DEEP IN DEBT.With Altos Hornos de Mexico (Ahmsa) drowning drowning /drown·ing/ (droun´ing) suffocation and death resulting from filling of the lungs with water or other substance. drowning, n asphyxiation because of submersion in a liquid. in debt, rumor has it that several other Mexican companies This is a List of Mexican companies:
v. To restore consciousness, vigor, or life to. it. Ahmsa recently hired JP Morgan to find a buyer. Rumored as possible lifesavers: Hylsamex, Mexico's third-largest steel producer and a unit of industrial conglomerate Alfa; Imexsa, the country's second-largest steel producer and the Mexican subsidiary of India's Ispat International Ispat International N.V. is a steel producing company with operations in Mexico, Trinidad, Canada, Germany. The company is specialised in the integrated mini-mill process and has a wide range of flat & long steel products, including slabs & wire rods. ; and the local Mexican concerns Grupo Imsa and Grupo Villacero. A spokesman for JP Morgan says bids were received in late May but no final decision had been made at press time. Ahmsa defaulted on a mountain of debt totaling some $1.8 billion--more than its annual sales and about half its declared assets. It is one of Mexico's largest steelmakers. |
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