Crucible Materials to be auctioned off September 21

Glad to hear there's hope yet Scott, it would be a real shame to see a company that produces quality products go under.
 
Thanks Scott

We don't want to believe the gloom and doom reports, but if that's all we hear, you have to start wondering where the hope went. Your input (and the bits I've had from TX are much appreciated.

We'll pass on the words of hope to our customers as well. By the way, if you ever hear from Bruce, please pass our best.

Rob Ridley
Ranger Original Knifemakers Supply
 
no, Sandvik doesn't make powder metallurgy steels, they get fine carbides from their alloying and not using tons of vanadium :)
 
tsdevanna said:
Thanks to everyone for your continued support through this difficult time and for being great customers through the good times and bad.
All the best
Scott D.
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No, thank YOU! Scott - your company has been one of the few breaths of fresh air in the knife steel world, and certainly the most supportive and attainable!
 
Scott I called the number you gave, and talked to a couple of really nice people. they didnt even give me grief for not having a company affiliation, or for ordering such a small quantity. It is far, far cheaper than McMaster :D

Thanks :D:D:D
 
Scott, it think it is great that your still hanging in there with Crucible. After hearing your still there, I might place another order for more CruForgeV. Great news, now get the new owner on the side of the knifemakers.
 
I see Washington is all pissed off that PetroChina has invested 2 billion in the Alberta Oil Sands. Something about National Security. I wonder who might show up at the Crucible auction?

Ah well - I'm sure the space station and US fighter jets will work just as well with steel from CrucibleSevice.cn

Short sighted bastids. How come the banks get all the bailout money? If ever there were a "no brainer" to save American technology, this is it!

As a biologist, I was trained that there is no such thing as the vacant niche. If you abandon it, it will be filled promptly!

Anybody got an email address for homeland security?

Rob!
 
Dammit. There goes S30V
 
I was thinking the exact same thing Knifemaker. it seems to me that there is hardly a more practical science than metallurgy! :grumpy: Americas steel manufacturers are already getting pushed out of the country, or out competed by foreign manufacturers, and I don't think a cap and trade tax will help :eek:
 
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tsdevanna said:
You guys seem to be putting us - CRUCIBLE - in an early grave. The September 21st auction is part of the process. If none of the many interested parties purchases certain Crucible divisions, than those divisions will probably go away. If I had to bet on the future of Crucible at this point i would bet that we will still be here after September 21st but with a new owner.
Our tenative plans right now are to melt steel the second half of September and one of those melts should be CPM154. And we have plenty of CruForge V on hand - approx 30,000 pounds with 10,000 pounds of slab at the mill. We also have plenty of CPMS30V, 154CM and CPM 3V on hand.

I am going to stay the course and see this thing through. If everything just totally goes wrong - OK - I'll be looking for work but as I said earlier I think i will finish my career with Crucible !!!

Thanks to everyone for your continued support through this difficult time and for being great customers through the good times and bad. The knife community is great and has been the very best part of my job for years now. Again thanks and we should be continuing on with this great relationship for years to come.

All the best
Scott D.
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Well said, Scott. Not everybody around here is alarmist...I think it will all turn out ok. A few things will change, but business will be business I think.


Something to understand, guys....is that if a new owner takes over, they are still going to want to move as much steel as possible out the door...in every way possible (with the automotive steel in the tank...other avenues will be explored for sure).

Further....don't kid yourselves....Crucible isn't "doing us a favor" by selling us their steel...they are "doing business". I guarantee if it wasn't profitable, they wouldn't be doing it. If it was profitable before, it will be profitable after. The only risk is that some nut will go buy it up anticipating a run and charge us all double.


I don't see any reason to write-off Crucible any time soon.

And the more hype we add on this....the only result will be to raise prices with an unnecessary rush (high demand) on the steel.



It ain't over till the fat lady sings!

Dan
 
Daniel,

I'm not being alarmist. My first post was an accumulation from three different press reports, verbatim. No editorializing here. A chapter 7 bankruptcy and auction imply a company's assets go on the auction block in order to pay debts. It is not the same thing as just selling a company whole. The pieces are broken up and sold. I saw nothing that indicated the company would remain intact under new ownership. They floated that months ago and nothing came of it.

From the information I saw in the press, there was no mention of the company continuing under new leadership. At best, certain products and units would continue inside of a different company. Hopefully Scott will be attached to one of those units involved in powdered metals, and hopefully CPM 154 and S30V will be retained. They're used in mold build and extruder screws etc.
 
KnifeMaker.ca said:
I see Washington is all pissed off that PetroChina has invested 2 billion in the Alberta Oil Sands. Something about National Security. I wonder who might show up at the Crucible auction?

Ah well - I'm sure the space station and US fighter jets will work just as well with steel from CrucibleSevice.cn

Short sighted bastids. How come the banks get all the bailout money? If ever there were a "no brainer" to save American technology, this is it!

