Mexico's AHMSA to buy up to $1.1bln of iron from Voestalpine
MEXICO CITY Aug 19 (Reuters) - Altos Hornos de Mexico (AHMSA), one of Mexico's largest steelmakers, said on Tuesday it has signed a deal to buy up to $1.1 billion worth of hot briquetted iron (HBI) from Voestalpine's Texas subsidiary.
AHMSA will buy between 400,000 and 650,000 tonnes of HBI a year from Voestalpine Texas LLC, with the first shipment due at the beginning of 2016, the company said in a statement to Mexico's stock exchange.
The deal has an estimated value of between $900 million and $1.1 billion and will last a minimum of five years from the date of the first delivery, the company said. (Reporting by Christine Murray and Noe Torres)