Mexican steelmaker Altos Hornos de México (Ahmsa) announced that it will enter bankruptcy after failing to reach an agreement with creditors, although it continues to work to attract investors to capitalize the company.
A second 90-day extension period to negotiate with creditors to end the bankruptcy proceedings came to an end on August 4 without sufficient agreements being hammered out on the sums owed by the firm.
The company, facing debts estimated at over US$1 billion that forced it into insolvency proceedings, required all creditors to sign the agreement before that date, which would enable its capitalization and subsequent resumption of commercial activities, which have been gradually suspended since late 2022.
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