Crucible Industries declares Chapter 11 bankruptcy

[Scandi Grind]

I see, so no more Crucible recipes would be made on U.S. soil I take it. That would be a bummer.

[RustyIron]

I see, so no more Crucible recipes would be made on U.S. soil I take it.

Why not?

[Scandi Grind]

I assume that if Erasteel liquidates Crucible's physical assets, and they are currently manufactering their PM steels in Sweden, then the Crucible steels will start new production in Erasteel's Swedish factories.

[p_atrick]

Oh man, I was really hoping that a better solution could have been found for those workers at Crucible.

[ratthew]

I assume that if Erasteel liquidates Crucible's physical assets, and they are currently manufactering their PM steels in Sweden, then the Crucible steels will start new production in Erasteel's Swedish factories.

It's my understanding that unless the steel recipe is still patent-protected there is nothing legally speaking stopping another manufacturer, American or otherwise, from making a chemically identical steel under a different name. Dr. Larrin's article on the bankruptcy makes it sounds like S110V is the only really notable CPM steel still under patent protection, until 2028.

[Scandi Grind]

Well that would be nice at least. I don't know whether anyone will, or if anybody already is for that matter. It would be under a different name so I guess I wouldn't even know if I was looking at a chemically identical steel to a Crucible product unless I had the compositions to compare.

[vanka]

I assume that if Erasteel liquidates Crucible's physical assets, and they are currently manufactering their PM steels in Sweden, then the Crucible steels will start new production in Erasteel's Swedish factories.

It's my understanding that unless the steel recipe is still patent-protected there is nothing legally speaking stopping another manufacturer, American or otherwise, from making a chemically identical steel under a different name. Dr. Larrin's article on the bankruptcy makes it sounds like S110V is the only really notable CPM steel still under patent protection, until 2028.

It's not about the chemistry of the steel. All the specs are widely available to see the chemical composition. There's a lot more involved in the making. The old term 'know how'. That's what Erasteel is buying.

[SpeedHoles]

I assume that if Erasteel liquidates Crucible's physical assets, and they are currently manufactering their PM steels in Sweden, then the Crucible steels will start new production in Erasteel's Swedish factories.

It's my understanding that unless the steel recipe is still patent-protected there is nothing legally speaking stopping another manufacturer, American or otherwise, from making a chemically identical steel under a different name. Dr. Larrin's article on the bankruptcy makes it sounds like S110V is the only really notable CPM steel still under patent protection, until 2028.

Ever use a knife that says it's "D2", but you're questioning that...? Yeah there's a lot of questionable ones out there.

So, that could be the potential future here, but with many of the previous steels we thought we became accustomed to as familiar from CPM, but then you question who or how it is now processed and heat treated, etc... but still labeled the same.

[RustyIron]

I assume that if Erasteel liquidates Crucible's physical assets,

You think they'll close it down.
I think they'll keep it operational.
Do we have a gentleman's bet?
In fact, if you win, I'll buy you a beer if there ever comes
a day when you dare venture behind the Orange Curtain.

[ratthew]

I assume that if Erasteel liquidates Crucible's physical assets, and they are currently manufactering their PM steels in Sweden, then the Crucible steels will start new production in Erasteel's Swedish factories.

It's my understanding that unless the steel recipe is still patent-protected there is nothing legally speaking stopping another manufacturer, American or otherwise, from making a chemically identical steel under a different name. Dr. Larrin's article on the bankruptcy makes it sounds like S110V is the only really notable CPM steel still under patent protection, until 2028.

Ever use a knife that says it's "D2", but you're questioning that...? Yeah there's a lot of questionable ones out there.

So, that could be the potential future here, but with many of the previous steels we thought we became accustomed to as familiar from CPM, but then you question who or how it is now processed and heat treated, etc... but still labeled the same.

I understand the worry, and I want to be clear that I really want to see Crucible pull through, but I personally don't have that worry with manufacturers like Carpenter, etc. that Niagara has contracted with for continuity in the event Crucible goes under. For example, I own knives in 20CV, M390, and 204P, and I don't notice any meaningful differences between the three steels. I would imagine the situation would be largely the same with CPM recipes being made by Carpenter, Böhler, or any other reputable steel manufacturer.

[Scandi Grind]

I assume that if Erasteel liquidates Crucible's physical assets,

You think they'll close it down.
I think they'll keep it operational.
Do we have a gentleman's bet?
In fact, if you win, I'll buy you a beer if there ever comes
a day when you dare venture behind the Orange Curtain.

Ha ha, I'm not a betting man, or a drinking man for that matter. I was really only going off of what Shawn had posted.

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.

[Deadboxhero]

I'll take a free beer off Rusty.

[Brock O Lee]

I'll take a free beer off Rusty.

Your confidence and the linked article nudged me to buy a CPM steel I did not yet own.

[RustyIron]

I'll take a free beer off Rusty.

You're on, Holmes.
While I defer to your expertise, I can't resist a long shot.

Y'know, for the ambitious scrounger, there might be some cool souvenirs to be found once all the useful stuff is sold off.

[Deadboxhero]

I'll take a free beer off Rusty.

You're on, Holmes.
While I defer to your expertise, I can't resist a long shot.

Well, I like a good stout when you get around to it

[Synov]

"does not intend to..."

[Deadboxhero]

"does not intend to..."

Lmao, hilarious.

[Deadboxhero]

Always makes me laugh

[sal]

Hi Ratthew,

Welcome to our forum.

sal

[jdw]

Since I know nothing about the steel industry, I wonder how far in advance orders are filled for a steel before it is actually made into a knife? Are companies like Spyderco sitting on a steel hoard from Crucible or are we going to see their steels disappear pretty quickly once they close their doors?