The Washington Post

Did Trump’s aluminum tariffs spark a $1.5 billion plant in Kentucky?

By Glenn Kessler, June 7, 2018


The president wants to shrink the trade deficit. The Fact Checker explains why a deficit isn’t all bad. (Meg Kelly/The Washington Post)

“Just last Friday, we had a plant, a groundbreaking in Ashland, Kentucky, the heart of poverty in America in Appalachia. $1.5 billion aluminum rolling mill because of the president’s tax and tariff policy.”
– White House aide Peter Navarro, interview on Fox News, June 4, 2018

 

“This is a story that’s truly remarkable and Donald J. Trump has brought in tax cuts, deregulation and trade policies that are working for the American working people. And guess what, on Friday they opened a $1.5 billion groundbreaking aluminum rolling mill in Ashland, Kentucky.”
– Navarro, interview on Fox News, June 3

The Trump administration, led by the president, is quick to claim credit for good news even if its policies may have had little to do with it. So our antenna went up when we saw Navarro, the White House director of trade and industrial policy, repeatedly attribute the building of a rolling aluminum plant in Kentucky to the president’s tariff and tax policies.

It takes time to build and plan a factory. But the president only announced tariffs of 25 percent for foreign-made steel and 10 percent for aluminum on March 1, so how is this possible?

Read the full article at the The Washington Post
 

CNBC

CNBC Interview About Proposed Tariffs

Braidy Industries CEO: Overall Tariffs Effect Very PositiveCEO Craig Bouchard lights up CNBC in an interview about proposed tariffs on aluminum imports. Watch him talk about the positive effects expected for our industry, our company, and jobs in America.

See Full Video at CNBC >

Business Wire

Braidy Industries Completes $75 Million Issue of Common Stock and Closes Acquisition of High-Technology Metals Company Veloxint

Braidy Industries, headquartered in Ashland, Kentucky, raised $75 million dollars in a common stock issuance at $10 per share

Veloxint, with its proprietary ultra-high-strength powder metallurgy technology, was acquired in a stock exchange for 100% of its outstanding equity, making Veloxint a wholly-owned subsidiary of Braidy Industries

Veloxint manufacturing will be co-located at the Braidy Industries EastPark site in Ashland, Kentucky

ASHLAND, Ky.–(BUSINESS WIRE)–Less than one year after their announcement of plans to construct a $1.5 billion greenfield aluminum mill in Greenup County, Kentucky, Braidy Industries announces its successful completion of a $75 million Series B common stock issuance at $10 per share. Following the close of this financing, Braidy Industries finalized its acquisition of 100% of the outstanding equity of MIT-incubated ultra-high strength alloy and powder metallurgy provider, Veloxint.

“We are excited to officially bring Veloxint into the Braidy Industries family. This will enable the next step in fulfilling our original vision of transforming the metals industry using Veloxint’s proprietary materials design toolset to offer high-performance, cost-effective next-generation metal products.”

Craig T. Bouchard, Braidy Industries Chairman and CEO, said, “The close of our Veloxint acquisition places Braidy Industries in position to meet the demands and challenges of a transportation industry in need of cost-effective light-weighting. In the very near term, Veloxint will become the ‘lighter and stronger’ standard for transportation, mining, tools and consumer goods. This is a terrific win for Kentucky, and consistent with the goal of converting the Northeast corner of our beautiful state into the global intersection of science and advanced manufacturing.”

Read the Full PR at Business Wire

Kentucky Today

Lawmaker: Braidy Industries ‘Game-changer’ for Northeastern Kentucky

By MARK MAYNARD, Kentucky Today

ASHLAND, Ky. (KT) – House Democratic Floor Leader Rocky Adkins said even when northeastern Kentucky was experiencing frustrating economic years, lawmakers on both the state and local levels never stopped laying groundwork for the future.

EastPark Industrial Park was built near Interstate 64 along with a $50 million community technical college. Some critics, Adkins said, questioned the wisdom of the investment.

“Now,” he said, “EastPark’s dreams are coming true.”

Braidy Industries, which plans to build a $1.3 billion aluminum rolling mill that’s scheduled to be up and running in 2020, was the final piece of the puzzle.

The groundwork that had been laid in decades past is what made the region attractive to  Braidy Industries Chairman and Chief Executive Officer Craig Bouchard to make a long-term investment. Braidy’s corporate headquarters are in downtown Ashland, and Bouchard says that’s where they are staying.

Read the Full Article

Kentucky Today

CEO of Braidy Industries: ‘We’re Going to Succeed’

By MARK MAYNARD, Kentucky Today

ASHLAND, Ky. (KT) – Craig Bouchard has only to look outside the window of his downtown office in this northeastern Kentucky city for motivation.

