Altos Hornos de México (Ahmsa) has expressed interest in negotiating with other steelmakers to sell its steel operations.
The company, which is Mexico’s largest steelmaker, ratified the powers of its CEO, Alonso Ancira Elizondo, to negotiate with companies interested in the acquisition, association or operations that improve Ahmsa’s financial position, the company said in a statement to the Mexican Stock Exchange on Feb 10.
According to media reports Techint Group, Posco, and China Baosteel are interested in the acquisition, though it is still unclear if any of them have approached Ahmsa to strike a deal.
Last week, Ahmsa shut down its heavy profile steel plant indefinitely. Before that, in January, the company shut down its blast furnace #5 in plant two to produce steel.
Ahmsa produced 4.52mn mt of crude steel in 2018, but in 2019 production fell 40pc.