Crucible Speciality Metals potentially closing?

[GarageBoy]

https://www.syracuse.com/news/2024/12/c ... -jobs.html

Is this their only plant?

[Deadboxhero]

https://www.bladeforums.com/threads/cru ... t-22888946

[p_atrick]

Can somebody explain the relationship between Crucible and Niagara? Niagara buys from Crucible, processes the steel in some way, and then sells to companies (like Spyderco) and individuals (custom makers). Is that right?

[RustyIron]

So if you want that Spyderco with the CPM-xxx steel, it might be a good idea to throw down the cash and grab one while you still can.

Perhaps the company will reorganize. Or maybe they'll sell to other investors who will keep the operation rolling.

[GarageBoy]

What does it mean for the proprietary crucible steels? I'm guessing worst case the formulations get sold off and someone else can then make these alloys?

[Deadboxhero]

Can somebody explain the relationship between Crucible and Niagara? Niagara buys from Crucible, processes the steel in some way, and then sells to companies (like Spyderco) and individuals (custom makers). Is that right?

Image: MagnaCut billets as received from Crucible


From Crucible the steel is a giant billet. It is not usable.

It needs further processing.

It is bought by NSM (rolling mill/distributor) and processed further with hot roll forging down to useable sizes, annealing, cutting, packaging and shipping to knife manufacturers and suppliers.

[p_atrick]

Thanks Shawn!

[VashHash]

One knife dealer did a video about Niagara once. They commented about the stock being stored outside with little security and they made a joke about people stealing it. The Niagara employee stated that it would take a serious operation to steal the billets because they were several tons each.

[Wandering_About]

We'll see how this round goes, but Crucible also filed for bankruptcy in 2009 if I recall correctly.

[riclaw]

Why are they filing for bankruptcy? They have a popular product.

[RustyIron]

The dustbin of history is filled with companies who had popular products.
Reasons for bankruptcy can be numerous:

Financial mismanagement
poor budgeting, excessive spending

Debt burden
high levels of debt, unfavorable loan terms

Operational Inefficiency
Inefficient processes, excessive overhead costs

Legal/Regulatory challenges
lawsuits, fines, compliance costs

Poor management decisions
expanding too quickly, entering wrong markets, misjudging customer needs

[TkoK83Spy]

I work less than a mile from Crucible, guess I've got to go banging on some doors and get some answers!

[gooeytek]

I sure hope not. I need S90V in my life, and CTS-20CP isn't really available

[Naperville]

This is really bad news for all involved. I hope that Crucible can stay in business.

Maybe Sal can order some steel for future needs, but when that steel is exhausted, then what?

[Ramonade]

Then Bohler becomes Brawndo !

PS : Hope they manage to correct the course for all the people involved.

[Evil D]

Well I've done my part, the vast majority of my knives have a CPM something steel.

[Mrj]

I work less than a mile from Crucible, guess I've got to go banging on some doors and get some answers!

Don’t forget the pitch fork and torch. I’m on my way! We need to get to the bottom of this asap.

[sovereign]

Maybe Spyderco can buy Crucible? Vertical integration.

[Brock O Lee]

Well I've done my part, the vast majority of my knives have a CPM something steel.

Truth. Their financial woes is not on me. I sleep like a baby.

[Dnwrghtsr]

Maybe Spyderco can buy Crucible? Vertical integration.

If I remember correctly that did not end well for him.