Some were even forced to close their doors due to the lack of customers in the area. Braidy Industries still needs to raise $500 million to build a long-promised $1.7 billion aluminum plant in Appalachia, a top company executive told Kentucky lawmakers First Republic in Limbo as US Regulators Juggle Bank's Fate, 'Waste of Time': Community College Transfers Derail Students, Rising Mississippi River Continuing to Test Flood Defenses. The long-delayed aluminum plant project near Ashland, Kentucky is facing another setback. HAWESVILLE, Ky. (AP) A large aluminum plant in Kentucky is temporarily halting production and laying off more than 600 workers due to rising energy costs. We also spoke with several local business owners who were affected by the closure of the aluminum plant. Russian tycoon Oleg Deripaska speaks to the media outside his carmaker GAZ plant in Nizhny Novgorod on April 16, 2019. "Taken as a whole, Manafort's high-level access and willingness to share information with individuals closely affiliated with the Russianintelligence services, particularly Kilimnik and associates of Oleg Deripaska, represented a grave counterintelligence threat," it also says. The closure of the aluminum plant had a significant economic impact on the local community. Our current awesome (D) Governor got that money back in September. In the small town of Greenville, Kentucky, sits a large aluminum plant that was once a major employer in the area. Braidy Industries became a hotly debated company two years ago when then-Gov. Some argued that the plants owners had failed to invest adequately in the facility, while others blamed the government for not providing enough incentives for businesses to remain in the area. Ive been very concerned about it for a while. McConnell Said No to Money for Miners, Yes to Russian-Backed Century Aluminum has announced plans to shut down its Hawesville smelter for nine to 12 months starting in August. that is degrading to another person. They are still excited about the project and expect it to be built, expect it to be completed. Click here to stay informed and subscribe to Herald-Dispatch. Century Aluminum said the Hawesville plant is its largest "U.S. smelter and the largest producer of high purity primary aluminum in North America.". In a statement, the company says the plant idling is The plant had been releasing pollutants into the air and water for decades, and the closure did nothing to address these issues. The closure of the aluminum plant also had environmental implications. We are still working on it, Gibbs said. Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox. With a Putinesque smile, Rusal explains itssuspendingits investment in theboondoggleproject while it waits for other partners to raise funds. All rights reserved. On Friday, it turned bizarre. Your email address will not be published. | Understanding the Risks and Benefits of Switching to an Aluminum-Free Deodorant, Exploring the Benefits of 80/20 Aluminum for Construction Projects. This, in turn, resulted in a decrease in consumer spending, as people no longer had the means to purchase goods and services. Bevin asked us to do that has not come to fruition. United Co. Rusal International PJSC announced the move on Unity Aluminum, formerly known as Braidy Industries, in a call on Wednesday. An email message containing instructions on how to reset your password has been sent to the e-mail address listed on your account. Also on Monday, the public affairs company Mercury, which was hired by British Lord Gregory Barker to lobby for the oligarch's companies to be removed from the U.S. sanctions list, filed a letter under the Foreign Agents Registration Act describing how "the Barker plan permanently removed Oleg Deripaska from control" of his companies EN+ and Rusal. The company planned to have the mill open in 2020, but underwent a management shakeup and name change in its long and ultimately unsuccessful quest to raise sufficient capital to proceed. It also asked about the status of Rusal'sinvestment in the mill, whether Braidy intends to continue its business relationship with that firm, and how Braidy's efforts to secure financing for the mill are proceeding. Kentucky Gov. Beshear calls for deep dive into aluminum - WSAZ A fence that cost more than $100,000 was erected in late 2019 around the site where the company formerly called Braidy Industries hoped to build an aluminum mill Have the latest local news delivered every afternoon so you don't miss out on updates. The county's judge-executive, Johnny Roberts, told the newspaper the company gave him no assurances the plant would reopen after that. A large aluminum plant in Kentucky is temporarily halting production and laying off more than 600 workers due to rising energy costs. "The Committee found that Manafort's presence on the Campaign and proximity to Trump created opportunities for Russian intelligence services to exert influence over, and acquire confidential information on, the Trump Campaign," the report says. By Herald-Leader readers. Still, analysts have expressed concern that Deripaska, who was sanctioned in April 2018 for attempting to meddle in the U.S. elections, may still wield influence over his companies from behind the scenes. McConnell was among the advocates for lifting sanctions on Rusal, arguing that the deal with Treasury would maintain pressure on Deripaska personally without disrupting global aluminum supplies. My sole focus is rebuilding Ashland and NEK. Your e-mail address will be used to confirm your account. Instead, the people of Kentucky got nothing. Save my name, email, and website in this browser for the next time I comment. The Board and CEO Tom Modrowski are committed to the Ashland community and focused on building the Kentucky mill.. Now, state lawmakers are trying to figure out how to recoup taxpayer money, in case the project never gets off the ground. Jason has a Bachelors Degree in Political Science. Many of the former employees were unable to find work elsewhere