Trasteel & the Greensill receiver have reached a verbal agreement for the lease & acquisition of the Magona steel re-rolling facility in Piombino, Italy. The Swiss firm has offered €36 million ($41.9M) over eight months as a lease payment, deductible from the final purchase price. Trasteel plans to begin re-rolling operations before the formal lease starts, purchasing 4,800 metric tons of hot-rolled coil to support workers currently on temporary layoff. A key ministerial meeting is set for 25 June 2026 in Rome.