This is absolutely wild. Crusible is one of the largest producers of american made and designed blade steels. Bankruptcy doesn't mean they will disappear. Many big companies have filed for bankruptcy when they accumulate too much debt and they can use it to clear the debt. Hopefully they stick around and they continue to provide great jobs to Americans.
Ummm no file n bankruptcy as a company is the same a person it will effect there credit score that comes from "dun & bradstreet" meaning it will go down way down they won't be able to take on any new debt/income until the bankruptcy is discharged same as a real person. N e company file n bankruptcy is never good!!
Well im not surprised. I live in N.Y also and i can barely get by making $20 hr working full time. This state is a shit show. Nothing is cheap here. And i live about an hour South West of Syracuse. They should sincerely think about moving shop out of state. They should have probably did this years ago
N.Y has been this way for decades because all the mills shut down . The Mills is where all the money was coming from . I use to live in upstate its so sad to it looks like a ghosts town .
Its not about location bud its about what the USA provides us and there not in a bad location again its our infrastructure and people in charge is the problem Simple fixes stop using salt for snow use sand or other man made products not salt . Anyone that ones a home say in los Angeles should only have fake grass not reel. Something is effecting our climate
Maybe, but it depends on what’s hurting them rn. Regulation is a big thing but sometimes people jump to the idea of it ALWAYS being the problem, perhaps they’re over-leveraged due to buying equipment that didn’t live up to its potential. From what I saw they didn’t specify what was causing this. Also chapter 11 bankruptcy isn’t great by any means but it’s not a game-over scenario, more a “hey we’re still a good business we just messed up pretty bad and we need help to pay our creditors.”. Meanwhile chapter SEVEN bankruptcy is the corporate game-over kind of situation. I hope chapter 11 goes really smoothly for them and hopefully they can retain full employment in this community
I am in Australia and I can understand the situation. The cost of living and stiff competition from China is destroying a lot of the local companies. A lot of companies in general, here in Australia have shut down due to stupidly high energy costs and cost of living in general.
NY is a complete sh!t hole from a business and political perspective for sure. The great people of NY don’t deserve their terrible leaders and politics.
@@Lawyerboyleslie72 cpm is high end steel found in knives in the $150 and up range. A $15 chinese knife never gets near the high end market. Yes, NY sucks.
@@awesomereviews1561 It ain't the taxes, it's unions bankrupting companies. There's going to be a lot more of this in the coming years. We already saw it with US steel.
WOW! This is crazy! I have learned a LOT from this post!! I have recently been through Syracuse a few times driving down Route 690 and there is this huge factory building I drive past near the State Fairgrounds with the Crucible logo. From an unknowledgable perspective, that factory looks as though it was abandoned decades ago. So sad!! I wonder if the non friendly business politics of New York State hasn’t had a hand in this demise???? So sorry to hear this news. I am fortunate to learn something new every day. Thank you for your enlightenment. Jeff
This is shocking. Especially with the proliferation of Magnacut just recently. Cruwear,S30, S35, S45, 3v, 4v, M4, 20c......these are all in my night stand drawer in my edc circulation and I didn't pull out my cpm rex drawer. I've been to the NY factory and it was an awesome visit. I hope all the employees land on their feet and the company gets saved and the processes for there steel products stay high quality and improves.
It's a huge deal! I hate to say this, but I hope they raise their prices a little bit if it's what is needed to stay around. As far as I'm concerned, crucible steels are the best of the best. My superficial side loves Damasteel, but my user side pretty much only uses steps that start with "CPM". If I have to pay an extra 10% knowing that it's American made crucible steel I'll happily do it. I'd be happier if I didn't have to pay 10% more, but I'm always willing to pay a little more for American made products, especially Crucible steels!
Dude... you are a bit early on the doom train. Chapter 11 bankruptcy ain't great, but it is specifically a protocol for reorganizing finances so you can keep your assets and continue to operate. Chapter 11 allows companies to pause their debts so they can set things up to be more solvent. You yourself said they had already been through it and came out successfully.
"In a letter sent to employees on December 5, Crucible stated it was facing "serious financial difficulties," and while the company is taking steps to "address the issues," the company will "likely file a Chapter 11 bankruptcy petition," which could allow the company to continue operations. However, Crucible says if it cannot find a buyer, the massive steel plant next to the N.Y. State Fairgrounds will close in March of 2025."
I know a lot of fancy steel has come to the market since the inception of S30V, but it really is a great particulate metallurgy steel!! A lot of people think the particulate metallurgy process is new, but in all reality, Crucible has been making PM steels since the 70's. It doesn't take much looking to find out that Crucible Industries made the very first PM steel, CPM-S60V! Since that time frame, Crucible Industries has pushed the limits of what a knife steel can be, and they are a permanently recognizable contributer to the modern day pocket knife!!
