Sheinbaum Advocates for Prioritizing Workers in AHMSA Reorganization

The auction of Altos Hornos de México (AHMSA) and its subsidiary Minera del Norte (Minosa) was declared void by the Second District Court for Commercial Bankruptcy after the sole qualified bidder failed to meet legal and procedural requirements, including unpaid guarantees, leading to a postponement of the sale, according to La Jornada and Lopez Doriga Digital. The court has granted a 20-day extension to attempt reinitiating the auction process, temporarily halting the transfer of the steel company's assets in Monclova, Coahuila, as reported by El Financiero.

In response to the stalled auction, Mexico City’s President Claudia Sheinbaum has called for prioritizing the rights and payments of AHMSA’s workers over those of creditors in ongoing negotiations. Sheinbaum emphasized the government’s intention to reactivate the company to preserve jobs and prevent the dismantling of the steel industry during a public event, according to Aristegui Noticias and El Financiero.

Sheinbaum underscored the need for AHMSA to resume operations as soon as possible, stressing both economic and social justice reasons for supporting workers affected by the crisis. Her remarks in Monclova were met by local supporters who echoed calls for justice and the firm’s revival, as reported by La Jornada and Lopez Doriga Digital.

The legal challenges surrounding AHMSA highlight continuing difficulties in resolving the bankruptcy and revitalizing Mexico’s steel sector amid creditor disputes and auction failures. Observers will be closely watching the court’s timeframe for resuming the auction and whether government interventions will secure a swift reactivation of the company and improved conditions for its workforce.