Braidy Industries changes name to Unity Aluminum
ASHLAND, Ky. (AP) - An aluminum company planning to build a massive mill in Appalachia has changed its name from Braidy Industries to Unity Aluminum.
A release from the company Thursday said the new name “signifies the company’s steadfast commitment to its customers, innovative technologies and local community in Ashland, Kentucky.”
Company leaders said Unity is in a position to help fill the nation’s shortage of domestic aluminum and aging facilities.
The name change “sets the stage to finalize fundraising and begin construction,” the company said.
The company underwent a management shakeup this year when Braidy Industries founder Craig Bouchard was removed as CEO. The company said it was displeased with financing and had other concerns about his performance.
Kentucky taxpayers have a direct stake in Braidy’s plans to build the $1.7 billion aluminum rolling mill near Ashland. Former Gov. Matt Bevin persuaded Kentucky lawmakers to approve a $15 million state investment in the project.
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