Yeah you would think with so many knife manufacturers using their products they would be fine. Sounds like great at making specialized alloys bad at running a business.
@johnj.baranski6553 and yet I bet the phone you typed that from, the clothes on your back, and the shoes on your feet are made in china. As much as I'd like to say it is, chinesium isn't to blame here. Brands like WE actually buy a lot of their steels from Crucible. They don't do as good a job with it as ZT, CRK, etc but they use it. The whole mess with Survive Knives probably hurt them worse than china ever could
This was my first thought too. Magnacut has been the buzzword of the knife world for the last few years. As someone else said, I hope someone just buys them.
@billybunter3753 No way - China buys their CPM steels from Crucible. The problem is NY state is a nightmare for businesses and employees. The cost of living and the financial hoops the legislative body imposes on certain industries, makes it hard to stay profitable. New York USED to be a big firearms manufacturing state, until the anti 2A politicians started forcing companies to move elsewhere. This also looks like a case of mismanagement. A premiere specialty steel producer can't move more product??? Can't get more raw materials? Perhaps higher shipping and labor costs are also big contributing factors. It's a damn shame. Sometimes I also worry about Ka-bar company, since Ontario Knife Company is also an upstate NY blade manufacturer that just went through financial difficulties. NY Democrat politicians have been hostile to self defense industries and businesses general, which includes the 5 boroughs of NYC. I'm old enough to recall an era where Hoffritz (I bought my first Boker Titan 1 folder there, in my local Brooklyn mall) was a popular chain store in NY and other states that sold all sorts of quality blades, until the politicians decimated the NY self defense and cutlery retailers.
This quality will not be seen again for decades. The process they used was perfection. Sad, but they knew it was coming when they were bought out. Thank you for giving my family heirlooms. 😢
You just about totally glanced over the Chapter 11 bankruptcy part and what it is. This definitely isn't a death nail, it's a reorganization to make the business healthier and hopefully able to better continue in the future. It's not a going out of business ceasing to exist warning at this time. Niagra Speciality Metals is a completely different company too.
I used to work with old Crucible execs at a steel distributor called Zapp. They left Crucible decades ago because it was going under. What happened is that Crucible designed the powdered metal system which makes the best steel possible. When their exclusivity to this technology ran out, other companies were able to copy it and did it cheaper than Crucible which is why they are struggling financially. Even if we lose Crucible (which I don't think we will), we won't lose powdered steel which is what we actually use from them.
I love the same three steels that you've mentioned. S3V for the higher toughness, CruWear and Magnacut for the balance of toughness and edge retention with Magnacut also having the very high corrosion resistance.
NY is an expensive state to operate a business in. Even Kimber opened a new plant in Alabama. Maybe someone will take Crucible to a lower cost state like Alabama or Texas.
I only own one knife in CPM steel, CPM 154. It skates on a 600 grit powered diamond wheel. I was hoping to grab a few more over the next several years, so I hope that they do not go under.
I own quite a few knives in S30V and 20CV. Also own S45VN, S90V, S35VN, and 3V. This is concerning but may not be the end of Crucible. Many companies have filled for bankruptcy and keep on keeping on. Let's hope that this will be the case with this news.
Its good advice to buy a second of your favorite knife if its a cpm steel. Unfortunately its not so easy to find mine. Ive had my fehrman extreme judgment for about 13 years now and its been wonderful but theyre no longer made. and finding them on the secondary market for a price thats not totally insane is getting harder and harder everyday.
@@mikeboyce21 And all them supersteels tend to be quite A LOT more expensive... This is gonna drive prices up like crazy.. And put these amazing steel knives out of reach for even more folk.. 😞
A stated they have filed chapter11 before in 2011 so I wouldnt be that worried . If anything they hopefully leave ny as companies cant survive there anymore and hopefully in the next few years the economy can start making crucible more profitable.
@mikeboyce21 Yeah, feel ya’. My favourite fixed blade knives are a Survive Knives GSO-6 and a 4.1, both in CPM-3V, as well as a tiny, Cerakoted 2.5 in MagnaCut. I think it’s fair to say that the well has well and truly dried on all of those.
@CodSlap yeah survive are great. I got my gso 5 way back on the very first run in 2012. They stopped making the 5 for the 5.1 shortly after and they have become very rare. I wish I could get another 5 but I've never even seen one on the secondary market to be honest. But good luck to you finding what you're looking for.
