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Mexico’s Ahmsa posts $40.3M net loss in 3d qtr.

Keywords: Tags  Altos Hornos de Mexico, Ahmsa, steel, steelmaker, quarterly results, quarterly loss, steel shipments, Fenix project crude steel production

MEXICO CITY — Altos Hornos de Mexico SA de CV (Ahmsa), Mexico’s biggest integrated steelmaker, saw its net loss widen by 51.2 percent to 520 million pesos ($40.3 million) in the third quarter from a net loss of 344 million pesos in the same period last year on sales that fell 2.1 percent to 9.47 billion pesos ($735.2 million), the company said in a filing with Mexico’s stock exchange Oct. 25.

Ahmsa shipped 886,524 tonnes of steel products between July and September this year. It didn’t disclose corresponding sales figures for the third quarter of 2012.

The steelmaker plans to "put the remaining equipment of the Fénix project into operation by the second quarter of 2014," it said.

The Fénix expansion project started operations in July and comprises a 1.46-million-tonne-per-year blast furnace, a 1.2-million-tonne-per-year electric-arc furnace, a 1.2-million-tonne-per-year slab caster and a 1-million-tonne-per-year plate mill, which together cost around $1.5 billion.

Ahmsa’s crude steel production capacity will increase to 4.75 million tonnes per year from 3.5 million tonnes once the expansion is complete.

A version of this article was first published in AMM sister publication Steel First.

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