MONCLOVA, Mexico, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Altos Hornos de México, S.A.B. de C.V., the largest integrated steel producer in Mexico (“AHMSA” or the “Company”), informs that related to the information announced today regarding supposed sale of the Company, AHMSA wishes to communicate that it is currently working on several capitalization options and/or associations with a variety of industrial and financial groups. At this time, however, no decision has been made.
Altos Hornos de México S.A.B. de C.V., the largest integrated steel producer in Mexico (based on tons of liquid steel produced), has two steel plants located in Monclova, Coahuila, and operates its own iron ore and metallurgical coal mines. Its current nominal production capacity is more than 5.5 million tons of liquid steel per year, which is then transformed into a variety of finished products. Additionally, AHMSA operates steam coal mines in Mexico. It employs over 19,000 workers in steel plants, mines and services.
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause AHMSA’s actual results to differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include but are not limited to regional, national or global economic, business, market and regulatory conditions and the following: (i) AHMSA’s ability to service its debt; (ii) competition and loss of market shares; (iii) changes in AHMSA’s relationships with customers and suppliers; (iv) increases in raw material costs or interruptions in supply; (v) declines in, and volatility affecting, global prices of steel; (vi) the existence or termination of free trade agreements, such as the North American Free Trade Agreement and foreign import duties and tariffs; (vii) foreign currency exchange fluctuations; (viii) the inherently dangerous nature of mining; (ix) work stoppages, strikes or other labor disputes; (x) changes in Mexican economic policy, as well as currency instability; (xi) inaccuracies in AHMSA’s estimates of economically recoverable coal reserves; and (xii) AHMSA’s dependence on certain raw materials.
|In Mexico |
Luis Guillermo Valdés Portales
Director of Financial Planning
Altos Hornos de México, S.A.B. de C.V.
Tel: 52 (866) 649-3366 | firstname.lastname@example.org
|In New York |
Maria Barona / Rafael Borja
i-advize Corporate Communications, Inc.
Tel: (212) 406-3691/3693
email@example.com / firstname.lastname@example.org