Trasteel signs lease agreement for Liberty Magona production in Piombino

Swiss steel company Trasteel has signed a lease agreement for Liberty Magona's commercial facilities in Piombino, Italy, following approval of the company's recovery plan by the Italian Ministry of Entrepreneurship and Manufacturing (MIMIT), according to media reports.

According to MIMIT, the agreement marks the beginning of the implementation of the restoration plan and is designed to ensure the continuity of the Piombino plant.

Italian Minister of Entrepreneurship and "Made in Italy" Adolfo Urso called the agreement an important step for Liberty Magona, the Piombino industrial site and the Italian steel sector.

Under the agreement, Trasteel will lease Liberty Magona's commercial operations while the restoration plan is implemented. The ministry stated that the agreement is aimed at ensuring the continuity of production and maintaining employment at the Piombino plant.

Trade unions welcome the agreement

Italian trade unions welcomed the signing of the lease agreement, calling it the beginning of a new stage for the Piombino plant.

The unions stressed the importance of completing the transfer process while protecting employment levels, workers' rights, and production. continuity.