Metal Industry News

Metallus Signs Agreement with Army

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Metallus, formerly known as TimkenSteel, has entered an agreement for up to $99 million in funding from the United States Army. The funding will support a project aimed at bolstering the Army's mission of ramping up artillery shell production in the coming years.

Specifically, the project will enable the development of additional capacity to help fulfill increased global demand for artillery shells. The new capability is expected to increase throughput of high-quality bar-based products used in artillery applications and support approximately $60 million of incremental base sales annually. The company is targeting late 2025 for this new capability to be operational with funding to be provided throughout the procurement and installation process.

"Metallus is honored to expand our commitment to the defense sector, reliably providing high-quality specialty metals for critical applications. With this funding, we intend to further optimize our assets to meet the Department of Defense's heightened demand while reducing our carbon footprint," said Mike Williams, president and CEO.