Former AHMSA CEO Under Investigation Again

Attorney General Alejandro Gertz Manero has announced that legal proceedings against businessman Alonso Ancira, former CEO, Altos Hornos de México (AHMSA), will resume after he failed to fulfill payments agreed upon for the sale of Agronitrogenados’ scrap plant to PEMEX.

“The agreement signed with PEMEX before the judge is no longer valid; therefore, we are restarting the process. We will take all necessary actions to ensure he takes responsibility and, through international cooperation, we will proceed against him wherever he is,” the Attorney General stated.

Ancira had been released in 2021 after signing an agreement requiring him to return $216 million to the public treasury. Gertz Manero explained that Ancira made the initial payments but subsequently defaulted. He also noted that Ancira holds US citizenship and currently resides there.

“We will first take all steps to ensure he assumes responsibility, and through international political mechanisms, we will pursue him wherever he is. We are coordinating with PEMEX to secure all necessary guarantees; this cannot be left unresolved,” said the Attorney General.

Ancira is also implicated in the 2013 acquisition of Agronitrogenados by PEMEX under Emilio Lozoya’s direction. Despite the plant being non-operational for 14 years and nearly worthless, PEMEX purchased it for US$216 million. Although the Attorney General’s office requested Ancira’s re-arrest in January 2024 for breaching the agreement, a judge denied it after PEMEX requested an extension until November. Ancira defaulted again, and his re-arrest was not enforced.

What Happened to AHMSA?

In 2019, Ancira, 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.