“Mr. Bouchard’s suit is an expected step in the process of removing him from the role of CEO of Braidy. The board of directors was not pleased with the status of financing for the mill in Boyd and Greenup counties, and has other concerns regarding his performance as CEO. Thus, as part of its fiduciary role on behalf of the shareholders, the board voted to take action that it believes will be he upheld in court under Delaware law. Mr. Bouchard, as CEO, must be held accountable and the board of directors is willing to do what it takes to ensure that occurs. We intend to get this project built as promptly as possible.”

Alton Strupp, Louisville Courier Journal

After AK Steel began laying workers off in 2015, many hoped that Trump’s tariffs may help keep the mine open. That didn’t happen.

 

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.

 

Cision PR Newswire

Mr. Otero brings multi-disciplinary aluminum industry executive experience to Braidy Industries as the Company builds the Braidy Atlas Mill and begins nanocrystalline powder manufacturing operations in Ashland, Kentucky

ASHLAND, Ky., Dec. 9, 2019 /PRNewswire/ — Braidy Industries, Inc. (“Braidy Industries”), an Ashland, Kentucky-based manufacturer of metals for the global transportation, toolmaking, and food and beverage industries, has named Mike Otero as Chief Operating Officer (COO), effective January 6, 2020. Mr. Otero joins the Braidy Industries executive team with the added designation of Head of the Ashland Headquarters facility. He will report directly to Craig Bouchard, CEO and Chairman of Braidy Industries.

Most recently, Mr. Otero was CEO of Oman Aluminum Rolling Mill Company, LLC (OARC), a $500 million greenfield aluminum rolling mill and paint line facility built in Sohar, Oman. During Mr. Otero’s time with OARC, the Company became EBITDA and cash flow positive, and was able to strategically position itself as the world’s largest off-shore supplier of aluminum flat rolled products (common alloy and foil) to the United States. Prior to OARC, Mr. Otero served as Commercial and Supply Chain Manager for Sohar Aluminum, a $2.7 billion greenfield construction smelter and power plant project.

Mr. Otero also held prior positions at Rio Tinto Aluminum, Edwards D. Jones & Co., LLP and Crown Crafts, and served in the United States Marine Corps Reserves from 1989-1997 as a logistics specialist.

Craig Bouchard, CEO of Braidy Industries, said, “Mike’s extensive executive experience in the aluminum industry will be of unique advantage to Braidy Industries as we move forward with the construction of our world-class aluminum rolling mill. His track record in operations and finance, and experience building a successful commercial mill will prove instrumental to achieving our objective of developing lighter and stronger low-carbon alloys for America and territory beyond.”

Of his new role, Mr. Otero said, “I am thrilled to join the Braidy Industries team creating a generational shift in the production of aluminum and other lightweighting materials. Working alongside my uniquely talented colleagues, we have our common goal of bringing economic revitalization to Appalachia.”

Mr. Otero holds a Bachelor of Administration in Accounting from Georgia Southern University, as well as a Masters of Business Administration from Western Carolina University and Universität Mannheim.

About Braidy Industries, Inc.:

Braidy Industries, Inc. was formed to lead a national transformation in the manufacture and use of efficient, eco-friendly metal alloys that are lighter and stronger than metals currently in commercial use. The Company’s first project, the construction of Braidy Atlas aluminum rolling mill, a state-of-the-art low-emissions greenfield manufacturing facility at EastPark Industrial Center in Ashland, Kentucky, will position Braidy Industries as the low-cost, low-carbon maker of 300,000 annual tons of production-ready series 3000, 5000 and 6000 aluminum sheet for the automotive and beverage can industries. Braidy’s subsidiary, Veloxint Corporation, is an MIT-incubated lightweighting solutions company that is manufacturing parts with patented nanocrystalline technology. Braidy’s subsidiary NanoAl LLC is a world leader in the science of nanocrystalline technology applied to aluminum.

For more information, visit www.braidy.com.

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.

 

Graduates from Braidy’s ACTC AIT program will work for subsidiaries NanoAl and Veloxint earning $65,000 per year

ASHLAND, KY – OCTOBER 28, 2019 – Following the creation of 200 jobs at the newly-opened Marriott Delta Hotel in downtown Ashland situated across the street from Braidy Industries, Inc. (“Braidy”) Headquarters, today, Braidy has announced that 15 graduates from the Company’s Ashland Community & Technical College (“ACTC”) Advanced Integrated Technologies (“AIT”) program will be hired to full-time positions at Braidy subsidiaries NanoAl and Veloxint. Each of these positions will pay base salaries of $65,000 per year, an increase of 45% relative to the average employee income in Kentucky.

