Rheinmetall AG officially closed on its $950 million purchase of Loc Performance Products, LLC on Nov. 29, a move aimed at strengthening the Düsseldorf-based vendor's hand in the United States' ground vehicles market, according to a Monday announcement . The takeover, first reported by Breaking Defense , was initially announced in August. American Rheinmetall Vehicles, a subsidiary of Rheinmetall based in the United States, will manage the acquired company. “The acquisition of Loc Performance Products proves that we are...
