ASHLAND, Ky.--(BUSINESS WIRE)--Braidy Industries today announced that Don Foster has been appointed Acting President and Chief Executive Officer of the company. Foster’s successful career spans more than 40 years and gives Braidy Industries executive level expertise in global metals, infrastructure and construction, and capital projects. He will continue to serve as CEO of BridgeConsulting LLC. Foster previously served as an officer of both United States Steel Corporation, a Fortune 500 company, and the L.B. Foster Company, a NASDAQ listed firm. In addition, he is a board-certified Governance Fellow and a member of the Private Directors Association.
“Braidy Industries is the future of aluminum, and there is no one better to lead the team than an experienced professional like Don Foster,” said Braidy Industries Chairman Charles Price. “Don has more than 40 years in the industry and is a proven, successful metals executive with a history of profitable business development and large project experience.”
Braidy’s leadership team will now 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 construction jobs, 550 full-time mill jobs and thousands of indirect jobs in the region.
“The business case for this project is strong, and I’m honored to be a part of it,” said Don Foster, President and CEO of Braidy Industries. “Braidy’s state-of-the-art mill is being engineered with proven, world class technology and our team of motivated aluminum experts are going to get it built. It is essential to the North American automotive industry supply chain and vital to the economy of Eastern Kentucky.”
“The Board of Directors have worked very hard and are dedicated to see this project to fruition,” added Chairman Price. “Don Foster is ready to lead our team, including management in Ashland and consultants like BridgeConsulting, forward on the goal at hand—to finalize the fundraising and build the Braidy mill.”
Braidy Industries is supported by BridgeConsulting, a wholly-owned subsidiary of Metals Bridge, LLC. whom through a 50/50 joint venture with Nippon Steel Trading previously entered into a long term ‘take or pay’ agreement, subject to definitive documentation, to a) purchase 50,000 metric tons of aluminum annually, b) provide IT and management systems and c) provide Structured Trade Finance and Working Capital Solutions anticipated to peak at $500 million once Braidy is operating at full capacity.
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’s newest subsidiary, NanoAl LLC is a world leader in the science of nanocrystalline technology applied to aluminum. For more information, visit www.braidy.com