Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) told local media this week it is seeking a $350 million financing from OeKB Bank to buy new equipment, so it can boost activities within the automotive industry.
AHMSA’s CEO Alonso Ancira reportedly presented Austria-based OeKB Bank a proposal to buy new equipment and then start producing specialty steel for the automotive industry.
The company said it could produce specialty steel within an 18-month timeframe and could reactivate between 3,000 and 4,000 jobs out of a total 10,000 positions the local steel industry lost last year, according to media reports.