One third of all the fixed blades and folders in our family are made from Crucible PM steel. One third of those are made from Magnacut. I think whoever buys or rescues Crucible will have to raise prices.
I just got my first magnacut knife so I can't speak to it yet but cpm s30v has been my favorite steel since it first came out. I also like cpm s35vn and want to get a cpm s45vn to try but haven't yet. I hate to see any American company go under especially one that has been around for so long, has such a huge impact on whatever field of endeavor they work in, but especially on that has anything to do with my knife addiction.
When I think of the niche that Crucible seemed to command, it's not clear why these financial problems exist. Have they lost their markets as patents expire? The cost of high-quality knives continues to increase.
Holy crap. I have had my 'once in a life' custom bushcraft knife made in CPM Cruwear, years ago Magnacut is now the talk of the town. What a loss it would be, if they wouldn't make it. Also pretty incredible tbh, with such superior products. All the best for the employees and their families.
Damn. I have over 100 knives. Id say 90% are CPM steels. This is devastating. I wonder what the future holds. I also feel terrible for the employees that are losing their jobs. Tough times. Atleast I already own a ton of them.
@@barrymcockener2209 I was born in New York City, in a hospital that was directly across the street from Gracie mansion. I am of mixed race and used to go to a really good school. To get there, I had to walk through the theater district, passed a small museum district, and our class overlooked the courtyard at the museum of modern art. I could have chestnuts, fresh, salted, hot pretzels, and other ethnic food sold out of cards on the way to school. I could get Puerto Rican Chinese food mixed with Thai fusion at 3 o’clock in the morning. The funniest thing was our school had a shooting team. You can carry your 22 on the subway or the bus on the way to school. There was no place better in my opinion to grow up. Now I also have to tell you that my family had a farm up in the rainforest in Puerto Rico. I would go there in the summertime. We lived in New York State, so we would go into the borscht belt, which was in the mountains and weed hike and I was even at Woodstock as a six-year-old. That’s a lot of history. I love where I live now on a farm in South Central Virginia and I love this life much better thanwhat it would be like in New York City. The last thing is my cousin pays in rent five times more than what we used to pay for an 8 acre farm. I don’t miss any of that.
This is wild, I did not see this coming. I've been reading Larrin's book, The Story of Knife Steel, and it's crazy how long Crucible has been in the game. Hopefully we knife steel nerds can keep buying new CPM blades, and more importantly the employees can keep their livelihood.
Clarification for those unaware: not all bankruptcies are the same. The two big ones are chapter 11 and chapter 7. Chapter 7 is the bad one, basically a corporate game-over scenario. Chapter 11 is still not a good situation to be in but is VASTLY better than chapter 7. Under 11 they’re just trying to put the business back on track after taking on too much debt or other bad situations. Basically it’s an admission of “Hey we’re still a good business and a going concern, we just f*cked up and need help to recover” whereas chapter 7 is the admission of total defeat. A bunch of businesses you may have heard of have declared chapter 11 multiple times and are still doing well. The reason it exists is to reduce the odds of a small to medium corporate mistake just dooming an otherwise good company to total death
No way, bro. I need CPM. i'm about to become a bladesmith, and they've got the best of the best by far. Something has to be done. I'm so upset. Cruwear and Magnacut are supposed to be my main blade steels when my forge opens.
We’re gonna have to get a magnacut replacement stat! As far as non stainless I hope this means we will start to see k390 all over the place and spyderco does even more options in k390. Cru-wear will be missed. And s35vn has become the mid tier king and even in a lot of budget options now well under $100 and S30V as well. This is nuts. Most of my knives are crucible steels except for my M390’s and 20cv’s. Love my paramilitary 2 in Cru-wear and Benchmade mini adamas also in Cru-wear. Love my esee 3 in s35vn a ton. This is a sad day for the knife community. Definitely gonna pick up a Schwartz overland sport before the steel changes.
I just looked up all my super steels. They are all crucible. 3V, M4, 20CV, Magnacut, Cru-Wear. K390 and M390 are the only ones I have that aren’t crucible. I have a lot of S35VN too.
Jumping the gun a bit. They could reorganize and come out fine. Surely there are creditors that recognize the value of Crucible outside of us knife nerds. Most of those steels were developed to make highly wear resistant slitting, cutting blades and tooling for industrial use. Pocket knives are a drop in the bucket.
K390 should be on most knives. This thing is incredible, takes the meanest edge in seconds and keep it against hard use. A shame it's quite rare in knives.
The "go fund me" was 2017 when small, unknown companies like WE and Reate hit our shores. Should never have given them a foothold. Greg Medford warned us. Too late now.
