Altos Hornos de Mexico, S.A. de C.V. Enters Into Loan Agreement with BANCOMEXT for US $75 Million.MONCLOVA, Coahuila, Mexico--(BUSINESS WIRE)--April 15, 1999-- Altos Hornos de Mexico, S.A. de C.V. ("AHMSA AHMSA Altos Hornos de Mexico SA (Mexican steel company) " or the "Company") (NYSE NYSE See: New York Stock Exchange :IAM IAM - Interactive Algebraic Manipulation. Interactive symbolic mathematics for PDP-10. ["IAM, A System for Interactive Algebraic Manipulation", C. Christensen et al, Proc Second Symp Symb Alg Manip, ACM Mar 1971]. ), announced that it has entered into a loan agreement with Banco de Comercio Exterior (BANCOMEXT BANCOMEXT Banco Nacional de Comercio Exterior, SNC (Mexico) ) for the amount of US $75 million. The operation is guaranteed by present and future sales receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed for a period of three and a half years and is subject to U.S. dollar-linked interest rates at current market value. Located in Monclova, in the state of Coahuila, AHMSA is the largest integrated steel producer in Mexico and produces a wide spectrum of products. AHMSA owns and operates iron and coal mines that produce raw materials used in the Company's steelmaking process, making it one of the lowest cost producers worldwide. It produces approximately 3.8 million tonnes of liquid steel annually. Through its subsidiary MICARE, the Company is also engaged in the production and sale of steam coal for power generation. Visit AHMSA's website at www.ahmsa.com. |
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