Significant Debt Reduction
Net debt was reduced to $30.1 million, down 47% since the start of the year, marking the lowest level since acquiring Arcadia in 2021.
Arcadia's Improved Performance
Arcadia's third quarter sales increased by 7% year-over-year, with adjusted EBITDA more than doubling to $5.1 million, reflecting better operational performance.
Record Order for NobelClad
NobelClad secured a $20 million order, the largest in its 60-year history, boosting its backlog by 53% from the second quarter.