That's really a shame. Some of my favorite steels like s90v, Magnacut, 3V, Cruwear, s125v, 20cv and some other cool ones like 15v, rex series, s110v, s45v, spy27, 1V, 4V, s60v are made by Crucible. I really hope they can stay in business and keep giving us amazing steels for years to come.
Chapter 11 does not mean that they are closing their doors. They said reorganizing which means taking a good hard look at financials and THEN deciding to make changes to continue in a profitable manor OR permanently close. It seems that decision has not yet been made.
I just ordered a 940 in magnacut, glad I did. Sadly I think we're going to see a lot more of this over the next year. Times are tight in all of the industries that boomed during COVID. A lot of companies are now over extended financially and sales have dropped off.
This one hits close to home. My girlfriend and I visit and spend time in Syracuse/Central NY all the time because she is from there. Going into the state fair you literally drive past Crucible. So, it sucks to see this happening especially for all the folks that live and work there. Hopefully someone steps in and buys or invests because the last thing CNY needs is something like this.
My first thought was if other companies could produce the best-selling steels (not from China). I immediately thought of Carpenter and Bohler-Uddenholm, where CPM 20CV is virtually interchangeable with CTS 204P & M390.
With the supposed price of knife steel and the boom of edc. I find this hard to believe or understand I need more info. You know knife companies are going to inflate prices over this , on a over priced market as it is.
I recently got my first custom knife order with CPM 3-V. And I just realized if the CPM steel production stops there’s gonna be one lucky guy that has the only MPF knife in 3-V to ever exist.
So they filed for chapter 11, which is reorganization, not chapter 7, which is liquidation and means they’re going out of business immediately. It’s probable with tariffs on Chinese steel coming into effect. Once the new administration comes in that the market is going to look very different for crucible than it does today. I’m not trying to be optimistic or Pollyanna, but one of the main challenges to a producer like crucible is state subsidized Cheap Chinese steel. And a tariff could change everything. I’m not particularly big on tariffs. But if they’re targeted to level the playing field, it could be a good move. We’ll see.
Well, if they do close, they might be able to license their formulas. So, I don't think this steel will disappear. It'll get picked up if CPM closes. More importantly, is that the employees end up okay.
That is sad to hear. Looking at Crucible’s history, I imagine they have been feeling the same decline that made Detroit what it is today. I’m guessing they have been struggling along the last twenty years or so with old outdated equipment in worsening economic conditions, to again be looking at insolvency and wanting to sell. Sadly the knife industry is a small part of what has keep them alive. What ever happens, I hope the best for all involved in making such valuable products for so many.
Chater 11 is not straight bankruptcy. Chapter 13 is straight bankruptcy where the company seeks liquidation. In Chapter 11 the company tries to negotiate a reorganization with its creditors in order to continue to operate going forward. They often look to combine with a larger firm with a stronger capital position. They can also seek to sell assets to pay down debt. So they may be able to continue as a going concern if their reorganization is successful. That of course would be the best outcome.
Agreed. They are warning that chapter 11 is possible. Chapter 11 is a mechanism to restructure debt that allows a company with financial problems to get things sorted with the agreement of their creditors. It’s not an execution.
Yes Chapter 7 I believe is a sell off. I worked for Tops Market's in NY they filed bankruptcy to restructure and screw over the employee's that were in the teamsters union... Still around. I lived through a few different ownership over the 20 years with them. @@mpttomb7839
@@gideonstacticalit's a pretty important point to cover that it's chapter 11 and not chapter 7. The company will still be around and producing steel, trying to get out of it.
No. There's German manufacturers. Carpenter still exists in the U.S. Japan still makes high end steel. There's other companies in the U.S. that could also step in and fill the void. But, and this is important, bankruptcy does not mean the company will no longer exist. They could sell the company, or part of it. Chapter 11 basically allows the company to continue operation while they try to pay off their debts or dissolve them generally.
Chapter 11 bankruptcy isn’t the bad one. It’s not good, but not the kiss of death so to speak. Chapter 7 is the one that basically means the company is dead. I really hope Crucible manages to stay afloat as I’m sure everyone does in the knife community.
Despite the economy, the knife industry is booming, knives and its steel aren't going away. Someone will figure something out. Call the steel whatever you want, but innovation will continue to develop, and us as the end user we will continue to reap the benefits of quality blade steel and all around performance. It's definitely a bummer those employees are getting let go, but like you said they are obviously really good at what they do and plenty of other companies would be glad to have them on their team. Thanks for the update, GT. Keep up the good work.
