9,367.77 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.56 USD USD USD
36.19 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
41.35 TRY Interest Interest
74.24 USD Fossil Oil Fossil Oil
30.90 USD Silver Silver
4.09 USD Copper Copper
100.80 USD Iron Ore Iron Ore
365.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,982.57 TRY Gold (gr) Gold (gr)

Democratic Union approves sale of AHMSA material

Democratic Union approves sale of AHMSA material to settle debts.

Democratic Union approves sale of AHMSA material

In a significant development, the Democratic Union has greenlit the sale of scrap and non-essential material from Altos Hornos de México (AHMSA). This decision, backed by the federal government and investors, aims to address pressing financial obligations within the company.

Under the proposal, proceeds from the material sale will be allocated towards settling the electricity bill and clearing three weeks' worth of overdue wages for AHMSA workers. The move is anticipated to pave the way for the company's reactivation by May.

During a recent union meeting chaired by Ismael Leija Escalante, general secretary of section 147, it was revealed that discussions with federal government representatives and Conciliator Víctor Manuel Aguilera had resulted in a consensus. They emphasized the potential for workers to receive payment for three weeks' salary within the next 15 days, with subsequent payments expected every 15 days thereafter.

Notably, the federal government has pledged its support for the agreement forged between the union, investors, and federal agencies. As a safeguard, the government has indicated its readiness to withdraw from the agreement should the employer fail to fulfil its commitments.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

South Korea's crude steel production decreased by 18.3% in October

Friday, November 22, 2024

SSAB and Saint-Gobain's slag reprocessing plant in Raahe progresses

Friday, November 22, 2024

US Steel Producer partners with Primetals Technologies for EAF Ultimate

Friday, November 22, 2024

Imported scrap prices on the decline, demand stagnant!

Friday, November 22, 2024

Roadmap for India’s steel sector: Demand, imports and future plans

Friday, November 22, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now