Elmet Shares Jump After Unit Gets $4.3 Million DoD Contract

Dow Jones

Jun 13

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

(END) Dow Jones Newswires

June 12, 2026 12:06 ET (16:06 GMT)

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