Braidy Industries

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Braidy Industries, Inc.
Private
IndustryAluminum manufacturing
FounderCraig T. Bouchard
Headquarters,
United States
Area served
United States
Key people
Craig T. Bouchard (CEO)[1][2]
ProductsAluminum alloys
Websitebraidyindustries.com

Braidy Industries is an Ashland, Kentucky-based aluminum alloys manufacturer for aluminum in the automotive and food & beverage industries.[3][4][5][6]

Subsidiaries[edit]

Braidy Industries owns both Veloxint, incubated at MIT, and NanoAl, incubated at Northwestern University.[7]

History[edit]

Braidy Industries was founded by Craig T. Bouchard who wanted to create eco-friendly aluminum alloys. The industry demand was bending towards stronger and lighter materials and the company was founded to accommodate the market gap created by this generational shift.[8][9][10][11]

Braidy Industries started off with an initial project of a fully integrated aluminum rolling mill in the Greenup County, Kentucky, comprising a 2.5 million square-foot area. The site is located in Eastern Kentucky and the facility costs were estimated to be around $1.6 billion.[12][10][4][13][14][15]

The site for the mill is located on the Ohio River and the CSX railroad runs through the site as well as I-64 connects the site to various automotive plants in 300 miles around the region. This advantage allows the site to utilize the just-in-time approach.[16][10][17][18]

The company is working with the Ashland Alliance and the Kentucky Economic Development Finance Authority (KEDFA) as a part of the Kentucky Business Investment program based on which they received up to $10 million in tax incentives.[19][10][20][21][22]

Joint venture with RUSAL[edit]

In April 2019 Braidy announced a joint project with RUSAL, a Russian company partially owned by the oligarch Oleg Deripaska. The project is to develop the mill site in Ashland, Kentucky "to produce flat-rolled aluminium products for the U.S. automotive industry," according to a company press release.[7]

References[edit]

  1. ^ aciwpadmin. "Six Lessons from CEO's Huge Aluminum Gambit in Appalachia - Braidy Industries".
  2. ^ aciwpadmin. "Braidy, Subsidiary Veloxint Make 5 Executive Appointments - Braidy Industries".
  3. ^ "Bloomberg - Are you a robot?". www.bloomberg.com.
  4. ^ a b Buss, Dale. "Auto OEMs Look To New Braidy Industries Mill In Kentucky To Boost Aluminum Supplies". Forbes.
  5. ^ PACE, FRED. "Braidy Industries looks to raise funding to finish building aluminum mill in NE Kentucky". The Herald-Dispatch.
  6. ^ aciwpadmin. "President Trump Mentions Braidy Industries in Speech - Braidy Industries".
  7. ^ a b Cristina Maza (April 15, 2019). "Sanctioned Russian Oligarch's company to invest millions in new aluminum plant in Mitch McConnell's state". Newsweek.
  8. ^ "Braidy Industries Launches Common Stock Offering". www.businesswire.com. 20 September 2018.
  9. ^ "Braidy Industries - Craig Bouchard".
  10. ^ a b c d "Aluminum Production and much more - Braidy Industries".
  11. ^ "Braidy Industries". Crunchbase.
  12. ^ Buss, Dale (5 September 2018). "Six Lessons from CEO's Huge Aluminum Gambit in Appalachia".
  13. ^ aciwpadmin. "$4M Abandoned Mine Lands Pilot Grant Announced for EastPark Industrial Park - Braidy Industries".
  14. ^ aciwpadmin. "$4M Grant Issued for EastPark Prep Work - Braidy Industries".
  15. ^ aciwpadmin. "Did Trump's aluminum tariffs spark a $1.5 billion plant in Kentucky? - Braidy Industries".
  16. ^ LLC, Industrial Project Innovation. "Industrial Project Innovation Selected as Construction Manager for Braidy Industries' Aluminum Rolling Mill in Kentucky". www.prnewswire.com.
  17. ^ Staff, Associated Press, Kathryn Robinson, Chad Hedrick, WSAZ News. "PSC asks for assurances in funding for Braidy project". www.wsaz.com.
  18. ^ aciwpadmin. "Industrial Project Innovation Selected as Construction Manager for Braidy Industries' Aluminum Rolling Mill in Kentucky - Braidy Industries".
  19. ^ Independent, Glenn Puit The Daily. ""We are going to do it" — Braidy Industries launches stock offering". The Independent Online.
  20. ^ Editor, Glenn Puit. "More on Braidy: 1,500 construction jobs planned". The Independent Online.
  21. ^ "Invest in Braidy Industries - Netcapital". netcapital.com.
  22. ^ aciwpadmin. "'I've Got Faith': Potential Aluminum Workers Wait on Jobs - Braidy Industries".

External links[edit]