Beshear Releases Sought-After Braidy Industries Documents

Jan 10, 2020

Gov. Andy Beshear has released documents related to Kentucky’s investment in Braidy Industries. The materials had been the subject on an ongoing court battle between the previous administration and the Louisville Courier Journal.

Credit AP Photo/Adam Beam

The Journal had sought the release of documents pertaining to Braidy Industries following revelations that formerly blacklisted Russian aluminum company RUSAL planned to take a 40 percent stake in a proposed Braidy aluminum mill in Ashland, Kentucky. But former Gov. Matt Bevin’s administration refused to turn them over.  

The deal had raised eyebrows in Washington, prompting questions about whether discussions about the Russian company’s investment in the plant occurred before the U.S. Treasury Department lifted sanctions on the company last January. The Trump administration rolled back the sanctions after the company’s co-owner, alleged to have close ties to Russian President Vladamir Putin, reduced his stake in Rusal.

The documents released Friday include a letter of intent regarding Kentucky’s $15 million investment, along with stock purchase, voting, and investors’ rights agreements. The materials also include the names of those invested in Braidy Industries.

This is a developing story.