European competition authorities clear Trasteel's takeover of Liberty Steel's Magona plant in Piombino

The European Competition Authority has approved Trasteel's acquisition of the Italian Magona plant in Piombino, previously owned by Liberty Steel.

Trasteel initially secured a lease agreement in late June to preserve industrial continuity, with the goal of achieving full capacity and workforce utilization. Italy's Ministry of Enterprises and Made in Italy (MIMIT) expected the facility's more than 500 employees to transfer to the new entity starting October 1.

Trasteel specializes in steel production and trade. The Magona facility produces flat galvanized and pre-painted steel products and has an annual capacity of between 630,000 and 700,000 tons.