what happened to the aluminum plant in kentucky

"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 miraculous $65 million investment materialized I wish I could say days, but its hours, really after Senate ex-Majority Leader, he-who-must-not-be-named Moscow, Mitch McConnell squashed new sanctions on Russia in January 2019. aluminum plant that is degrading to another person. An email message containing instructions on how to reset your password has been sent to the e-mail address listed on your account. The Russians have cut off the cash. Click here to stay informed and subscribe to Herald-Dispatch. Century Aluminum has announced plans to shut down its Hawesville smelter for 9 to 12 months starting in August. The plant along the Ohio River had recently increased production and in April announced an addition of 60 jobs. As for Unitys role,Steel Dynamics said the plant will supply the beverage, automotive and common alloy industrial sectors. So what changed? 2023 FOX News Network, LLC. He also noted that the plant was not able to keep up with the changing demands of the aluminum industry, which led to further financial losses. All rights reserved. By Herald-Leader readers. However, in 2019, the plant closed its doors for good, leaving many in the community wondering what happened. And McConnell told reportersin May 2019 that his decision to support lifting the sanctions was unrelated to "anything that might happen in my home state. According to a Bloomberg report, Rusal, the formerly blacklisted Russian company with a major stake in the 10-figure project, is suspending its investments while it awaits word that its U.S. partners have raised the necessary funds. The new aluminum plant, slated to be built in the home state of Senate Majority Leader Mitch McConnell, will be the biggest new aluminum plant constructed in the U.S. in decades. The materials had been the subject on an ongoing court, Conflicting accounts about the status of Braidy Industries CEO Craig Bouchard have led to confusion. Civil & Environmental Consultants wins aluminum-plant contract Matt Bevin, citing a desperate need for the hundreds of well-paying jobs the company promised to bring, invested $15 million of state money in the company, effectively making all taxpayers partial owners. Concerns magnified, particularly in Washington, when the Russian aluminum company Rusal promised to invest $200 million in the company. Bill orders Kentucky to recover $15 million in stalled The purpose of this article is to explore the He also referred The Courier Journal to a statement McConnell released Tuesday that praised the Senate Intelligence Committee's members for keeping their investigation "out of thepartisan spotlight and focused on the facts.". Gov Seeks to Salvage Aluminum Mill Deal Promised to Kentucky In the days since President Joe Biden formally launched his 2024 campaign, key members of the sprawling political coalition that lifted him over former President Donald Trump in 2020 are far from excited about the prospect of four more years. Our shady former (R) Governor was on that deal and sunk $15M KY tax dollars in it. Gov. The U.S. Senate voted down a measure opposing the plan to end thesanctions against Rusal and EN+ Group in January 2019. We want their jobs to be in Kentucky.. The controversial company, partially funded by Kentucky taxpayers and a Russian aluminum company previously blacklisted by the U.S. Government, left Kentuckys politicians befuddled Friday as its founder and the board of directors he appointed publicly battled for control of the company. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Exploring the Dangers of Microwaving Aluminum Foil. Senate Majority Leader Mitch McConnell, as well as Sen. Rand Paul, bothKentucky Republicans, voted against that attempt to keep the sanctions in place. Matt Bevins administration with Braidy Industries to bring jobs to the state. Party spokeswoman Marisa McNee said McConnell needs to publicly explain what he knows concerning how Rusalbecame a vital source of funds for a project that will be built in the state he has represented in Congress for decades. The effect of this was felt throughout the entire community, as the local economy suffered greatly. You dont need that. Century Aluminum has Earlier this month, The New York Times reported the Treasury Department had allowed around $78 million worth of company shares to be transferred to a trust fund belonging to Deripaska's children, despite a previous statement from Treasury Secretary Steve Mnuchin claiming that the oligarch's children would "in no way benefit" from sanctions relief. And three months later, Rusal announced plans for an extraordinary partnership with Bouchards company, providing $200 million in capital to buy a 40 percent stake in the new aluminum plant in Ashland, Ky. a project Gov. The Ashland Alliance is the chamber of commerce group representing Boyd and Greenup counties. Winds W at 10 to 20 mph. Aluminum "We celebrated that," said Andy Meserve, president of United Steelworkers Local 9423. 