German arms major Rheinmetall has signed an agreement to buy US-based Loc Performance Products in a $950 million deal. Rheinmetall noted that the acquisition expands its business with the US military, increases its industrial base in the US and creates further access for its technologies in North America. Loc Performance is a diversified full-service provider for both military and civilian customers. In addition to its headquarters in Plymouth, Michigan, the company has further locations in Lansing and Lapeer, as well as in St Marys, Ohio. The closing of the transaction is subject to regulator…