Morgan Watkins, Louisville Courier Journal

ASHLAND, Ky. — The first batch of college students will graduate in May 2020 from a program designed to prepare them to work at Braidy Industries’ planned $1.7 billion aluminum rolling mill.

Ashland Community and Technical College developed its Advanced Integrated Technology program, which launched in August 2018, with input from Braidy, AIT Program Coordinator Michael Tackett said.

Braidy wanted students to learn the fundamentals of the main systems used in manufacturing plants, such as hydraulic and motor control systems, Tackett said. For example, instructors show students how to read schematics and wire electrical systems.

 

Braidy Industries: High Tech Aluminum Production, Eco-friendly Alloys

CIO Bulletin

Aluminum is one of the most important metals for humanity. The material scientists are still discovering the new utilities for this metal. Ashland, Kentucky-based Braidy Industries is the leading game when it comes to this discovery.

The company’s initial project is a 2.5 million-square-foot, one-of-a-kind fully integrated aluminum rolling mill in Eastern Kentucky. This will be the most technically advanced mill in the U.S. It will be the first new mill of this kind in more than 30 years in the country and roughly $1.6 billion is being spent to make this dream happen.

The project is bound to create as many as 1,000 construction jobs and upon completion of the plant, it will be able to employ over 600 people for skilled labor and administration jobs. The mill will be located in the Greenup County, near Ashland, Kentucky right on the Ohio River. Moreover, the CSX railroad runs through this property. The I-64 nearby also connects the mill to over 12 automotive plants in the 300-mile radius, making delivery easy.

 

Rocky Adkins, Terri Branham, Kathy Hinkle and Robin Webb, Opinion contributors

Braidy Industries wants to build an aluminum rolling mill in eastern Kentucky, but has hit some snags along the way. Nikki Boliaux, Louisville Courier Journal

It’s not every day that a cutting-edge company like Braidy Industries chooses Kentucky, and let me tell you, we are excited about it. We supported the project from the beginning. It’s good for Eastern Kentucky and the entire commonwealth, and we are confident in its future.

We all need Braidy to succeed and bring hope and opportunity back to our region. While we may be gearing up for football in the Bluegrass, thousands of family’s futures are depending on this significant and valuable investment that will bring back the types of jobs our people need and deserve.

For some time, the Appalachian region hasn’t been making the best economic news. But times are changing, and Braidy is a big part of the reason. A study conducted by renowned economics professor James Koch found that Braidy will generate $2.8 billion of economic value in Kentucky by 2021. He also found that Braidy will impact the four surrounding Ohio and West Virginia counties, adding more than 8,000 jobs to those counties.

 

By Simon Shuster/London and Vera Bergengruen/Ashland, Ky.

Last summer, it looked like things were finally about to change for Ashland, Ky. For two decades, the jobs that once supported this Appalachian outpost of 20,000 people on a bend in the Ohio River have been disappearing: 100 laid off from the freight-rail maintenance shop; dozens pink-slipped at the oil refinery; 1,100 axed at the steel mill that looms over the landscape. Then, on June 1, 2018, standing on a stage flanked by the state’s governor and business leaders, Craig Bouchard, the CEO of Braidy Industries, pointed across a vast green field and described a vision as though he could already see it.

 

ASHLAND, Ky. (AP) — Braidy Industries says hundreds of Kentuckians have become shareholders as the company lines up financing for a $1.7 billion aluminum mill in eastern Kentucky.

The company says it recently completed the “crowdfunding” portion of its common stock offering, which was capped at just over $1 million worth of shares…

 

By MARK MAYNARD, Kentucky Today

ASHLAND, Ky. (KT) – Braidy Industries CEO Craig Bouchard expressed confidence Tuesday that the company is in perfect position to open its $1.7 billion Braidy Atlas mill in northeastern Kentucky in 2021 – and it has done it faster than anybody expected.

As of Tuesday, he said, $300 million has been raised and the majority of the capital needed is now in hand either in cash, binding commitments or letters of intent.