and had to leave the area in search of employment. John believes that the closure of the plant was inevitable and that the decision was made by the companys board of directors. In fact, the pollutants are still being released into the environment, posing a risk to the health of the local population. Until it gets built, you always have to have concerns, he said. Employees learned of the pending layoffs on Wednesday. The company said it will own more than 94% of the facility through a joint venture arrangement with Unity Aluminum, formerly known as Braidy Industries. Craig.. accounts, the history behind an article. The plant, with about 628 workers, is the second-largest employer in Hancock County, the Owensboro Messenger-Inquirer reported. His graduate work focused on public policy, with a specialization in social reform movements. What Happened to the Aluminum Plant in Kentucky? A Look at the Steel Dynamics did not respond to emails and calls seeking comment on where its new mill would be located. person will not be tolerated. See latest map, NFL Draft: Reaction to Tennessee Titans taking Kentucky quarterback Will Levis, After being drafted by Commanders, Chris Rodriguez knows his mom would be proud. Stay informed daily on the latest news and advice on COVID-19 from the editors at U.S. News & World Report. A Russiancompany that has invested in Braidy Industries' planned aluminum rolling mill in Eastern Kentucky was identified as a proxy of the Kremlin in a new report the Senate Intelligence Committee released this week. And it points to Russian oligarch Oleg Deripaska a part-owner of Rusal, which is a major aluminum company that operates internationally as a key figure. Don't knowingly lie about anyone The companys bylaws appear to give Braidys Board of Directors the authority to remove its CEO or Chairman, with or without cause, with a 70 percent vote. or redistributed. I dont what their articles or bylaws are.. More:Braidy Industries would bring hope and opportunity back to Appalachia and Kentucky. Fortunately, there are solutions to mitigate the environmental impacts of the plants closure. "What did he know, and when did he know it? Several Democrats in Congress quickly expressed concern about the planned investment. The Russians said that they would build the largest aluminum plant in the United States in Kentucky. Copyright 2022 TheAssociated Press. Your purchase was successful, and you are now logged in. This content was created by a Daily Kos Community member. This is the name that will be displayed next to your photo for comments, blog posts, and more. Market data provided by Factset. Matt Bevin, but current Gov. Tribe to have last say. You've successfully subscribed to this newsletter! A large aluminum plant in Kentucky is temporarily halting production and laying off more than 600 workers due to rising energy costs. Our shady former (R) Governor was on that deal and sunk $15M KY tax dollars in it. The U.S. Senate voted down a measure opposing the plan to end thesanctions against Rusal and EN+ Group in January 2019. Support strong local journalism by subscribing today:courier-journal.com/subscribe. Submitting this form below will send a message to your email with a link to change your password. No racism, sexism or any sort of -ism Fox News Flash top headlines are here. So far, though, there have been no jobs, no funds and even more doubts. The best states in the U.S. come from coast to coast. what happened to the aluminum plant in kentucky As for Unitys role,Steel Dynamics said the plant will supply the beverage, automotive and common alloy industrial sectors. Both Stivers and Osborne said they did not know of any request from the company for more state assistance or why Bouchard stepped down. The deal was originally brokered under former Gov. Real-time updates and all local stories you want right in the palm of your hand. The company, though, doubled down on its decision Friday afternoon in a statement from Charles Price, who the company identified as the now-chairman of Braidys Board of Directors. Bloomberg News reported: The Russiancompany backing an aluminum project in Kentuckysaid its suspending The Unity spokesperson said the company will have a small ownership stake in the new project. There's a good end to that aluminum plant story at least. Top headlines:VA hospital let neighbor illegally decide veteran's fate, report says, Braidy which recently brought a new acting president and CEO, Don Foster, on board responded through a spokeswoman with the following statement: "Don Foster is hard at work every day, utilizing his expertise and expansive network built during his 40 years in the metals industry to finalize financing and build the mill in Ashland, KY.". "The embarrassment is just going to keep growing over this," Laura Harth, the campaign director at Safeguard Defenders, told Newsweek. Stivers, R-Manchester, said he was briefed Thursday about Bouchards move and was told that he was asked and amicably stepped down. Stivers did not say who briefed him. Don't Threaten. Barker is the executive chairman of Rusal and its parent company EN+. Sanctioned Russian Oligarch's Company to Invest Millions in New Asked if Bouchards move was driven by shareholders in the company, Stivers said he did not know. Kentucky The Senate committee's report, which examines Russian efforts to interfere in America's 2016 presidential election,says: "Deripaska's companies, including RUSAL, are proxies for the Kremlin, including for Russian government influence efforts, economic measures, and diplomatic relations.". By the next day, McConnell hadsuccessfully blocked the bill, despite the defection of 11 Republicans. The county's Judge-executive, Johnny Roberts, told the newspaper the company gave him no assurances the plant would reopen after that. Century Aluminum (NASDAQ:CENX) said on Wednesday it will closee its smelter in Hawesville, Kentucky, for 9-12 months as "a direct result of skyrocketing energy
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