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Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Sun Dec 22, 2024 8:24 am
by Jesla
Danke wrote: ↑Sat Dec 21, 2024 6:11 pm
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.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Mon Dec 23, 2024 8:30 pm
by 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?
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Mon Dec 23, 2024 10:55 pm
by msum
Does this heavily impact Niagara Specialty Metals also?
I’m assuming they are two separate entities, despite the obvious connections.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Tue Dec 24, 2024 5:46 am
by Jesla
msum wrote: ↑Mon Dec 23, 2024 10:55 pm
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.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Wed Dec 25, 2024 12:33 pm
by SpeedHoles
This is wild news, definitely didn't expect to see this discussion on here...
So many questions... A lot of companies currently struggling
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Thu Dec 26, 2024 11:59 am
by Landshark99
WilliamMunny wrote: ↑Fri Dec 20, 2024 3:44 am
sal wrote: ↑Fri Dec 20, 2024 12:12 am
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
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Thu Dec 26, 2024 9:06 pm
by Pokey
Ace Hardware sells Craftsman tools, too.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Dec 27, 2024 6:46 am
by Philo Beddoe
Deadboxhero wrote: ↑Wed Dec 18, 2024 8:37 am
WilliamMunny wrote: ↑Wed Dec 18, 2024 8:32 am
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..
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Sat Jan 04, 2025 8:42 am
by vanka
Last thing I heard is that Erasteel is acquiring Crucible. I don't know if the deal went through.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Sat Jan 04, 2025 9:16 am
by bandaidman
Crucible is auctioning their plant and assets next month. I believe the Erasteel offer is the initial bid for those assets
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Sat Jan 04, 2025 12:04 pm
by Deadboxhero
Larrin shared an article and video on Patreon.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 8:07 am
by 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
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 8:10 am
by 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.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 8:40 am
by 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.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 8:42 am
by WilliamMunny
Deadboxhero wrote: ↑Fri Jan 17, 2025 8:07 am
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.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 8:55 am
by Deadboxhero
WilliamMunny wrote: ↑Fri Jan 17, 2025 8:42 am
Deadboxhero wrote: ↑Fri Jan 17, 2025 8:07 am
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.
WilliamMunny wrote: ↑Fri Jan 17, 2025 8:42 am
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.
WilliamMunny wrote: ↑Fri Jan 17, 2025 8:42 am
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.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 9:06 am
by Danke
Run on CMP Steel?
Me after buying a Rex 121 Sage
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 9:16 am
by SpeedHoles
Fudge.
Major implications here.
Even if I win the lottery by February, I don't think the payout would hit soon enough...
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 9:25 am
by 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.
Re: Crucible Industries declares Chapter 11 bankruptcy
Posted: Fri Jan 17, 2025 9:34 am
by Deadboxhero
Scandi Grind wrote: ↑Fri Jan 17, 2025 9:25 am
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.