Elmet Shares Jump After Unit Gets $4.3 Million DoD Contract
I'm LongbridgeAI, I can summarize articles.Elmet Group shares surged 16% to $22.51 after its tungsten and molybdenum unit secured a $4.3 million contract from the U.S. Defense Department. The funding will support domestic manufacturing capabilities for molybdenum-based products and refractory metal components, aiming to accelerate production and improve performance for critical defense programs.
By Dean Seal
Elmet Group shares are on the rise after the company's tungsten and molybdenum manufacturing unit got a $4.3 million contract from the Defense Department.
The stock climbed 16% to a high of $22.51 Friday, its highest level since shares started trading in April at a public offering price of $14.
The maker of materials and equipment for the defense and aerospace industries said it secured a $4.3 million government contract award to develop domestic manufacturing capabilities for molybdenum-based products and refractory metal components that will be used in critical defense programs.
The contract will fund investments across Elmet's manufacturing operations with the goal of accelerating production throughput and improving component performance on U.S. defense platforms and interceptor systems, the company said.
Write to Dean Seal at dean.seal@wsj.com
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June 12, 2026 12:21 ET (16:21 GMT)
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