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CEO Ousted at Kentucky Aluminum Company Amid Questions About Controversial Funding
By: Sydney Boles | Ohio Valley ReSource
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A controversial economic development project in Ashland, Kentucky, hit a snag last week as aluminum company Braidy Industries ousted CEO and board chairman Craig Bouchard. In a statement, Braidy Industries’ interim CEO said he appreciated Bouchard’s hard work for the company. Bouchard says the firing was improper and is refusing to step down. The dueling… Read More
Bevin Administration Again Ordered to Release Braidy Records
By: Associated Press
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FRANKFORT, Ky. (AP) — Gov. Matt Bevin’s administration has again been ordered to release records about Braidy Industries, which is partly owned by the state and plans to build an aluminum mill in Kentucky. The Lexington Herald-Leader reports Franklin County Circuit Judge Phillip Shepherd said in a ruling released Tuesday that he reviewed documents submitted by the… Read More
Braidy Industries Attracts Kentucky Backers in Mill Project
By: Associated Press
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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. Braidy CEO… Read More
Company Says It Has 4 Months To Raise $300M For New Mill
By: Associated Press
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LOUISVILLE, Ky. (AP) — Braidy Industries says it has about four months to raise $300 million in equity capital for a proposed aluminum mill in Kentucky or risk losing a large investment. The Courier Journal reports Braidy provided the details in a U.S. Securities and Exchange Commission filing this week about its agreement with United Co. Rusal…. Read More
Congressional Leaders Seek Investigation Into Russian Investment In KY Aluminum Mill
By: Sydney Boles | Ohio Valley ReSource
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A group of Congressional leaders asked the Trump administration to review a Russian company’s investment in a new Kentucky aluminum mill. The request comes from eight prominent Democratic lawmakers with leadership roles in committees with oversight, banking and national security responsibilities, including Ohio Sen.Sherrod Brown and House Intelligence Committee Chair Rep. Adam Schiff. The lawmakers… Read More
From Russia, With Loot: KY Aluminum Company’s New Russian Partner Raises Concerns
By: Sydney Boles | Ohio Valley ReSource
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A large whiteboard in an Ashland, Kentucky, unemployment office is covered with a list of companies that are currently hiring. Senior career counselor Melissa Sloas said that just a few years ago, that board was a lot emptier. This corner of eastern Kentucky has long struggled to make up for losses in mining and manufacturing…. Read More
Kentucky Aluminum Plant Investor Is Russian Company Formerly Under U.S. Sanctions
By: Sydney Boles | Ohio Valley ReSource
Posted on:
Russian aluminum company Rusal announced Monday it plans to invest in a new Kentucky aluminum mill to be built near Ashland in eastern Kentucky. The $200 million investment in Braidy Industries is Rusal’s first U.S. project since the Trump administration lifted U.S. sanctions placed against the company. Rusal had been sanctioned by the U.S. government because its major controller, Russian… Read More