PMGC Holdings (NASDAQ:ELAB) shares climbed 14% on Wednesday after its subsidiary AGA Precision Systems announced a new long-term supply agreement with a Tier 1 aerospace and defense customer.
The contract represents AGA’s second long-term deal with an aerospace and defense partner in 2026, following a similar agreement signed with Turbo-Jet Products Co. on March 31.
Under the terms of the agreement, AGA will provide precision CNC-machined components for use in the customer’s aerospace and defense programs. The contract includes strict performance standards covering quality, delivery timelines, and pricing requirements associated with mission-critical defense applications.
The customer’s identity was not disclosed because of confidentiality commitments and regulatory restrictions, including compliance with International Traffic in Arms Regulations (ITAR). The company said further information may be provided if the agreement becomes financially material.
AGA Precision Systems, based in California, is an ITAR-registered and AS9100-certified manufacturer specializing in precision CNC machining for aerospace and defense industries. The company produces high-tolerance components through advanced milling, turning, and machining processes using complex metals such as titanium, Inconel, stainless steel, and aluminum alloys.
According to the company, the long-term contract improves operational visibility and supports the potential for recurring revenue while strengthening AGA’s role as an approved supplier within the U.S. aerospace and defense supply chain.