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. Kentucky gave a $15 million investment into the project in 2017 after Braidy Industries, now called Unity Aluminum, promised to build a massive aluminum mill near McConnell Said No to Money for Miners, Yes to Russian-Backed Tweets from https://twitter.com/heralddispatch/lists/hd-news-4. Rusal's decision to invest in Braidy's mill was announced in April 2019,a few months after the federal government lifted the sanctions against the Russian firm. Use the 'Report' link on By STEVE PEOPLES and ZEKE MILLER Cloudy with occasional rain showers. 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. Quotes displayed in real-time or delayed by at least 15 minutes. The Unity spokesperson said the company will have a small ownership stake in the new project. Threats of harming another 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. Beshear on Thursday said it will go down as the shadiest economic development deal in Kentuckys history.. He said that management was always looking for ways to cut costs and improve efficiency, but these efforts were ultimately unsuccessful in keeping the plant afloat. Kentucky Gov. There's a good end to that aluminum plant story at least. 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 Tuesday, July 19, 2022. Your account has been registered, and you are now logged in. What Happened to the Aluminum Plant in Kentucky? A Look at the BOWLING GREEN, Ky,, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Ball Corporation has chosen Bowling Green, Kentucky, as the location of the companys new aluminum end manufacturing facility. Steel Dynamics Inc. said this week that its board approved plans to move ahead with construction of the $1.9 billion plant, though it did not specify where other than to say it will be somewhere in the Southeast. Citing an "unprecedented rise in global energy prices," Century Aluminum in Kentucky announced they will be laying off 628 Hawesville Smelter employees starting August 5. A large aluminum plant in Kentucky is temporarily halting production and laying off more than 600 workers due to rising energy costs. Steelmaker moves ahead on effort to build plant in Southeast; Ky Kentucky aluminum plant cuts off production, lays off 600 workers No one would do business that way. 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. Employees learned of the pending layoffs on Wednesday. The Century Aluminum plant in Hawesville, Kentucky, is shutting down production due to rising energy costs. Don't Threaten. Everyone wants to see the project materialize, said Stivers, because it would be greatly helpful to a region that has lost AK Steel and will soon lose one of two hospitals. "Its time for Moscow Mitch to tell the truth to the people of Kentucky. Asked if Bouchards move was driven by shareholders in the company, Stivers said he did not know. However, in June, Century announced it was temporarily shutting down production at its largest U.S. plant, an aluminum smelter in nearby Hawesville, Kentucky. All rights reserved. Kentucky Aluminum Plant Idling, Laying off 600 Workers. Chance of rain 80%. However, in 2019, the plant closed its doors for good, leaving many in the community wondering what happened. Senate President Robert Stivers expressed concern Friday before Bouchards Facebook post, saying its been years and nothing has happened. U.S. Rep. Thomas Massie, who represents the district, said it was not good news. Copyright 2022 TheAssociated Press. See also:Kentucky planning to implement a $400 unemployment supplement. However, this investment was not enough to revive the plant, and production levels continued to decline. Andy Beshear made a pitch Thursday to Steel Dynamics, offering to show potential sites for the $1.9 billion plant to salvage a plan started by his predecessor. Jun 25, 2022. Meanwhile, at least one of the trustees that the Office of Foreign Assets Control appointed to ensure that Deripaska does not exercise influence on the company's board is linked to a law firm that has worked with the oligarch and his companies for years. On Thursday, Braidy Industries released a statement saying CEO and Board Chairman Craig Bouchard had stepped down. The Unity spokesperson said Wednesday that the state will recoup its investment when the deal with Steel Dynamics closes, and Steel Dynamics said Unity employees will provide expertise to the project. "The Board will be two-thirds/one-third independent of Deripaska, Deripaska will not receive any dividends for as long as he remains subject to sanctions, and the Company and its operations will remain under the scrutiny of U.S. regulators," the document reads. Your Herd from Herald-Dispatch Reach Manager. Why aluminum plants in the U.S. are far more polluting than some Surprise! Russia cancels Kentucky aluminum plant after Bloomberg News reported: The Russiancompany backing an aluminum project in Kentuckysaid its suspending The plant had been releasing pollutants into the air and water for decades, and the closure did nothing to address these issues. 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