Braidy Industries Settles Suit; Bouchard Leaves Board of Directors
ASHLAND, KY. (June 9, 2020) – Braidy Industries today announced the settlement of all litigation between the company and its founder Craig Bouchard. Both the company and Bouchard recognize the contribution each party has made to the creation of Braidy Industries and the state-of-the-art aluminum rolling mill in Eastern Kentucky. The Board of Directors looks forward to building on the foundation Bouchard set and bringing his vision to fruition.
As part of the settlement, Bouchard has stepped down from the Board of Directors of Braidy Industries and is no longer involved with the company in any capacity. Other terms of the settlement were not disclosed.
The settlement marks a path forward for Braidy’s promising business model by removing any litigation-focused marketplace concerns and allowing the Braidy Board of Directors and Ashland leadership team to accelerate plans to build the world’s most technologically advanced aluminum rolling mill at a time when global capacity is significantly constrained. The new mill in Eastern Kentucky is projected to generate more than 1,000 constructions jobs, 550 full-time mill jobs and thousands of indirect jobs in the region.
About Braidy Industries, Inc.
Braidy Industries, Inc. was formed to lead a national transformation in the manufacture and use of efficient, eco-friendly metal alloys that are lighter and stronger than metals currently in commercial use. The Company’s first project, the construction of Braidy Atlas aluminum rolling mill, a state-of-the-art low-emissions greenfield manufacturing facility at EastPark Industrial Center in Ashland, Kentucky, will position the Company as the low-cost provider of 300,000 annual tons of production-ready series 3000, 5000 and 6000 aluminum sheet for the automotive and beverage can industries. Braidy subsidiary, NanoAl LLC is a world leader in the science of nanocrystalline technology applied to aluminum. For more information, visit www.braidy.com