As a biologist, I was trained that there is no such thing as the vacant niche. If you abandon it, it will be filled promptly!

Anybody got an email address for homeland security?

Rob!
Click to expand...

I work for a company that makes aerospace metal, our metal makes a significant portion of the space station AND fighter jets. Carpenter (one of our competitors) has expressed interest in the compacted metals division. I wish the parent company of the company I work for was interested in buying Crucible, but they mainly buy aerospace manufacturers. I don't believe the Chinese would be interested in Crucible, they have the capability of dumping as much steel as they want on our markets already, their main advantages are cheap labor and no environmental restrictions. The only things they would gain by buying Crucible is a distribution network and a name to destroy. I hope that the parent company of the company I work for sees a reason to buy crucible and buys it lock stock and rolling mills, failing that, I hope someone can keep the Syracuse plant running, between Carrier, Magna, and Syracuse China, Syracuse has had too many layoffs already.

-Page
 
SYRACUSE, N.Y. (AP) -- About 700 United Steelworkers are set to vote on a new contract that could determine whether a New York City investment company will rescue Crucible Specialty Metals.

BlackEagle Partners wants to buy the 139-year-old suburban Syracuse steel mill but says it needs a new union contract and assistance from New York state before it can submit a firm purchase offer in bankruptcy court.

Union members will hear details of the proposed contract at a meeting Friday and then vote.

Crucible filed for bankruptcy court protection in May and has been trying to sell its facilities to settle more than $70 million in debts. The company recently found a buyer for its specialized steel plant and research facility near Pittsburgh.
 
isnt Pburg where all the test melts are done ?

i could be ok with that part
btw hope NY is good to go too

mike malosh said:
SYRACUSE, N.Y. (AP) -- About 700 United Steelworkers are set to vote on a new contract that could determine whether a New York City investment company will rescue Crucible Specialty Metals.

BlackEagle Partners wants to buy the 139-year-old suburban Syracuse steel mill but says it needs a new union contract and assistance from New York state before it can submit a firm purchase offer in bankruptcy court.

Union members will hear details of the proposed contract at a meeting Friday and then vote.

Crucible filed for bankruptcy court protection in May and has been trying to sell its facilities to settle more than $70 million in debts. The company recently found a buyer for its specialized steel plant and research facility near Pittsburgh.
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Scott thanks for taking the time to respond to the forum . I have never made a knife from any other steel other than from crucible and I hope your right about a new owner. kellyw
 
Bankruptcy judge approves Crucible sale
By Charley Hannagan
September 25, 2009, 3:25PM
Wilimington, Del.--A U.S. Bankruptcy Court judge has approved the break up of Crucible Materials Corp, selling its assets to companies in Pennsylvania and Ohio.

U.S. Judge Mary F. Walrath this morning approved the sale of Crucible’s compaction metals facility and research divisions in suburban Pittsburgh to Allegheny Technologies Inc. in Pittsburgh for $40.9 million.

She also approved the sale of the Crucible Speciality Metals plant located in Geddes to Crucible Industries LLC, a new company, for $8 million.

"This gives us a chance at a pretty good recovery, a better recovery than previously expected," said Ronald S. Gellert, the lawyer representing the committee of unsecured creditors.

Crucible Industries formed by Jack Jankovic, head of JP Industries Inc., a private investment group based in Cleveland. Jankovic plans to operate the plant, according to the Richard Knowles, subdistrict director for the United Steelworkers.

"It is our intent to operate the mill, and it is our intent to do so in a manner that results in growth and prosperity over time," the company said in an email to the Steelworkers.
 
Does this leave Crucible Industries as the new company that is able to make the current steels we use but with no research group?
 
Nathan the Machinist said:
Bankruptcy judge approves Crucible sale
By Charley Hannagan
September 25, 2009, 3:25PM
Wilimington, Del.--A U.S. Bankruptcy Court judge has approved the break up of Crucible Materials Corp, selling its assets to companies in Pennsylvania and Ohio.

U.S. Judge Mary F. Walrath this morning approved the sale of Crucible’s compaction metals facility and research divisions in suburban Pittsburgh to Allegheny Technologies Inc. in Pittsburgh for $40.9 million.

She also approved the sale of the Crucible Speciality Metals plant located in Geddes to Crucible Industries LLC, a new company, for $8 million.

"This gives us a chance at a pretty good recovery, a better recovery than previously expected," said Ronald S. Gellert, the lawyer representing the committee of unsecured creditors.

Crucible Industries formed by Jack Jankovic, head of JP Industries Inc., a private investment group based in Cleveland. Jankovic plans to operate the plant, according to the Richard Knowles, subdistrict director for the United Steelworkers.

"It is our intent to operate the mill, and it is our intent to do so in a manner that results in growth and prosperity over time," the company said in an email to the Steelworkers.
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Happy Day!
Syracuse needs Crucible and the jobs at Crucible. May the new owners find success and prosperity! May that success and prosperity be joined with providing high grade cutlery steels!

-Page
 
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