The Defense Logistics Agency has awarded Elmet Technologies of Lewiston, Maine, a contract valued at approximately $36 million to supply molybdenum and tungsten alloys and precision wire to the National Defense Stockpile. The award is separate from the $2 billion DLA tungsten contract that parent company The Elmet Group announced on September 14 alongside a $450 million committed investment from the Department of War.
What's happening
- Elmet Technologies, a wholly owned subsidiary of The Elmet Group (NASDAQ: ELMT), will supply DLA Strategic Materials with titanium-zirconium-molybdenum (TZM) alloy billets, bar stock and ingots, plus specialized molybdenum and tungsten wire.
- The company says the materials are used to produce jet engine components and other demanding aerospace applications.
Why it matters
- Molybdenum and tungsten are refractory metals that withstand temperatures that would melt most other metals, and Elmet says global supply has historically been concentrated outside the United States.
- TZM is a molybdenum alloy strengthened with small additions of titanium and zirconium that keeps its strength at higher temperatures than pure molybdenum, which suits it to jet engines and other high-heat defense uses.
- The award moves Elmet's stockpile business beyond the raw tungsten feedstock covered by the $2 billion contract into finished mill products, which the company presents as the downstream payoff of its ore-to-component strategy.
- For background on the September 14 deal, see Elmet Group secures $450M Department of War investment and $2B DLA contract: /article/elmet-group-secures-450m-department-of-war-investment-and-2b-dla-contract.
Financial impact
- The award is valued at approximately $36 million, small next to the $2 billion ceiling and $150 million guaranteed funded commitment of the September 14 DLA contract.
- Elmet did not disclose a delivery schedule, revenue timing or expected margins for the contract.
- ELMT shares were up 9% at $20.92 in midday trading on September 30, according to MarketWatch.
The fine print
Source: GlobeNewswire · Sep 30, 2026 · Drafted with Claude, reviewed by Industrial Base Alpha.
- Elmet did not disclose the contract number, type or period of performance.
- The separate $2 billion IDIQ covers tungsten concentrates and sodium tungstate, and Elmet has said it will not begin those stockpile deliveries until new incremental supply comes online.
Sep 30, 2026 · By Industrial Base Alpha.