Crucible Materials to be auctioned off September 21

Nathan the Machinist

Nathan the Machinist

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Bankrupt US specialty metals manufacturer Crucible Materials Corp plans to sell off about $500m in assets in a September 21 auction, according to documents filed with the US Bankruptcy Court
Carpenter Technology Corp. is hoping to purchase some of the assets of Crucible Materials Corp., which filed for bankruptcy protection earlier this year, with the company willing to pay up to $20 million for its compaction and research divisions, according to court documents.

The rest of Syracuse, N.Y.-based Crucible will be up for bid at an auction scheduled to occur Sept. 21. Bidders have until Sept. 17 to express interest.

Crucible said in court documents that nine parties expressed significant interest in procuring some or all of Crucible's assets. But Wyomissing, Pa.-based Carpenter's offer was the only one to so far to come close to reality.
 
Ya this really sucks not just for them but for us as well. thay have been around for so long and its very sad to see this happen to them. I'm going to give them a call and see whats up and if i can place another order for old times sake.
 
One more employer permanently gone from Syracuse, one of the last few great blade steel manufacturers permanently gone.

out go the lights :-(

-Page
 
It seems as though many knife makers have really perfected and primarily worked with crucible steels...What are Chris Reeve, Spyderco and the like going to do? Do they already have something in the works? Would CR go back to BG-42?
 
jackstraw42 said:
It seems as though many knife makers have really perfected and primarily worked with crucible steels...What are Chris Reeve, Spyderco and the like going to do? Do they already have something in the works? Would CR go back to BG-42?
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That's really the $64,000 question, isn't it? Your guess is as good as mine, but it will be a great loss regardless. There really is no substitute for their steels.

At this point, we can only hope that someone will pick up CPM's patents and continue making the steel. I guess we'll know more in a month.
 
Somebody needs to find out what is happening with the rest of that CruForgeV smelt. I know that Scott initially had 10,000 pounds of it in Ft. Worth, but that leaves 70,000 from what I heard. I think somebody else will pick up some of the stainless CPM products but the CruForge is probably gone unless somebody puts together a buy. The good thing about Crucible was that they seemed small enough that you could actually find a real person to talk to about what you needed.
 
I heard Don Hanson bought all the Cruforge stuff and is renaming it "Don Hanson's CruForge" :D

This is a landmark in the history of knifedom.... a sad one. I hope Carpenter can take the hand-off and run with some of the steels.
 
This really is disappointing. So many good knife steels in one company that had people that were so good to deal with. A rare combination to be sure. I hope that whoever purchases the assets will pick up some of the people too.
 
Hmathews said:
This really is disappointing. So many good knife steels in one company that had people that were so good to deal with. A rare combination to be sure. I hope that whoever purchases the assets will pick up some of the people too.
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yes I really liked talking to amy in sales, always was very nice.
 
In my humble opinion, it will depend on whether or not the specialty steel division was profitable. If they were just writing it off every year as part of the big picture, another company may not see the value in keeping it going.
BB
 
Ah... CPM 154...

Perhaps "CPM" will stand for "Carpenter Powdered Metal"

I have been using Crucible lathe tool steel for as long as I've been around machining. It isn't just knife steel.
 
Nathan the Machinist said:
Ah... CPM 154...

Perhaps "CPM" will stand for "Carpenter Powdered Metal"

I have been using Crucible lathe tool steel for as long as I've been around machining. It isn't just knife steel.
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No and it isn't just Carpenter. It is a shame when any American company that makes actually something besides pie in the sky goes down. As I have stated before we should have bailed out industry long before banks and the stock market.
 
NickWheeler said:
I heard Don Hanson bought all the Cruforge stuff and is renaming it "Don Hanson's CruForge" :D
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Believe me man, I have though about it. But I'm too deep in W2 and like it better:cool: Aldo would be a good candidate to jump on the CruV, if it can even be had on a wholesale level.
 
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Don Hanson III said:
Believe me man, I have though about it. But I'm too deep in W2 and like it better:cool: Aldo would be a good candidate to jump on the CruV, if it can even be had on a wholesale level.
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It can probably be had for no more than wholesale at the auction if they even list it as a separate part of the inventory.
 
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