Filing for Chapter 11 doesn’t mean you’re going out of business. Chapter 11 is just filing to re-organize. If you were filing chapter 13 then you’re going bankrupt. I have worked for several companies that filed chapter 11 and there was really no change to workers employment or the business as someone from outside the company would see it. Chapter 11 just gives them protection from their creditors while they re-organize. So I don’t think it’s as bad as you feel it is.
Hope they can work something out and keep on operating. Unfortunately may be rough on a lot of their employees do not think there is exactly a huge demandbfor steel workers. Sad state of affairs.
Bankruptcy doesn't necessarily mean the company is closing. It's become common practice to "reorganize dept". I'd guess one of the larger knife manufacturers could also step in.
This is big big news. (Also not good news just before Christmas.) In fact probably the biggest news since Crucible (+ Chris Reeve) released S30V - powdered metallurgy stainless steel specifically for knives. Crucible make so many premium (esp. powder metallurgy) steels - S series, M series, V series, REX series and of course most recently MagnaCut. Obviously not the end for knives but if Crucible does go under it will leave a big hole. The other issue Aaron didn't mention relates to whether or not other manufacturers can ramp-up production to cover the sudden gap in the market. Time will tell .....
So now we're left with only Bohler and carpenter steel's to choose from, sanvik maybe 🤔there's really nothing else good out there that i know of? Somebody's gotta buy crucible!!
@@Lawyerboyleslie72 rather presumptuous to assume that I've been buying Chinese made knives for the past 3 years. Where did you purchase your logic from? Why don't you blame all the corporations that sold us out by outsourcing, are you capable of understanding that or are you 12 years of age?
@@Lawyerboyleslie72 most Chinese companies use crucible steel. WE and Kizer both use a ton of S35VN in particular. American vs Chinese made makes exactly 0 difference to Crucible.
CPM has simply revolutionized metallurgy. Seems hard to believe that it is not a financially viable endeavor. Hopefully they'll get past this -- and without getting anywhere near politics, it's so important we save these types of US industries.
If we go down.... My guess (because I don't know for sure, this is just intuition/gut feeling speculation) would be to look to Carpenter Tech. Given that they already have PM capabilities, their facility would be best suited to continuing production of Crucible's "recipes".
So far my favorite Spyderco steel is Spy27 it has similar edge retention to S30V & similar toughness to S35VN & better corrosion resistance than the other two. I also like S45VN it's kind of like an in-between the other two but with a bit better edge retention.
Timely. I was most likely already going to pick up a Reiff S5 (even though I'm not a big fan of scandi, I still want one good one just for because), but now....Juuuuust in case, I may pick up an extra knife or two. Christmas bonus goes in Friday....I'll spend a grand and really never "need" to buy another knife, having redundancy in magnacut/3v that cover dedicated skinners, bushcraft, survival, EDC. I doubt CPM just disappears, but stock availability, price increase if production slows or is stalled (and you know once it goes up, price is never coming back down). Best to just get it now.
Many politicians and government operatives (thankfully, many of them now outgoing) have gotten rich off foreign lobbyists who have bribed their way into the American marketplace and placed unfair competitive burdens on domestic companies. Imports have flooded in and almost ruined the local producer. This is why we are hearing talk of tariffs on imports. It's to give our own companies a chance to get off life support and get into the black again. Let's hope that happens.
I have only one knife with "super steel". It is a Spyderco Paramilitary 2 with CPM Cruwear. I love it. I hope and pray that things work out for Crucible.
MagnaCut isn’t gonna go anywhere and hopefully CPM will still exist, but I’m off chance they do not someone else maybe manufacturing it by the end of the year 2025.
The cost of doing business has increased dramatically in recent years. Look at how much you pay for food, either in the grocery store or restaurants. The minimum wage being so high means that costs to businesses have increased dramatically, along with higher taxes, etc. Hopefully the Board of Directors at CS can save the company. I imagine some people will be let go though. Too bad. Thanks for the info. Aaron.
Their contributions as far as research and development of different steels and processes go is beyond legendary and critical to any industry that uses metal in one form or another.
Man this is depressing. 3V and Magnacut are my favorite knife steels. Looks like I have a reason to spend more money on knives. I'm going to have to buy backups of my favorites.
Crucible makes the tool steels, where do they get their raw materials from? I'm just worried any future import/export tariffs may put even more pressure on them. They may just push all the tax increases down to the customer. May not even be relevant. But I'm curious.
