Dynamic Materials Receives $8.7 Million in Contracts for Work on Project in Madagascar
Metalworking company Dynamic Materials Corp. said Tuesday it received two contracts collectively valued at $8.7 million to produce explosion-welded plates for a nickel hydrometallurgy project in Madagascar, an island nation off the coast of southern Africa.
Both orders are expected to ship during the first half of fiscal 2007 and were placed by Chinese and European fabricators working on the project.
The company’s explosive welding operations in France, Sweden and the U.S. will participate in the production process, which involves cladding plates of titanium and carbon steel.
Shares of Dynamic Materials climbed $1.62, or 5 percent, to $35.19 in premarket trading after closing at $33.57 on the Nasdaq.
