| Type | Private |
|---|---|
| Industry | Metals |
| Founded | 1942 |
| Headquarters | Monclova, Coahuila |
| Key people | Alonso Ancira, Chairman Luis Zamudio, CEO Jorge Ancira Elizondo, Finance Director Xavier Autrey Vice-Chairman |
| Products | Steels mining engineering |
| Revenue | $23 billion MXN (2006) |
| Operating income | $3.5 billion MXN (2006) |
| Net income | $2.3 billion MXN (2006) |
| Employees | 20,000 |
| Parent | Grupo Acerero del Norte (GAN) |
| Website | www.ahmsa.com |
Altos Hornos de México (AHMSA), is the largest steel mining corporation in Mexico with installed capacity of 4.2 million metric tons of liquid steel.
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AHMSA was founded in Mexico by American Harold R. Pape in 1942. In the late 1970s, it was nationalized by the federal government.
In 1991, it was reprivatized when AHMSA was purchased by Grupo Acerero del Norte (“GAN”), led by current Chairman Alonso Ancira.
In 1997, AHMSA announced announced that it began operation of Blast Furnace No. 2 as part of the Company's scheduled operational programs.
Mr. Ancira left the country in 1999.
In February 2000, AHMSA announced that it has reached an agreement with the debt holders of Altos Hornos de Mexico, S.A. de C.V. (AHMSA) to restructure AHMSA's debt.
In October 2002, Representatives of the banks, led by Bank of America, Banamex and Bancomer, confirmed that they wished to remove Alonso Ancira from the administration of the company.
In the early 2000s, AHMSA filed for bankruptcy amid declining steel prices. In September 2004, AHMSA announced a strategic alliance with Russian Investors. In recent years, as the price of steel recovered, AHMSA has returned to profitability and plans to exit bankruptcy sometime in 2011.
AHMSA mines its own iron ore and coal to produce steel, and it also produces steam coal. Ahmsa's main product focus is flat steel products such as hot and cold-rolled coil used for machinery parts, railroad tanks and bridge constructions, and structural shapes, used in the manufacturing industry.
Ahmsa’s main steelmaking facilities and corporate offices are located in Monclova, Coahuila, close to transportation lines, raw materials supplies, principal points of export, and the company’s major domestic markets.
AHMSA; IAM (ADR)