extracts coal and iron ore. The company has its own coal mines in Palau. The main source of iron ore is located in Hercules in Coahuila, a mine owned by AHMSA. From that point the iron ore is transported to AHMSA through a 180-mile pipe called Ferroduct that crosses the Coahuila desert. AHMSA manufactures high value-added steel products. AHMSA is a national leader in the production and commercialization of flat steel products including hot rolled coil, wide plate, cold rolled coil, tinplate and tin-free steel, railroad tanks and bridge constructions, structural shapes. It also produces non flat steel products like heavy shapes. AHMSA has annual capacity of 5.6 million metric tons of liquid steel, with a workforce of 22,250 people, including its subsidiary companies.
Mexican steelmaker Altos Hornos de Mexico will have new owners with the signing of a contract for the sale of a controlling share package to a group of foreign investors, according to Periodco La Voz, ending Latin American King of Steel Mr. Alonso Ancira Elizondo’s 32 years long inning, ushering in a new era.Throughout the years AHMSA faced a series of complications, however nothing compared to the last 4 years, in which it not only faced an economic crisis but also a political persecution that plunged the company into the worst crisis in history and that placed it on the brink of bankruptcy. Finally, and after a series of negotiations in which the best alternative for the company was sought, it is announced that Mr. Alonso Ancira completed the sale of the company, thus giving way to arrival of new investors, who will represent the fourth stage of the company.1942 - Altos Hornos was created, promoted by a group of businessmen who supported the project of the American Harold Robert Pape.1971 - Federal Government assumes the direct direction of the company.1991 - Grupo Acerero del Norte acquires the company.2023 - New investor assumes the company.Mr. Alonso Ancira took over the management of Altos Hornos de México in 1991, after the Federal Government decided to privatize the steel company in the face of the crisis it faced due to administrative failures, for which Grupo Acerero del Norte assumed control. In 2019 Mr. Alonso Ancira announced a significant investment that will increase the company's production levels, as well as the lifting of suspension of payments that had been in place since 1999. The announcement of the investment of MXN 300M for AHMSA occurred on 20 May 2019. Just 8 days later, on 28 May 28, Mr. Alonso Ancira was arrested in Palma de Mallorca, Spain by the Interpol in connection with the 2014 sale of a fertilizer plant to PEMEX, the Mexican-state oil company, after being accused by the Government of President Andrés Manuel López Obrador for selling the agro nitrogen plant at an overpriced price. The bank accounts of Altos Hornos and Mr. Emilio Lozoya Austin, the former CEO of PEMEX, were frozen 24 hours earlier. After Mr. Alonso Ancira's arrest came the debacle of the company, after the freezing of accounts that affected its production. Mr. Alonso Ancira carried out a large part of the process on probation in Spain, but in November 2020 he was arrested again and in February 2021 he was extradited to Mexico to carry out his process. In March 2021, Mr. Alonso Ancira established an agreement with PEMEX to repair the damage, with the payment of 216 million dollars, in installments, for which he was released and moved to San Antonio in Texas, where he remains to this day.Altos Hornos de Mexico is the largest integrated steel plant in Mexico. It has corporate offices in Monclova in Coahuila state of Mexico. Two steel plants operate in an area of nearly 3,000 acres. AHMSA extracts coal and iron ore. The company has its own coal mines in Palau. The main source of iron ore is located in Hercules in Coahuila, a mine owned by AHMSA. From that point the iron ore is transported to AHMSA through a 180-mile pipe called Ferroduct that crosses the Coahuila desert. AHMSA manufactures high value-added steel products. AHMSA is a national leader in the production and commercialization of flat steel products including hot rolled coil, wide plate, cold rolled coil, tinplate and tin-free steel, railroad tanks and bridge constructions, structural shapes. It also produces non flat steel products like heavy shapes. AHMSA has annual capacity of 5.6 million metric tons of liquid steel, with a workforce of 22,250 people, including its subsidiary companies.
