Metallus Awarded Up to $995 Million Defense Contract for High-Fragmentation Steel
Metallus (MTUS) has been awarded a five-year, up-to-$995 million U.S. defense contract for the production of High Fragmentation 1 steel. The contract is set to run through September 24, 2031 and will be funded using fiscal years 2025–2029 transaction funds. DLA Contracting Services Office has been designated as the contracting activity. This significant award highlights growing demand for Metallus' specialized steel products in defense applications. The company is also working toward a $250 million annual revenue run rate from aerospace and defense by year-end 2026, with adjusted EBITDA expected to reach $29 million during the same period. The contract underscores continued interest in Metallus' capabilities but does not guarantee full funding or execution of all potential value. The company is also undergoing leadership changes, including a new CEO set to take office in 2027.
Tickers: $MTUS
Topics: contracts defense steel production