Braidy Industries Inc., a new venture helmed by former Real Industry Inc. chief executive officer Craig Bouchard, will invest $1.3 billion to construct a greenfield aluminum rolling mill in eastern Kentucky.
Braidy Industries intends to become a low-cost producer of aluminum sheet, plate and alloys, using advanced technologies to supply the aerospace and automotive sectors, the company said in a joint announcement issued April 26 by Bouchard, who is chairman and CEO of Braidy Industries, and Kentucky Governor Matt Bevin.
The proposed facility will have an initial annual capacity of 370,000 tons, specialize in 5000-, 6000- and 7000-series aluminum products, and will explore new scientific nano-crystalline technical advances to improve molten-metal manufacturing, Braidy said.
The company plans to break ground during the first quarter of 2018 with construction slated for completion in 2020. We believe that a large-scale greenfield investment in aluminum and other materials will create a substantial competitive advantage, Bouchard said.