Nucor to Acquire LMP Steel for $28 Million

CHARLOTTE, NC - Steel producer Nucor has agreed to buy northwest Missouri-based LMP Steel and Wire, a producer of cold-finished bar.

North Carolina-based Nucor, which owns two large mills in Mississippi County, says the $20 million deal will expand its current business and provide growth opportunity.  Nucor makes the steel from recycled metal.

The deal is expected to close in the third quarter.

LMP Steel and Wire is based in Maryville, Missouri.  It also operates related businesses that service the construction market in North America.

(The Associated Press contributed to this report.)