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Business & Economy

Braidy Industries Breaks Silence To Name Investors

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WIKIMEDIA COMMONS, PUBLIC DOMAIN
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  An aluminum company planning a state-subsidized $1.3 billion facility in Greenup County has released the names of its shareholders. Braidy Industries had been keeping those identities a secret.

Braidy Industries released the names of its investors over the weekend. The move came after the Courier Journal requested a list of investors and shareholders.

That request was partially denied. The list the paper received showed only two previously known owners, with the rest of the names blacked out.

Attorney General Andy Beshear ruled in October that the Kentucky Cabinet for Economic Development violated the state’s open records law by not releasing the investors’ names. Beshear’s ruling was appealed and the case is ongoing.

The Courier-Journal reports the state became a 20% owner of the planned Greenup County aluminum mill after directly investing $15 million. Private companies are not required to divulge their investors.

Braidy industries plans to break ground on the facility in April. It’s expected to create more than 550 permanent jobs and about one-thousand construction jobs.

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