Press Release

Due Diligence Identified Risk of Project Delay

Braidy Industries Will Move Forward to Qualify a Second, Nearby Site.

FOR IMMEDIATE RELEASE

Ashland, KY –- October 16, 2017 — Braidy Industries announced today that it is moving forward with plans to qualify a site location of its aluminum mill in Greenup County, Kentucky.

“In our diligence efforts, we discovered a risk that our peculiar needs for deep foundations for the mill could not be met without incurring material delays to our planned ground breaking in the second quarter of 2018.” said Braidy Industries’ Executive Vice President of Engineering, Alan Blankshain. “Our site will ultimately have to sustain the type of deep-bore foundations necessary to support massive equipment and the processes required to manufacture high quality automotive and Aero-space aluminum.”

The company is negotiating to purchase a large site in the EastPark Industrial Center. EastPark is connected to a port on the Ohio River in Wurtland, Kentucky and is located where interstate 64 and KY 67 connect. Rail access is in close proximity. Importantly, its next-door neighbor in EastPark will be the Ashland Community Technical College which is co-developing a Braidy Industries two year Associates Degree program with the company.

Braidy Industries Chairman and CEO, Craig T. Bouchard said of the development, “We will accept no risk of a slowdown to our ground-breaking process. The Braidy mill project is key to regional economic development and a dramatic improvement of the labor participation rate in the 5-county area. Avoidable delays are not acceptable when so many families want to get back to work. The Kentucky Community and Technical College System is a critical component to our securing and training top flight talent. We are very fortunate to have an opportunity to co-locate with
KCTCS.”

About Braidy Industries, Inc:
Braidy Industries is a future-leaning advanced manufacturer of metals for the global transportation and defense industries. The company’s first project, the construction of a greenfield aluminum rolling mill in Greenup County, Kentucky, will position the company as the low-cost provider of 370,000 annual tons of production-ready series 5000, 6000 and 7000 aluminum sheet and plate for the automotive and aerospace industries.

CONTACT
Jaunique Sealey
(606) 575-3121
jsealey@braidyindustries.com