ELMT Stock Surges Over 11% – Elmet Technologies Lands $36M DLA Contract For Tungsten, Molybdenum Aerospace Materials

Elmet Technologies won a new DLA award for refractory-metal products as it expands its tungsten and molybdenum operations.

• The contract covers high-performance molybdenum and tungsten alloys and precision wire used in jet engine components and other aerospace applications.
• Elmet will supply DLA Strategic Materials with TZM alloy billets, bar stock, ingots and specialized molybdenum and tungsten wire.
• The award is separate from the DLA's $2 billion tungsten stockpile agreement announced Sept. 14, which includes a $150 million guaranteed funded commitment.

Elmet Technologies, a wholly owned subsidiary of The Elmet Group Co. (ELMT), announced on Wednesday that it was awarded an approximately $36 million contract by the Defense Logistics Agency (DLA) to supply high-performance molybdenum and tungsten alloys and precision wire to the U.S. National Defense Stockpile.

ELMT shares traded over 11% higher at the time of writing on Wednesday.

Under the agreement, Elmet Technologies will supply DLA Strategic Materials with titanium-zirconium-molybdenum (TZM) alloy billets, bar stock and ingots, along with specialized molybdenum and tungsten wire.

Molybdenum and tungsten are refractory metals that can withstand extremely high temperatures, making them useful in jet engine components and other demanding aerospace and defense applications.

TZM is a molybdenum alloy strengthened with titanium and zirconium. The company highlighted that it retains its strength at higher temperatures than pure molybdenum, making it suitable for applications exposed to extreme heat and stress.

How The New Award Differs From The Sept. 14 Deal

The latest DLA award is separate from the Sept. 14 IDIQ agreement, which has a maximum value of $2 billion and a $150 million guaranteed minimum. The earlier agreement covers tungsten ores and concentrates, as well as sodium tungstate. The $2 billion figure represents the contract's maximum value, while purchases beyond the guaranteed amount are at the DLA's discretion.

The Sept. 14 announcement also included a separate $450 million committed investment from the U.S. Department of War. The agreement provides funding to expand and modernize Elmet's tungsten mining, processing and manufacturing capabilities, including the planned upgrade and restart of the Springer ammonium paratungstate plant and associated tungsten mine in Nevada.

CEO Highlights Domestic Manufacturing

Derek Fox, President of the Critical Materials Components Division of The Elmet Group, said the latest award reflects Elmet Technologies' capabilities across molybdenum and tungsten products, from specialty alloy billets and bar to precision ultra-fine wire.

Fox said refractory metals are foundational to aerospace manufacturing and jet engine production. He added that, as a vertically integrated U.S. manufacturer, the company views the award as further demonstrating its role as a domestic source of critical materials and precision-engineered components.

Elmet's Position In Critical Materials

Elmet Technologies has capabilities spanning tungsten and molybdenum processing from powder through finished mill products and components. The company says its products serve aerospace, defense and other critical industries.

Elmet has operated since 1929 and has nearly 400 employees across facilities in Maine, Ohio and Michigan.

Retail sentiment on Stocktwits around the stock remained ‘Bearish’ over the past 24 hours.

ELMT shares have gained more than 51% year-to-date.

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