- Rheinmetall acquires loc performance
Arms manufacturer Rheinmetall acquires US vehicle specialist Loc Performance. The agreed purchase price is based on an enterprise value of $950 million, the Germans announced late Tuesday evening. With its approximately 1,000 employees, Loc Performance generates significant and growing revenues. With this acquisition, Rheinmetall is expanding its market position in North America and strengthening its position in the competition for high-volume major orders in the USA.
Investors remained calm. The Rheinmetall share barely reacted to the news on the Tradegate trading platform.
Following the acquisition, Rheinmetall is anticipating increased business opportunities in Germany due to Loc Performance's strong presence in the European market. Furthermore, this move underscores Rheinmetall's strategic aim to become a global leader in the vehicle specialist sector.
