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| Type | Private |
|---|---|
| Founded | 1942 |
| Headquarters | Monclova, Coahuila |
| Key people | Alonso Ancira, Chairman Luis Zamudio, CEO Jorge Ancira Elizondo, Finance Director |
| Industry | Metals |
| 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.
History
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.
Mr. Ancira fled the country in 1999 to evade tax fraud.
In October 2002, Representatives of the banks, led by Bank of America, Banamex and Bancomer, confirmed that they wished to remove the employee Alonso Ancira out of administration of the company.
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.
In the early 2000s, AHMSA filed for bankruptcy amid declining steel prices. In recent years, as the price of steel recovered, AHMSA has returned to profitability.
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.
ArcelorMittal has a 34.8% stake in AHMSA.
See also
External links
- (English) NY Times Fugitive Executive Arrested In Mexican Tax Fraud Case
- (English) Internet Securities Creditors want Alonso Ancira and Xavier Autrey out of AHMSA.
- Profile on Yahoo! Finance
- Profile at Google Finance
- (Spanish) Altos Hornos de Mexico Corporate Website
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