Thanks for the information. This seems weird to me. For years the knife and tool market were kinda slow and stagnant. Now the knife world is growing like crazy and the biggest blade material company is going bankrupt due to debt? It just seems very suspicious to me. I am praying that somehow the workers can keep their jobs or move one to better things. What a terrible time of year to go through this. 🙏🏻
When you, as a knife manufacture, not steel manufacture, that has jumped on the trend of increasing knife prices well past what most hobbyists are willing to pay, creates a domino effect when the community stops buying. If production slows for these types of companies, it puts a major strain on margins. Ironically, this will make prices go even higher short term, compounding the problem even more.
Holy crap I was literally about to post something on this. Right on! Its a big deal imo. Some of the best knife steels come from Crucible.
Dude, yeah this is not good. Hopefully they will find a buyer or get restructured and it won’t be a huge hit to the industry.
Imagine them raising more their prices...crazy ! @@LostTrailX
Not some all of steel comes from there
@@gideonstacticalelon musk just needs to buy it
Peter was the man at New Jersey steel his number is still in my phone .
I have learned a lot from him about our knife economy and truth behind it .
This is absolutely wild. Crusible is one of the largest producers of american made and designed blade steels. Bankruptcy doesn't mean they will disappear. Many big companies have filed for bankruptcy when they accumulate too much debt and they can use it to clear the debt. Hopefully they stick around and they continue to provide great jobs to Americans.
agree all the best to you
I wouldn't hold my breathe. Most likely they will get bought up by a foreign company. Probably, one from China. Japan if we're lucky.
Nothing is is they owe 700,000 in back property taxes according to Syracuse County. Bankruptcy doesn't protect you from that
We used to be but sadly it's nowhere near the size it used to be.
Ummm no file n bankruptcy as a company is the same a person it will effect there credit score that comes from "dun & bradstreet" meaning it will go down way down they won't be able to take on any new debt/income until the bankruptcy is discharged same as a real person. N e company file n bankruptcy is never good!!
Praying for all the employees affected.
@@marcausedc9521 Indeed!
May the Force be with them and you, always 🙏❤️
I pray they get smart and move out of the Evil Empire.
Prayer works no better than chance (50/50) worse if for an individual and they know about it.
The employees are a big part of the issue. Crucible has been hamstrung by labor unions for the past two decades.
Well im not surprised. I live in N.Y also and i can barely get by making $20 hr working full time. This state is a shit show. Nothing is cheap here. And i live about an hour South West of Syracuse. They should sincerely think about moving shop out of state. They should have probably did this years ago
Agree!
Wonder if they'll move to Texas.
💯💯💯💯💯💯💯💯💯💯
N.Y has been this way for decades because all the mills shut down . The Mills is where all the money was coming from . I use to live in upstate its so sad to it looks like a ghosts town .
Its not about location bud its about what the USA provides us and there not in a bad location again its our infrastructure and people in charge is the problem
Simple fixes stop using salt for snow use sand or other man made products not salt .
Anyone that ones a home say in los Angeles should only have fake grass not reel. Something is effecting our climate
Spyderco and Benchmade should buy CPM.
kershaw maybe
Not leftist Benchmade,.they will raise their prices.... More !
Not benchmade they over charge already. Their knives aren’t worth what they make you pay for them
Yes! This!
Spyderco!
If Crucible moved their company to a more business-friendly state like Ohio, they would probably succeed.
@@random_eskimo_in_the_rockies
It's the best move. NY is a nightmare for businesses in general, especially industries involved in blades and firearms.
Ohio is know for steel. I live in a dried up steel town. We would gladly take the company for a few good jobs here.
@@TheScotchaholicthe company has been dying for years, it has nothing to do with NY.
They're known as a steel company, not a weapons manufacturer
Maybe, but it depends on what’s hurting them rn. Regulation is a big thing but sometimes people jump to the idea of it ALWAYS being the problem, perhaps they’re over-leveraged due to buying equipment that didn’t live up to its potential. From what I saw they didn’t specify what was causing this. Also chapter 11 bankruptcy isn’t great by any means but it’s not a game-over scenario, more a “hey we’re still a good business we just messed up pretty bad and we need help to pay our creditors.”. Meanwhile chapter SEVEN bankruptcy is the corporate game-over kind of situation. I hope chapter 11 goes really smoothly for them and hopefully they can retain full employment in this community
I seriously doubt that location is the problem. If it was location, any business would move unless their problems travel with them
I am in Australia and I can understand the situation. The cost of living and stiff competition from China is destroying a lot of the local companies. A lot of companies in general, here in Australia have shut down due to stupidly high energy costs and cost of living in general.
The same is happening here in Europe, they are killing us.
@@BladeWalker77 We have federal elections May 2025 and the incumbent government will be going out - they destroyed Australia
On purpose. Our leaders are doing this on purpose.
