Crucible Industries Update

I know it has been said other steel makers offer steels that CPM makes which I think we all are familiar with a majority of these but the question I have is really for one specific steel our new friend Magnacut I am yet aware of a steel made from anyone else that is the same as it so do we know what will happen to that steel or where it will go?
 
PirateSeulb said:
I know it has been said other steel makers offer steels that CPM makes which I think we all are familiar with a majority of these but the question I have is really for one specific steel our new friend Magnacut I am yet aware of a steel made from anyone else that is the same as it so do we know what will happen to that steel or where it will go?
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No need for worry.

I don't think that level of transparency is going to be available at this time for reasons important to the various concerns and players involved, but my understanding is that it will still be available. (Of course nsm nsm or others in the know may choose to provide info as they are comfortable doing so, going forward.)

I think we will need to be patient as the matter gets resolved over the coming weeks and months.
 
Magnacut is an interesting question. Depends on the deal Larrin, Crucible, and Niagra worked out on the intellectual properties. Larrin developed it independently, so Crucible would not automatically own the composition unless Larrin sold it to them.

Add: That's Larrin's personal business and I will not stick my nose into it.
 
I understand and just looking to clarify that I hadn't missed an "alternate" version by another maker coming out already. I understand that this steel and details about its future are help by two or more of the parties originally involved in its creation. I don't expect any answer at this time from those parties but if there is any light on it they can and would like to share it would be nice to know.
 
Huntsman Knife Co. LLC. said:
Could we organize a Go Fund Me or similar? Every single one of us on this forum has used steel that has passed through the hands of the workers at Crucible. Losing them cannot be an option for the knife industry or enthusiasts.
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I agree and I’d be happy to contribute.
 
Unless multiple people have several hundred thousand apiece to contribute, I don't see a go-fund-me doing any good. I'm sure the issues extend beyond the current tax bill.
 
knarfeng said:
Unless multiple people have several hundred thousand apiece to contribute, I don't see a go-fund-me doing any good. I'm sure the issues extend beyond the current tax bill.
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I'd be willing to bet multi millions of dollars wouldn't make much of a dent.....

agreed. the unpaid property taxes are just public information which is why that local news article could post it. I posted it to show a go fund me wouldn't even be able to help on that let alone the actual financial troubles the company has currently. the actual books and exact amount of debts, cash flow, etc aren't public knowledge...and that's where the real trouble is......when upper management states possible chapter 11 and a sale of the company is needed to survive.
 
Maximumbob54 said:
I have to assume the knife industry alone isn't what makes up the bulk of Crucible's sales. There's been enough new CPM-ABC123 in the last decade alone that I would think they should be rolling in knife sales money. Which obviously they are not. I wonder where their real money comes from. Or rather used to come from.
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I believe it depends primarily on the automotive industry for sales, which is not exactly growing in the US.
 
I wonder what's really going on behind the scenes... I mean, how badly do you mismanage a company to bankrupt it after 100 years in business?? Its not like they make typewriters and got overtaken by computers. They make an in-demand product used across a number of industries, including automotive, cutlery, aerospace, and machine tools. Did they hire finance and/or tech bros to run the place?
 
axtalan0 said:
I wonder what's really going on behind the scenes... I mean, how badly do you mismanage a company to bankrupt it after 100 years in business?? Its not like they make typewriters and got overtaken by computers. They make an in-demand product used across a number of industries, including automotive, cutlery, aerospace, and machine tools. Did they hire finance and/or tech bros to run the place?
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mismanagement is highly unlikely to have anything to do with it. The business climate has been challenging across the US steel industry for many years now. There are a LOT of steel companies which have disappeared from the scene. Some have merged or been bought out. Others have just gone bankrupt. Crucible did not make the type of steel used in the automotive industry. They are used for tooling and special purposes. As industry has left the US, so has the need for those special steels.
 
My concern is the workers and their families. Dad's business had to shut down when we were kids, and I wouldn't wish the same loss of livelihood on any family.
 
In the industry I work in we used to source a material all in the US.
Then covid happened. Without going into politics, many industries shut down during.
We had to start sourcing some, maybe Half outside the US.

All these "little things" add up......
 
lambertiana said:
20CV is not the same as 20CP. 20CP is pretty similar to S90V. I wouldn't mind getting my hands on a 20CP blade, given that S90V is one of my favorites.
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From what I have been reading the Carpenter designation of CTS 20CP has been replaced with CTS 420CW Mod. Ya'll know my affinity for S90V, looking at the data sheets for 420CW, it is essentially the same (as was 20CP). Carpenter's website no longer makes mention of CTS 20CP.


CPM S90V = CTS 20CP = (replaced by) CTS 420CW Mod

edit to add: CPM 20CV = CTS 204P = M390
 
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knarfeng said:
mismanagement is highly unlikely to have anything to do with it. The business climate has been challenging across the US steel industry for many years now. There are a LOT of steel companies which have disappeared from the scene. Some have merged or been bought out. Others have just gone bankrupt. Crucible did not make the type of steel used in the automotive industry. They are used for tooling and special purposes. As industry has left the US, so has the need for those special steels.
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Something I alluded to in another thread recently, there are many many factors that impact whether a business is successful or not. You have supply and demand forces, macro economics, industry specific trends and changes, international influences, inflationary pressures, etc.
To run a successful business and keep it going for the long term requires staying in a good place in the supply and demand curve (which by the way are almost completely out of a companies control) and being able to be efficient enough to hold off competition while still maintaining a sustainable level of profitability. As we find more and more companies making steels, materials, knives, etc. eventually supply and demand kick in and only the most efficient companies who can manage to stay competitive and manage their businesses well, or have some competitive advantage over others will make it long term. Again, not to say that Crucible was mismanaged or inefficient, but keeping a business viable also requires a great deal of luck due to the many factors that are beyond an individual company's control.
 
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