Braidy Industries Acquires Powder-Metallurgy Provider
Braidy Industries finalized its acquisition of 100% of the outstanding equity of MIT-incubated ultrahigh-strength alloy and powder-metallurgy provider Veloxint. The manufacturing base for Veloxint will be co-located with Braidy Industries’ aluminum rolling mill in Ashland, Ky. Veloxint’s research and prototyping facilities will continue to be located in the Boston area and will be expanded in scope.
According to Braidy Industries, the acquisition places it in position to meet the demands and challenges of a transportation industry in need of cost-effective lightweighting. Veloxint expects to begin staffing advanced-manufacturing positions and will incorporate its training program in collaboration with Ashland Community and Technical College into the Braidy Industries Advanced Manufacturing Degree Program.