Elmet Technologies, a subsidiary of The Elmet Group Co. (NASDAQ: ELMT), secured a $4.3 million contract from the U.S. Department of Defense.
The strategic funding supports domestic manufacturing of molybdenum-based components for defense interceptor systems and other critical platforms.
Elmet operates as the sole U.S.-owned and vertically integrated manufacturer of tungsten and molybdenum.
The company will use the capital to upgrade precision machining, automation, and inspection systems.
These investments aim to increase manufacturing readiness and throughput to strengthen the U.S. defense industrial base.