OREANDA-NEWS. May 12, 2008. Novolipetsk Steel, NLMK (LSE: NLMK), the leading Russian steel producer, announces today that its 100% owned subsidiary, NLMK International BV (Netherlands), has completed the acquisition of 100% in Novexco (Cyprus) Limited and 100% of Novex Trading (Swiss) S.A., both trading companies, from the United Steel Group (USG), for EUR 77.1 million.

This transaction is in line with the Company’s strategy to establish an international trading department within the Group and is designed to better control the Company’s export sales and further enhance its presence in core export markets.