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Elmet Group Wins $4.3 Million Department of Defense Contract

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Elmet Group (ELMT) said Tuesday its Elmet Technologies unit won a $4.3 million contract from the US Department of Defense.

The funding will support domestic manufacturing expansions for molybdenum-based products and refractory metal components used in critical defense programs, the company said.

The contract award is expected to upgrade precision machining and production automation to satisfy long-term demand for modern interceptor program components, Elmet Group said.

Shares of the company were up 1% in Tuesday trading.

Price: $17.82, Change: $+0.46, Percent Change: +2.65%

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