Nuclear expansion Capital investment signals a strategic push into the nuclear sector, specifically large component forgings for Gen III+ SMR programs. NAF's open die capability handles very large forgings with in-house steel making and finishing, enabling turnkey supply. This opens opportunities to source reactor components, containment parts, and related subsystems from a single, integrated supplier. Positioning as a scalable, project-driven manufacturer can attract energy customers seeking long-term, high-value contracts.

End-to-end capability NAF is the only fully integrated open die forge in the Western Hemisphere, offering steel making through finish machining under one roof. This end-to-end capacity reduces supplier risk, shrinks lead times, and simplifies supplier management for customers of large forged parts. Opportunities include heat treatment, non-destructive testing, precision machining, and packaging into ready-to-install assemblies for energy, defense, and heavy equipment clients.

Regional advantage Based in New Castle, Pennsylvania, NAF sits in a dense industrial ecosystem with access to nearby mills and suppliers. The region’s demand for heavy components in energy, manufacturing, and infrastructure presents a ready-made pipeline for forged parts. Proximity supports faster delivery, easier collaboration, and the potential for multi-year supply arrangements with regional utility, OEM, and defense customers.

JV leverage A joint venture between Scot Forge and Ellwood Group provides immediate access to established customer networks and cross-brand credibility. Sales teams can leverage the combined brands to pursue larger bids and broaden target markets across aerospace, power generation, and oil and gas. There is also potential to bundle forging with related services from partner companies to win longer-term contracts.

Growth momentum With a growth-oriented capital program and a clear expansion into large-scale forgings for strategic sectors, NAF is positioned to win multi-year, high-value programs. The company's scale, unique market position, and integrated capabilities support recurring revenue through long-term supply agreements, spare parts, and aftermarket services.