AHMSA Inventory Finalized, Worker Protections Remain a Priority

The bankruptcy proceedings of AHMSA are progressing steadily, with the inventory of the steelmaker’s assets now completed. Trustee Víctor Aguilera confirms that the asset valuation process is moving forward and is expected to conclude alongside the inventory of the unit, which is still in progress.

Aguilera says that the submission of the inventory is a significant milestone in the liquidation process. “This document offers a comprehensive record of the company's assets, including real estate, machinery, and other property." The goal is to ensure complete transparency and reliability in settling debts with creditors, with particular attention given to prioritizing payments to employees.

In parallel, the special Senate commission overseeing AHMSA’s bankruptcy met with a delegation of workers at the Legislative Palace to address their concerns. The commission revealed plans to summon the trustee to testify. "Our priority is to protect the workers; we are not here to defend shareholders or other creditors," says Luis Fernando Salazar, President of the commission.

What Happened to AHMSA?

In 2019, Alonso Ancira, then-President, AHMSA, was arrested in Spain following an investigation into bribery involving PEMEX officials, who were allegedly overcharged for the sale of a fertilizer plant in northern Mexico. Some of the illicit proceeds were allegedly funneled into Odebrecht accounts. Following Ancira's arrest, CFE canceled several contracts with AHMSA. Subsequently, President López Obrador's administration reached an agreement with Ancira for him to return US$200 million, which was the estimated overcharge from the fertilizer plant sale to PEMEX.

On Nov. 30, 2023, AHMSA halted steel production. In early 2024, Grupo Acerero del Norte entered into an agreement to sell a majority stake in AHMSA to a group of foreign investors for US$200 million. This transaction was part of a broader financial restructuring plan aimed at addressing the company’s bankruptcy and facilitating its recovery.

In January 2025, President Claudia Sheinbaum hinted in a press conference that her administration could soon offer "positive news" to the nearly 20,000 workers still owed wages by the steelmaker. However, no official updates have been provided to date.