The European Competition Authority greenlit Trasteel's acquisition of the Italian Magona plant in Piombino, previously a Liberty Steel asset.

Trasteel initially secured a lease agreement in late June to maintain industrial continuity, aiming for full capacity and workforce utilization. The Italian Ministry of Enterprises and Made in Italy (MIMIT) anticipated the transition of the facility's more than 500 employees to the new entity starting on October 1.

Specializing in steel production and trade, Trasteel operates within a sector where the Magona facility produces flat galvanized and pre-painted steel goods, holding an annual capacity between 630,000 and 700,000 tons.