Rheinmetall Expands in US With $950 Million Defense Deal (2)

Rheinmetall AG is set to buy a US military vehicle specialist for $950 million as the German company seeks to expand its position in the world’s largest defense market.

The acquisition of Loc Performance Products LLC, which makes track systems for tanks and agricultural vehicles as well as hulls for combat platforms, will boost Rheinmetall’s production capacity in the US, the company said late Tuesday. The US market for army vehicle programs has a total potential of over $60 billion of orders, it said.

The American market is a strategic priority for Rheinmetall. The maker of the Leopard tanks ...