July 05, 2008

NLMK completes the acquisition of international steel trading companies

Novolipetsk Steel announced that its 100% owned subsidiary, NLMK International BV has completed the acquisition of 100% in Novexco Limited and 100% of Novex Trading SA, both trading companies, from the United Steel Group for EUR 77.1 million.

NLMK said that “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.”