Elmet Technologies receives $4.3M defense contract for molybdenum parts

Elmet Technologies, a subsidiary of The Elmet Group Co. (NASDAQ: ELMT), received a $4.3 million contract from the United States Department of Defense to develop molybdenum components for defense programs.

The contract will fund manufacturing capacity improvements including precision machining, production automation, additive manufacturing, material feeding, post-processing equipment, and inspection systems at the Lewiston, Maine-based company.

The funding aims to support domestic manufacturing of refractory metal components, specifically molybdenum-based products used in defense interceptor programs. The contract is designed to meet projected long-term demand for these specialized components.

"This award directly supports our mission of securing the critical materials and components supply chain in the U.S.," said Derek Fox, President of Elmet Technologies. "We expect that it will enable us to expand capacity and deploy advanced manufacturing technologies in support of our nation's critical defense initiatives."

The contract will fund investments across Elmet Technologies' manufacturing operations to accelerate production throughput and improve component performance in interceptor systems and defense platforms.

Elmet Technologies operates as the Critical Materials Components division of The Elmet Group and describes itself as the sole U.S.-owned vertically integrated tungsten and molybdenum manufacturer. The company has been in operation since 1929 and employs nearly 400 people across facilities in Maine, Ohio, and Michigan totaling over 500,000 square feet.

The company serves aerospace, defense, government, industrial, medical, semiconductor, electronics, and energy sectors and maintains ISO9001, AS9100, and ITAR registrations.

You May Also Be Interested In

• Teva plans senior notes offering to refinance existing debt
• Ardent Health revises 2025 non-GAAP figures after SEC staff talks
• Novartis pelacarsen trial fails; Royalty Pharma expects modest return