This Morning in Metals: U.S. Steel layoffs; Braidy needs $500M; Aluminum Association announces new leader

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This morning in metals news, U.S. Steel recently underwent another round of layoffs, Braidy Industries‘ new CEO said the company still needs $500 million for its Kentucky aluminum mill, and the Aluminum Association announced its new president and CEO.

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U.S. Steel layoffs

There has been another round of layoffs at U.S. Steel, the Times of Northwest Indiana reported, this time impacting workers at its Gary Works mill and Midwest Plant.

The steelmaker posted a full-year 2019 net loss of $642 million.

CEO: Braidy needs additional $500M

The recently appointed CEO of Kentucky’s Braidy Industries told lawmakers the company still needs to raise $500 million in funds to begin construction on a planned aluminum mill in the state, WDRB reported.

The firm has been a source of controversy, particularly with respect to Russian aluminum giant Rusal’s stake in the Kentucky company by virtue of a $200 million investment.

Aluminum Association announces new president, CEO

The longtime head of the American Composites Manufacturers Association (ACMA) will take over as president and CEO of the Aluminum Association next month.

Tom Dobbins, who led ACMA for 13 years, will assume the roles with the Aluminum Association on March 16.

“I’m thrilled to be taking on this new role during an incredibly important time for the U.S. aluminum industry,” Dobbins said in a prepared statement. “The Aluminum Association has a proud legacy as one of the leading voices for the materials manufacturing sector in Washington and beyond. I look forward to taking on a leadership role as the team continues to execute on the recently developed Aluminum Agenda – from policy advocacy to supporting market growth to industry-leading research and data on sustainability and other issues.”

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Last June, Heidi Brock announced her resignation as president and CEO after eight years with the Aluminum Association.

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