Ashland is a shell of what it used to be. But if Bouchard has his way, that will change.

Bouchard, chairman and CEO of Braidy Industries, is leading an ambitious initiative to build a $1.3 billion state-of-the-art aluminum rolling mill in an area that hasn’t had positive economic news in almost 30 years. In less than two months, Braidy plans to break ground on a greenfield rolling mill that is named after one of Bouchard’s six children.

For people in the northeastern Kentucky area, news of hundreds of high-paying jobs has restored hope.

“We chose here because of these families,” Bouchard said. “We’re taking on that job and I think we’re going to succeed. These people have been pushed around long enough. I feel the weight of these 10,000 families on my shoulders every day. This crowd in Ashland, they’ll do it.”

Read the Full Article

Top 10 Local Stories of 2017

By Glenn Puit & Mike James The Daily Independent

It’s official — 2017 is in the books as of midnight tonight.

Looking back on the year it was most certainly a 12 months packed with interesting, intriguing and important local news. There were a bevy of new jobs created in the Tri-State. There were concerns about public safety documented at the Boyd County Detention Center. There were plans formulated and put into place to revive the city of Ashland’s downtown. And, there was the solidification of obstacles we as a region have yet to completely overcome. Today, then, is a day of reflection. It is a day to contemplate all that has come before us in the last 365 days for the purpose of gaining knowledge and learning. It is an endeavor of both contemplation and observation — an undertaking aimed at preparing us for the future to come.

With this in mind The Daily Independent brings you the Top 10 local stories of 2017.

#1 Braidy Industries

There is no doubt as to what the biggest story of 2017 is. It is simply put, the arrival of Braidy Industries.

On a beautiful April afternoon in Wurtland Gov. Matt Bevin called together a who’s who of economic development and community leaders to make the big announcement. Braidy Industries Chief Executive Officer Craig Bouchard, Bevin and others detailed for the anticipatory crowd on hand an ambitious plan by Braidy to construct a 2.5-million-square-foot facility atop 380 acres of riverfront property…

 

Read the Full Article

Business World A-List Together as Shareholders in Braidy Industries

By MARK MAYNARD, Kentucky Today

ASHLAND, Ky. (KT) – Heavy hitters in the business world have joined together as shareholders in Braidy Industries, the firm that’s building a $1.3 billion aluminum rolling mill in northeastern Kentucky.

The list includes entrepreneurs, industrialists, investors, a former member of the U.S. Joint Chiefs of Staff, a world-renowned Harvard University economist, as well as current and former researchers at the Massachusetts Institute of Technology.

Braidy Industries Chairman and CEO Craig T. Bouchard released the names of the eight shareholders on Monday in a news release about a new scholarship fund they have created for local high school students. Bouchard said in the new release that each of the shareholders “takes responsibility to the community seriously” and will work to make eastern Kentucky “the crown jewel of the commonwealth.”

The planned aluminum mill came as welcome news last April to local residents…

 

Read the Full Article

89.3, WFPL

Will Kentucky-Backed Aluminum Plant Flourish? Analyst Says ‘Not Unreasonable’

By Ryland Barton

Politics

The CEO of an aluminum mill slated to open in eastern Kentucky claims the company will be able to sell aluminum for 50 percent cheaper than its competitors, allowing it to pay workers $65,000-per-year starting salaries.

This spring, Braidy is scheduled to break ground on the $1.3 billion plant, which will be located in an industrial park that straddles Greenup, Boyd and Carter Counties.

Braidy CEO Craig Bouchard said the company would open the facility in 2020 and employ 600 workers from the region. Future employees can qualify by getting a Braidy-tailored aluminum rolling associate’s degree from Ashland Community and Technical College…

Read the Full Article

Kentucky Today

Braidy Industries Chairman Reveals Stockholders with Kentucky Ties

By MARK MAYNARD, Kentucky Today

ASHLAND, Ky. (KT) – The chairman of Braidy Industries, the aluminum rolling mill coming to northeastern Kentucky, revealed the identities of shareholders with Kentucky connections in an opinion piece Sunday morning on Kentucky Today.

Read more

Portsmouth Metro Magazine

Milling Hope

Braidy Industries $1.3 billion Aluminum plant will Bring 600+ Jobs to Region

Portsmouth Metro Magazine, by Carrie Stambaugh

The excitement in the room was palpable during the cocktail hour of the Portsmouth Chamber of Commerce’s 2017 Annual Dinner held at Shawnee State University July 25. Craig T. Bouchard, Chairman and CEO of newly formed Braidy Industries, was the slated keynote speaker and everyone present was anxious to catch their first glimpse of the charismatic entrepreneur, who has promised to transform the region “for generations to come” with the country’s first new aluminum mill in nearly four decades.

 

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