The Mexican steel unit of the Italian-Argentine giant Techint, Ternium, began a due diligence on the facilities of the giant steel company Altos Hornos de México (AHMSA) paralyzed by insolvency since last year.
The due diligence began on Tuesday and will conclude today Thursday (October 24), published the local newspaper La Prensa de Coahuila.
Information sources consulted by SteelOrbis and who are aware of the process to try to reactivate steel production at the integrated steel company with a capacity of 5.5 million metric tons (mt) of crude steel per year, commented that Ternium joins the due diligences that have been carried out by ArcelorMittal, a Brazilian steel company, a Canadian one and the Mexican Villacero.
The sources of information consulted say that AHMSA could soon be declared bankrupt. Regarding the interest of Ternium and ArcelorMittal, there are two divided opinions. Due to the issue of antitrust authority, said one expert, these two companies would not have the approval of the competition regulator.
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