AHMSA to hold $1.3 billion bankruptcy auction on September 25

Altos Hornos de México (AHMSA) is scheduled to enter a decisive stage in its bankruptcy process on September 25 with a second auction to find a buyer for the steelworks and iron mines. The industrial complex is valued at approximately $1.326 billion, and the procedure requires offers to reach at least 80 percent of that value.

Six potential buyers have been prequalified by the specialized commercial bankruptcy court, including Argentem Creek Partners, Compañía Yepal, Construcciones e Ingenierías Electromecánicas, Grupo Metals-Mex, Trust Empresarial Mexicano, and Octavio Pous Escalante. To participate definitively, these entities must meet specific requirements, including the delivery of a seriousness guarantee of nearly $56 million. The auction also allows for participation from AHMSA creditors such as Pemex, Unifin Financiera, Cargill, Caterpillar, and Banca Afirme.

In Monclova, the local community and families of former workers are expressing hope and anxiety regarding the auction. After three years of closure, workers and their families are praying for a successful sale to facilitate job recovery and the settlement of long-standing labor debts. While there is hope, uncertainty remains regarding whether all prequalified bidders will ultimately submit economic proposals after fulfilling the necessary financial guarantees.