Altos Hornos de Mexico to invest US$1 billion

Category: News
Published: 2016-09-07

Steel company Altos Hornos de Mexico (AHMSA) will invest US$1 billion over the next two years. According to Alonso Ancira, President of the Administrative Council of the Company, the money shall be used to build processing plants in Coahuila and Durango.

Mr. Ancira indicated that AHMSA is looking to gain access into the specialty steel market, such as automotive steel. Moreover the steel demand from the automotive sector, is not satisfied by the national industry. The executive informed that the Company is looking to expand its tin plate operations, as Mexico is currently importing 500,000 tons, which is why AHMSA is looking to increase its production, going from 150,000 to 400,000 tons. The operation of this plant will require up to 700 work positions.

Source: Expansion