Mexican steelmaker Altos Hornos de Mexico (AHMSA) is seeking a US$ 350 million financing to buy new equipment in order to supply the automotive industry, officials told local media in recent days.

AHMSA's CEO Alonso Ancira presented Austria-based OeKB Bank a proposal to buy the equipment and then start producing specialty steel for car assembly plants established in the NAFTA region.

The company said it could begin production within an 18-month timeframe and reactivate up to 4,000 jobs out of 10,000 positions the local steel industry lost las year, according to media reports.

MexicoNow

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