Rheinmetall to acquire Loc Performance for $950m.

Rheinmetall, a German automotive and arms manufacturer, agreed to acquire Loc Performance, a vehicle specialist for both military and civilian customers, for $950m. "We are making this investment because we have a clear strategy for growth and the United States will be an important core market for us in the coming years. The acquisition of Loc Performance proves that we are consistently focussing on success in the USA and want to expand our share of the large market volume. Everything speaks in favour of this acquisition: Loc Performance is already pursuing a sustainable business model there with robust organic growth, has a highly qualified workforce and offers us significant capacity reserves for the orders we are targeting in the USA," Armin Papperger, Rheinmetall CEO.