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Germany defense contractor Rheinmetall on Tuesday said it has agreed to acquire Michigan-based Loc Performance Products, a supplier of components and technologies used on military vehicles, a deal that will expand the company’s presence, employee base, and production capacity in the U.S. amid competition for two Army programs estimated to potentially be worth a combined $60 billion. Rheinmetall said the deal values Loc Performance at an enterprise value of $950 million. The transaction is subject to regulatory approval. Rheinmetall, which…