Massachusetts Institute of Technology-incubated Veloxint provides high performance products and parts using novel nanocrystalline metal alloys and fundamental science, resulting in performance improvements two to five times better than current metals. Northwestern University-incubated NanoAl produces pioneering aluminum superalloys using advanced materials and nanotechnology research to develop products that offer improved strength, toughness, high temperature strength, creep resistance, electrical conductivity and manufacturability.

Veloxint and NanoAl are locating their manufacturing operations at the EastPark Industrial Center adjacent to the Braidy Atlas mill site. The first five graduates will first travel to Boston, MA for several months where they will receive specialized training in powder metallurgy at Veloxint Headquarters.

“Our Advanced Integrated Technologies Program at ACTC has proven to be an outstanding cultivator of the next generation of skilled labor in Appalachia,” said Craig Bouchard, CEO of Braidy. “Braidy is committed to economic prosperity in the great city of Ashland and surrounding counties, which is only possible if we educate, train and empower our youth and then support their achievements with well-paying jobs when they graduate.”

Dr. Jay Box, President of The Kentucky Community and Technical College System (KCTCS), added, “The KCTCS and Braidy Industries partnership to create the Advanced Integrated Technologies Program at Ashland Community and Technical College is an excellent example of a public-private workforce initiative that will impact many lives in Eastern Kentucky. The first cohort of students will be graduating soon and will be fully prepared with world-class advanced manufacturing skills to assume the high paying positions that Braidy will have to offer.”

“The strong partnership between Braidy Industries and ACTC is already creating a ripple effect in the Ashland region as the next generation of skilled workers graduate, ready to fill open positions in their community,” said Governor Matt Bevin. “We are proud of the ACTC graduates for filling these high-demand jobs within Braidy’s subsidiaries, and we look forward to watching them grow along with these exciting companies.”

Braidy recently announced the publishing of a second economic impact report estimating that the Company will catalyze $238.3 million in economic growth in West Virginia and $153.0 million in Ohio. Braidy Atlas mill will be the first new mill of its kind in the U.S. in more than 37 years and create 1,500 construction jobs, 650 new permanent advanced manufacturing jobs and approximately 3,600 additional jobs in the surrounding communities in Appalachia.

About Braidy Industries, Inc.
Braidy Industries, Inc. was formed to lead a national transformation in the manufacture and use of efficient, eco-friendly metal alloys that are lighter and stronger than metals currently in commercial use. The Company’s first project, the construction of Braidy Atlas aluminum rolling mill, a state-of-the-art low-emissions greenfield manufacturing facility at EastPark Industrial Center in Ashland, Kentucky, will position the Company as the low-cost provider of 300,000 annual tons of production-ready series 3000, 5000 and 6000 aluminum sheet for the automotive and beverage can industries. Braidy’s subsidiary, Veloxint Corporation, is an MIT-incubated lightweighting solutions company that is manufacturing parts with a novel nanocrystalline technology. Braidy’s newest subsidiary, NanoAl LLC is a world leader in the science of nanocrystalline technology applied to aluminum. For more information, visit www.braidyindustries.com.

Media Contacts:
Jaunique Sealey
jsealey@braidy.com
606.575.3121

Anthony Feldman
afeldman@kcsa.com
347.487.6194

Braidy Industries expected to add 3,945 job years in Ohio and 4,217 in West Virginia

Average annual wage will be 17.5 to 35.5 percent above regional county averages

Estimated annual output in Ohio is $153.0 million and $238.3 million in West Virginia

Estimated annual total earnings in Ohio is $205.1 million and $185.3 million in West Virginia

(Ashland, KY) October 9, 2019 —A report assessing Braidy Industries, Inc.’s (“Braidy”) estimated economic impact on the neighboring states of Ohio and West Virginia was issued today by Dr. James V. Koch, Board of Visitors Professor Emeritus of Economics and President Emeritus of Old Dominion University.

