Mentioned:
The U.S. National Defense Stockpile wants more domestic supply of molybdenum and tungsten alloys. And now, they’ve just given another contract to a publicly traded company to get it.
What’s happening:
- The Elmet Group (NASDAQ: ELMT) has won a new contract from the Defense Logistics Agency worth roughly $36M USD to supply molybdenum and tungsten alloys and wires to the U.S. National Defense Stockpile
Why it matters:
- This is the second major contract The Elmet Group has been awarded from the Defense Logistics Agency to supply the U.S. National Defense Stockpile
Going deeper:
- The Elmet Group has publicly stated that the molybdenum and tungsten allows they will supply to the U.S. National Defense Stockpile will primarily be used for jet engine components and other aerospace applications
- The Elmet Group will supply the U.S. National Defense Stockpile with precision refractory metal wire, high strength TZM billets, high performance refractory alloy bars and arc-cast refractory alloy ingots
The intrigue:
- The Elmet Group just recently made major waves on Wall Street when they landed a a $450M USD strategic investment from the United States Department of War