In other words, he said, it’s coming.

“Our progress building one of the largest mills in the world has gone faster than any project of this size in memory,” Bouchard said…

 

Glenn Puit, Editor, The Daily Independent

Braidy Industries Chief Executive Officer Craig Bouchard said the company is on track for opening its Atlas mill in 2021 with the company also on schedule for raising the necessary capital.

Bouchard said Tuesday the mill’s projected total cost is $1.7 billion. As of Tuesday $300 million has been raised and the majority of the remaining capital needed is now in hand in cash, binding commitments or letters of intent.

“Between the debt and equity markets the total cost of the mill is $1.7 billion,” Bouchard said. “In essence that is the raise between debt and equity to pay for it. Braidy Industries has raised over $300 million of cash equity to date. So we have had a tremendous amount of success and we have a very strong interest level from people in negotiating with us for the final pieces.”

Bouchard said Braidy is going to be able to raise the remaining capital.

“The majority of our capital raise — both debt and equity — is now in hand in cash, binding commitments or letters of intent,” Bouchard said…

 

Braidy Industries Inc. is getting a $200 million investment to help it build an aluminum rolling mill in Ashland, Ky.

The Wall Street Journal reports that the investment is from United Co. Rusal, a giant Russian aluminum company.

The companies reached a 10-year agreement that would make Braidy the largest customer of Rusal, which would supply the plant with as much as 200,000 metric tons of aluminum each year, according to the report. The deal also would give the Russian company a 40 percent stake in the Braidy subsidiary that will operate the mill.

The deal requires approval from the boards of Braidy and En+ Group PLC, the parent company of Rusal.

Braidy CEO Craig Bouchard told the WSJ that with the investment, the company will reach its goal to raise $500 million in private investments. And that will enable Braidy to secure $1.2 billion in loans to build the plant. He also said he expects to take the company public in July.

The $1.7 billion plant made headlines in 2017 after the Kentucky General Assembly approved a special $15.6 million appropriation, at Gov. Matt Bevin’s urging, to have the state invest in the company to spur economic development in Eastern Kentucky.

 

By Will Wright

Braidy Industries, which plans to build a $1.7 billion aluminum mill near Ashland, will partner with a Russian company previously blacklisted by the U.S. government for alleged meddling in the latest presidential election.

Rusal, one of the largest aluminum producers in the world, announced in a news release Monday that it will invest in the project, taking a 40 percent ownership share of the mill, and provide aluminum to Braidy Industries.

The two companies have entered into a Letter of Intent, and expect to sign a binding document in the second quarter of 2019, according to the release.

The partnership represents a potential $200 million lead investment by Rusal, said Jaunique Sealey, Braidy’s Executive Vice President of Business Development, during a news conference at the New York Stock Exchange.

“Rusal is the only company worldwide which could supply low carbon aluminum at the scale required by Braidy Industries,” Sealey said.

 

Glenn Puit, Editor

NEW YORK – It was a moment of celebration for Northeast Kentucky and Braidy Industries Monday morning at the New York Stock Exchange as company leaders detailed a new global partnership to develop Braidy’s aluminum mill right here in the Tri-State.

Ashland-based Braidy confirmed late Sunday it is partnering with global economic powerhouse En+ Group, which owns a controlling stake in worldwide aluminum supplier Rusal. The partnership involves a $200 million lead investment in the Braidy Atlas aluminum mill at EastPark Industrial Center by the Russian-based Rusal.

“It is a project of global importance,” said Lord Gregory Barker, En+Group executive chairman, during a Monday press conference at the NYSE.

The proposed partners have a letter of intent in place for the investment from Rusal. The deal still has to be approved by boards of directors from both companies. The deal is a major step forward for Braidy, bringing international financial backing to a $1.7 billion mill projected to create some 600 full-time jobs to the Boyd-Carter-Greenup county area, as well as more than 1,000 construction jobs as the plant is constructed.