Crucible Industries declares Chapter 11 bankruptcy

[Jesla]

For a heavy industrial site that place looks super clean.

I agree those were some of the cleanest work site and conditions I have ever seen.

Some place I worked at in the ‘80’s and ‘90’s, glass factories(these were the worst), grain processing and chemical plants were absolutely filthy. Often had to clean every tool… and me before getting back in my service truck. Industrial mechanic….

It was quite the shock in the late ‘90’s when I transitioned into computers and went home every day nearly as clean as when I went to work.

[SpyderEdgeForever]

Going forward, what about the possibility of the government giving Crucible a financial bailout like they did for the banks, as a sortof protection for an American foundational company, in the name of protecting national interests? They produce steel which is needed for national defense. I know some would object to this because they are understandably skeptical of too much government help. But if Crucible can be saved and continue, that would be good. But can this be achieved?

[msum]

Does this heavily impact Niagara Specialty Metals also?

I’m assuming they are two separate entities, despite the obvious connections.

[Jesla]

Does this heavily impact Niagara Specialty Metals also?

I’m assuming they are two separate entities, despite the obvious connections.

Totally against any government bailouts… for anything.

Don’t care for presidential pardons and commutations either.

I used to bleed Chevrolet orange…. The government bailouts out for them(GM) and Chrysler proved disastrous to both companies.

Now I bleed S110v…. I don’t want them to fall to government bailouts and the resulting disaster…. Just let things run their course…. It’s better that way in the long run.

[SpeedHoles]

This is wild news, definitely didn't expect to see this discussion on here...

So many questions... A lot of companies currently struggling

[Landshark99]

Hi RustyIron,



It’s not much different than when Lowe’s bought Craftsman. People trusted the brand and Lowe’s knew it would widen their customer base and turn into an additional revenue stream.

Just an FYI Lowe's did not buy Craftsman, Stanley Black & Decker did and they gave Lowe's the exclusive to sell Craftsman

[Pokey]

Ace Hardware sells Craftsman tools, too.

[Philo Beddoe]

I think all the forum members should all just chip in and buy it.

+20 million, no biggie.

Maybe Elon M is a member? Would be pocket change to him..

[vanka]

Last thing I heard is that Erasteel is acquiring Crucible. I don't know if the deal went through.

[bandaidman]

Crucible is auctioning their plant and assets next month. I believe the Erasteel offer is the initial bid for those assets

[Deadboxhero]

Larrin shared an article and video on Patreon.

[Deadboxhero]

Bad News



Erasteel has no plans to reorganize Crucible and keep the mill running or employ the 170 employees.


Erasteel is going to liquidate Crucible and take the intellectual property.

The bidding process has been extended by two weeks. Crucible is hoping to get another bidder that will not liquidate.

Unfortunately, Crucible does not have much time to look for new bidders.

Crucible Industries LLC will be out of money to operate sometime this February.

https://www.syracuse.com/business/2025/ ... utType=amp

[Infinite Zero]

Oh no.

I’m really hoping that the intellectual property of SPY27 and Magnacut belong to Spyderco and Larrin respectively. Either way, this is a big loss, but at least this way, those steels would have a future.

[Red Leader]

I'm bummed to hear of this, mainly due to the fact that I don't like hearing the prospect of any of our fellow Americans losing their jobs. Second to that, that so much of what I've come to appreciate about the knife community centers around Crucible's involvement in this industry.

[WilliamMunny]

Bad News



Erasteel has no plans to reorganize Crucible and keep the mill running or employee the 170 employees.


Erasteel is going to liquidate Crucible and take the intellectual property.

The bidding process has been extended by two weeks. Crucible is hoping to get another bidder that will not liquidate.

Unfortunately, Crucible does not have much time to look for new bidders.

Crucible Industries LLC will be out of money to operate sometime this February.

https://www.syracuse.com/business/2025/ ... utType=amp

That really sucks, get your last steel orders in I guess. Also feel bad for all the employees and local community.

Do you think they will be a “run” on CPM steel knives as availability might go down?

If this is liquidated, how long of a pause on production of steels will this be? Even if they get their IP it’s not like they can produce the steel the next day.

[Deadboxhero]

Bad News



Erasteel has no plans to reorganize Crucible and keep the mill running or employee the 170 employees.


Erasteel is going to liquidate Crucible and take the intellectual property.

The bidding process has been extended by two weeks. Crucible is hoping to get another bidder that will not liquidate.

Unfortunately, Crucible does not have much time to look for new bidders.

Crucible Industries LLC will be out of money to operate sometime this February.

https://www.syracuse.com/business/2025/ ... utType=amp

That really sucks, get your last steel orders in I guess. Also feel bad for all the employees and local community.

NSM already has plans in place to mitigate to get any interruptions.

However, this is bad news for the american steel workers in Geddes, New York.

Do you think they will be a “run” on CPM steel knives as availability might go down?

I don't know, however, as was outlined before Niagara Specialty Metals have put plans in place to keep the flow of materials.

If this is liquidated, how long of a pause on production of steels will this be? Even if they get their IP it’s not like they can produce the steel the next day.

Not sure, again, NSM has been working on duel sourcing materials.

[Danke]

Run on CMP Steel?

Me after buying a Rex 121 Sage

[SpeedHoles]

Fudge.

Major implications here.

Even if I win the lottery by February, I don't think the payout would hit soon enough...

[Scandi Grind]

In what country is Erasteel based? The biggest things that would disappoint me is losing a U.S. steel company and the effect on the employees and town where Crucible is located.

[Deadboxhero]

In what country is Erasteel based? The biggest things that would disappoint me is losing a U.S. steel company and the effect on the employees and town where Crucible is located.

An international company, Swedish lineage, based in France, PM steels made in Sweden.