In a statement, Nucor said its acquisition of Missouri-based St. Louis Cold Drawn Inc. will increase its total cold-finished bar and wire capabilities to more than 1.1 million tons annually and will help grow sales to automotive customers.

"This acquisition fits with our planned growth strategy by expanding Nucor's position as the market leader in cold-finished bar products. It also creates synergies with our bar mills by providing an additional channel to market for the special bar quality products we produce," Nucor chairman and chief executive John Ferriola said in a statement. 

St. Louis Cold Drawn makes cold-drawn rounds, hexagons, squares and special sections primarily for the automotive and industrial markets in the U.S. and Mexico. The company employs approximately 125 people and has two plants in St. Louis and Monterrey, Mexico.