Ashland, Kentucky-based Braidy Industries says it has adopted Unity Aluminum as its new name, which "signifies the company’s steadfast commitment to its customers, innovative technologies and local community in Ashland."
The company says its current leadership team “has accelerated its plans to build the world’s most technologically advanced aluminum rolling mill at a time when global capacity is significantly constrained.” Unity Aluminum says it is currently “working to finalize fundraising and begin construction.”
“Unity Aluminum has a bright future,” states its President and CEO Don Foster. “Based on the market needs, the initial positive customer response, and the shovel-ready position we are in, I am extremely optimistic. The name and vision, ‘Unity Aluminum: Together. Lighter. Stronger. Greener.,’ reflects our commitment to successfully complete this project and follow through on our promise to be the preferred supplier of innovative, high-quality, sustainable aluminum solutions. This will be accomplished by working in unity with our customers, employees, suppliers and local community.”
As Braidy Industries, the company has experienced conflict between board members and now-departed executives, in part for announced investments that never were finalized. The firm also has been scrutinized for its acceptance of $15 million directly from the commonwealth of Kentucky as an investor, followed by taking on Rusal as another investor. That Russia-based firm has spent time on the U.S. Treasury Department’s sanctions list because of its former ties to Oleg Deripaska, who the department has accused of money laundering.
The newly named Unity, in an Oct. 15 news release, expresses determination to press ahead with the planned construction of what it calls “a state-of-the-art, low-emissions greenfield” rolling-mill facility with a planned capacity of “330,000 annual tons of production-ready series 3000, 5000 and 6000 aluminum sheet for the automotive, transportation and distribution markets. Future opportunities are available in the rapidly growing beverage can market, as well.”
“Unity Aluminum is committed to ushering the global aluminum industry forward,” says Charles Price, chair of the company’s board. “Don and his team are working tirelessly to bring the Unity Aluminum mill to fruition, and we expect to see their work deliver great results in the coming months and years.”
In a Feb. 2019 interview with Recycling Today, former Braidy executive Thomas Modrowski said the firm intended to be a “leader in closed-loop recycling with automotive customers” and was exploring options “to refine various scrap sources, including UBCs (used beverage cans).”