It's late stage capitalism
@@P-tricky13 Actually I do not care for the reasoning behind these actions at all. I am just against it.
It's a manufacturing company in NY. It's par for the course. Nothing can survive in NY.
100%
They need to Move to Texas or maybe just someplace really cheap like Arkansas
While yes your right this has 100% to do with chinas flooding the knife market
Yeah they need to leave the People’s Republic of New York.
NY is a complete sh!t hole from a business and political perspective for sure. The great people of NY don’t deserve their terrible leaders and politics.
That sucks. I believe they're headquartered in Syracuse, NY. Camillus, Ontario and Schrade have all gone bankrupt in NY
Its NY? Not the chinese made knives?
@@Lawyerboyleslie72 cpm is high end steel found in knives in the $150 and up range. A $15 chinese knife never gets near the high end market. Yes, NY sucks.
@@Lawyerboyleslie72Yep it’s NY. Taxes are super high and everything is very expensive. They should have move out of the state long ago.
@@awesomereviews1561 It ain't the taxes, it's unions bankrupting companies. There's going to be a lot more of this in the coming years. We already saw it with US steel.
WOW! This is crazy! I have learned a LOT from this post!! I have recently been through Syracuse a few times driving down Route 690 and there is this huge factory building I drive past near the State Fairgrounds with the Crucible logo. From an unknowledgable perspective, that factory looks as though it was abandoned decades ago. So sad!! I wonder if the non friendly business politics of New York State hasn’t had a hand in this demise???? So sorry to hear this news. I am fortunate to learn something new every day. Thank you for your enlightenment. Jeff
This is shocking. Especially with the proliferation of Magnacut just recently. Cruwear,S30, S35, S45, 3v, 4v, M4, 20c......these are all in my night stand drawer in my edc circulation and I didn't pull out my cpm rex drawer.
I've been to the NY factory and it was an awesome visit.
I hope all the employees land on their feet and the company gets saved and the processes for there steel products stay high quality and improves.
Knife steel makes only a portion of what they make steel for
1095, spring steel, 01, A2 long live love
😂😂😂 what is that?? Let's just soak iron in bone soup for half a year, like in medieval times 🤣🤣🤣
Did you know science was not always overrated?😂
O1, not 01. Oh ….for oil
@@elim7228 yo dude, you don't have to be this guys, we all know about supersteel. Lots don't give a fuck tho.
HEY...Can you give me the recipe for both that steel...and the soup...? 🗡🍛🤣🤣🤣 @elim7228
It's a huge deal! I hate to say this, but I hope they raise their prices a little bit if it's what is needed to stay around. As far as I'm concerned, crucible steels are the best of the best. My superficial side loves Damasteel, but my user side pretty much only uses steps that start with "CPM". If I have to pay an extra 10% knowing that it's American made crucible steel I'll happily do it. I'd be happier if I didn't have to pay 10% more, but I'm always willing to pay a little more for American made products, especially Crucible steels!
Dude... you are a bit early on the doom train. Chapter 11 bankruptcy ain't great, but it is specifically a protocol for reorganizing finances so you can keep your assets and continue to operate. Chapter 11 allows companies to pause their debts so they can set things up to be more solvent. You yourself said they had already been through it and came out successfully.
I have worked for companies that went in 11 and came out okay sometimes. What you stated is true. Chapter 7 is the killer.
Drama for clicks
It's so business they owe can collect while they pay their back taxes
"In a letter sent to employees on December 5, Crucible stated it was facing "serious financial difficulties," and while the company is taking steps to "address the issues," the company will "likely file a Chapter 11 bankruptcy petition," which could allow the company to continue operations. However, Crucible says if it cannot find a buyer, the massive steel plant next to the N.Y. State Fairgrounds will close in March of 2025."
I know a lot of fancy steel has come to the market since the inception of S30V, but it really is a great particulate metallurgy steel!! A lot of people think the particulate metallurgy process is new, but in all reality, Crucible has been making PM steels since the 70's. It doesn't take much looking to find out that Crucible Industries made the very first PM steel, CPM-S60V! Since that time frame, Crucible Industries has pushed the limits of what a knife steel can be, and they are a permanently recognizable contributer to the modern day pocket knife!!
Ah man, that's too bad. I hope the best for those workers. I only own a few CPM3V steel knives.
If a Japanese company started producing magnacut chemistry steel they should totally name it Manga-cut
😂good one
or a florida company and call it magat cut
German: Magnaubercüttenknifensteel
Australian: Knoife Cut
Russian: Magna Blyat
Polish: Kurwa Cut
French: Magna Se rendre Cut
😅
This sucks, out of the last 20 knives I've bought, all but 4 were cpm steel.
