ASHLAND A New Year brings with it a new director at Unity Aluminum, according to a press announcement released by the company Monday.
Barry Schneider, who has served 25 years at Steel Dynamics Inc, joined the Unity Board of Directors effective Jan. 1, 2021.
Unity Chairman Charles Price welcomed Schneider to the board, stating “his hands-on experience in mill startups and management will translate into valuable governance and oversight for our shareholders.”
In the same press statement, Schneider said he’d been watching Unity closely and “am impressed by its strong projected financial returns as well as its environmental, social and governance aspects.”
The move is the latest news from Unity, which departed with its subsidiary Veloxint and former director John T. Preston at the tail-end of 2020. When Unity announced its rebranding from Braidy Industries in October 2020, CEO Don Foster told The Daily Independent the goal was to have a “line of sight on funds” by the end of 2020.
A Unity press agent said she could not disclose where the company is at on the funding, due to state and federal regulations.
Schneider is currently a senior vice president for Steel Dynamics Inc, one of the largest domestic producers of steel. According to the press announcement, Schneider was involved in the company’s first mill and seven more thereafter.
In fact, Schneider is overseeing the construction of a new flat-rolling steel plant in Sinton, Texas, according to the Steel Dynamic’s Website. The company’s latest quarterly report states that plant is on track for going online by the middle of this year.
Despite showing a depreciation in sales due to COVID-19, Steel Dynamic’s latest quarterly report shows strong financials — in August 2020, the company acquired a scrap metal company in Mexico to source iron products to the new Texas plant.
Folks in the area might recognize Steel Dynamic — the company owns Steel of West Virginia in Huntington.
Foster said Schneider’s experience in overseeing mill construction is “extremely beneficial to our efforts.”