Metallus (NYSE:MTUS) said on Tuesday it had entered an agreement for up to $99M in funding from the United States Army. According to MTUS, the funding will support a project aimed at bolstering the Army’s mission of ramping up artillery shell production in the coming years. The project will enable the development of additional capacity to help fulfill increased global demand for artillery shells, MTUS added. MTUS said it is targeting late 2025 for the new capability to be operational, with funding to be provided throughout the procurement and installation process. Press Release