Issue link: https://nebusinessmedia.uberflip.com/i/1547113
W W W. M A I N E B I Z . B I Z 15 O C T O B E R 1 9 , 2 0 2 6 F O C U S M A N U FA C T U R I N G / I N T E R N AT I O N A L T R A D E material for the defense industrial base," as per the Pentagon's official wording. e arrangement gives the govern- ment a 19.9% stake in Elmet — just below the 20% threshold for a control- ling interest — plus a board seat and nonvoting board observer. Elmet plans to use the funds for fac- tory upgrades and expansions. It's also counting on Washington's involvement to boost its standing with large com- mercial customers from Raytheon to Lockheed Martin. "It gives us gravitas, when we talk to some of these larger companies, to say that the Department of War owns 20% of us," says Peter V. Anania, Elmet's CEO. "It opens more doors." e stock has fared well amid a bumpy phase for the market, climb- ing 32% in the three weeks following the deal announcement while the Standard & Poor's 500 index mus- tered only a 1.5% increase. C O N T I N U E D O N F O L L OW I N G PA G E » Rooted in Maine. Committed to Community. Rooted in Maine. Committed to Community. 2 Monument Square, Portland, ME | 207.773.7100 | dunhamgroup.com At The Dunham Group, relationships come first. We listen and take the time to understand your business—so we guide you with insight, not assumptions. We're proud to work with clients like the South Portland Food Cupboard, helping them find the right place to serve their community and make a lasting impact. let us help you find your place woodhullmaine.com The government is not running Elmet, but it now has meaningful governance, information and economic rights. That introduces a stakeholder whose objectives aren't exclusively financial. — Meghan Welch Brown Gibbons Lang & Co. Meghan Welch P H O T O / C O U R T E S Y O F B ROW N G I B BO N S L A N G & C O.