The global aluminum company formerly known as Braidy Industries announced a new name. Introduced as Unity Aluminum, the Ashland, Ky.-based company will continue to play a leading role in the aluminum industry by addressing a substantial global aluminum shortage impacting American jobs and economic growth. The new name signifies the company’s steadfast commitment to its customers, innovative technologies and local community in Ashland. Unity Aluminum has accelerated its plans to build the world’s most technologically advanced aluminum rolling mill. It is currently working to finalize fundraising and begin construction.

Recent market assessments indicate a domestic shortage of 2.6 million metric tons of aluminum, and the average age of domestic facilities is approximately 70 years old. Using a low-emissions greenfield manufacturing facility at EastPark Industrial Center in Ashland, Unity Aluminum is positioned to fill the domestic shortage and become a provider of 330,000 annual tons of production-ready series 3000, 5000 and 6000 aluminum sheet for the automotive, transportation and distribution markets. Future opportunities are also available in the rapidly growing beverage can market.

The company’s first project, a mill in eastern Kentucky, is projected to generate more than 1,000 construction jobs, 550 full-time mill jobs and thousands of indirect jobs and additional investments in the region.