The report found substantial economic impact in the tristate region as a result of Braidy. It focuses on Braidy’s impact as an employer within Lawrence and Scioto counties in Ohio, and Cabell and Wayne counties in West Virginia, a region where individuals commonly work across state lines. The U.S. Census estimates that over 5,000 individuals travel from these counties daily to Boyd County, Kentucky to work.

Today’s tristate economic impact report supplements a previous economic study released in April 2019 on Braidy’s impact on the Commonwealth of Kentucky. That report found that Braidy will catalyze $2.8 billion in economic growth in Kentucky and $1.54 billion within the six-county Eastern Kentucky region from construction through the first year of production in 2021.

Utilizing the U.S. Department of Commerce’s RIMS-II economic impact model, the study forecasts significant economic prosperity generated by Braidy through 2021, including:

  • An average Braidy weekly wage 17.5 to 35.5 percent above regional averages within West Virginia and Ohio.
  • An estimated impact on the value of output in Ohio of $153.0 million, and a comparable figure in West Virginia of $238.3 million.
  • An estimated annual total earnings in Ohio of $205.1 million and $185.3 million in West Virginia.
  • West Virginia will experience 61 percent of the non-Kentucky economic output impact of Braidy, while Ohio will experience approximately 39 percent of it.
  • 52 percent of the economic impact of non-Kentucky jobs will occur in West Virginia, while 48 percent will be in Ohio.
  • Nearly one-in-every six jobs in Wayne County, West Virginia will be tied to Braidy, as well as one-in-every-seven jobs in Lawrence County, Ohio.

“The tristate region is home to a talented workforce eager to help companies like Braidy create prosperity. We chose Ashland, Kentucky because of these dedicated and hard-working people.” said CEO Craig Bouchard. “Dr. Koch’s study shows the power of private companies and communities working together. We have assembled a multi-disciplinary team consisting of the best of the best to make these impact estimates a reality.”
Mr. Bouchard spoke before the UN Global Climate Action Summit in NY last week. Braidy Atlas has taken a leadership role in the international coalition to bring the aluminum Industry to zero net emissions by 2050. The health and prosperity of our community are of a higher priority than political partisanship.

About the Braidy Atlas Mill:

  • The Braidy Atlas mill in Ashland, Kentucky (Braidy Atlas) will produce non-proprietary aluminum sheet for the automotive and food and beverage industries. Braidy will not supply aluminum to any branch or department of the US Government. Braidy is not seeking financing from the US Government.
  • The mill capacity is already 200% pre-sold utilizing non-binding and binding commitments to private industry customers for the first seven years of production.
  • Braidy Atlas, the first aluminum rolling mill to secure a “minor contributing source” air permit from the Federal EPA, targets 20% lower carbon emissions than next lowest competitor.
  • Braidy Atlas will become the first rolled products aluminum sheet producer to use 100% low-carbon inputs on an ongoing basis from its inception.
  • Rusal is investing $200 million of the $1.7 billion of capital required to build the Braidy mill.
  • Thanks to the hydro-produced low carbon aluminum Rusal will provide to the mill, Braidy will have the lowest carbon imprint in the global aluminum rolling mill industry.

About Braidy Industries, Inc.:

Braidy Industries, Inc. was formed to lead a national transformation in the manufacture and use of efficient, eco-friendly metal alloys that are lighter and stronger than metals currently in commercial use. There is a lightweighting revolution occurring in material science, and we intend to disrupt the metal manufacturing industry with transformative economics and technology. The company’s first project, the construction of a greenfield aluminum rolling mill at EastPark Industrial Center in Ashland, Kentucky, will position the company as the low-cost provider of 300,000 annual tons of production-ready series 3000, 5000 and 6000 aluminum sheet. Braidy’s subsidiary, Veloxint, is an MIT-incubated lightweighting solutions company. Veloxint manufactures powder and parts with a patented nanocrystalline powder technology. Braidy’s newest subsidiary, NanoAL is a world leader in the science of nanocrystaline technology applied to sheet aluminum. For more information, visit www.braidy.com.

About Dr. James V. Koch:

Dr. Koch currently serves as the Board of Visitors Professor Emeritus of Economics and President Emeritus of Old Dominion University. He has completed nearly 50 economic impact studies, in addition to authoring 12 books, 120 journal articles and features in top-tier publications including The New York Times, The Wall Street Journal and The Washington Post.

Media Contact:
Jaunique Sealey
Tel: 606-420-4645
jsealey@braidy.com

 

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.