Yeah you would think with so many knife manufacturers using their products they would be fine. Sounds like great at making specialized alloys bad at running a business.
Most of my favorite steels are made by Crucible. CruWear, 15V and S90V are 3 of my favorites. Hopefully they are able to work everything out.
Man. All of my favorite knives are running CPM steels. Mainly Magnacut. I love that steel. Hopefully Crucible can recover
Look at your collection. If you have chinese knives, you're to blame
@johnj.baranski6553 and yet I bet the phone you typed that from, the clothes on your back, and the shoes on your feet are made in china. As much as I'd like to say it is, chinesium isn't to blame here. Brands like WE actually buy a lot of their steels from Crucible. They don't do as good a job with it as ZT, CRK, etc but they use it. The whole mess with Survive Knives probably hurt them worse than china ever could
I don't understand how this is possible considering all the hype and sales surrounding the launch of Magnacut!
CHINAHHHHHHH
This was my first thought too. Magnacut has been the buzzword of the knife world for the last few years. As someone else said, I hope someone just buys them.
@billybunter3753
No way - China buys their CPM steels from Crucible.
The problem is NY state is a nightmare for businesses and employees. The cost of living and the financial hoops the legislative body imposes on certain industries, makes it hard to stay profitable.
New York USED to be a big firearms manufacturing state, until the anti 2A politicians started forcing companies to move elsewhere.
This also looks like a case of mismanagement. A premiere specialty steel producer can't move more product??? Can't get more raw materials? Perhaps higher shipping and labor costs are also big contributing factors.
It's a damn shame.
Sometimes I also worry about Ka-bar company, since Ontario Knife Company is also an upstate NY blade manufacturer that just went through financial difficulties.
NY Democrat politicians have been hostile to self defense industries and businesses general, which includes the 5 boroughs of NYC.
I'm old enough to recall an era where Hoffritz (I bought my first Boker Titan 1 folder there, in my local Brooklyn mall) was a popular chain store in NY and other states that sold all sorts of quality blades, until the politicians decimated the NY self defense and cutlery retailers.
NGL it probably has something to do with the potential incoming tariffs
@@mangobadgerThat doesn't even make sense.
This quality will not be seen again for decades. The process they used was perfection. Sad, but they knew it was coming when they were bought out. Thank you for giving my family heirlooms. 😢
You just about totally glanced over the Chapter 11 bankruptcy part and what it is. This definitely isn't a death nail, it's a reorganization to make the business healthier and hopefully able to better continue in the future. It's not a going out of business ceasing to exist warning at this time. Niagra Speciality Metals is a completely different company too.
I used to work with old Crucible execs at a steel distributor called Zapp. They left Crucible decades ago because it was going under.
What happened is that Crucible designed the powdered metal system which makes the best steel possible. When their exclusivity to this technology ran out, other companies were able to copy it and did it cheaper than Crucible which is why they are struggling financially.
Even if we lose Crucible (which I don't think we will), we won't lose powdered steel which is what we actually use from them.
I love the same three steels that you've mentioned. S3V for the higher toughness, CruWear and Magnacut for the balance of toughness and edge retention with Magnacut also having the very high corrosion resistance.
NY is an expensive state to operate a business in. Even Kimber opened a new plant in Alabama. Maybe someone will take Crucible to a lower cost state like Alabama or Texas.
Kimberly jas been based in Pennsylvania for over 10 years now.
They were smart to leave when they did.
I only own one knife in CPM steel, CPM 154. It skates on a 600 grit powered diamond wheel. I was hoping to grab a few more over the next several years, so I hope that they do not go under.
Is the sv-30 buck started to use in house or is that also a cpm made blade? I'm guessing it's still cpm made just buck heat treatment
I own quite a few knives in S30V and 20CV. Also own S45VN, S90V, S35VN, and 3V. This is concerning but may not be the end of Crucible. Many companies have filled for bankruptcy and keep on keeping on. Let's hope that this will be the case with this news.
Its good advice to buy a second of your favorite knife if its a cpm steel. Unfortunately its not so easy to find mine. Ive had my fehrman extreme judgment for about 13 years now and its been wonderful but theyre no longer made. and finding them on the secondary market for a price thats not totally insane is getting harder and harder everyday.
@@mikeboyce21 And all them supersteels tend to be quite A LOT more expensive...
This is gonna drive prices up like crazy..
And put these amazing steel knives out of reach for even more folk.. 😞
A stated they have filed chapter11 before in 2011 so I wouldnt be that worried . If anything they hopefully leave ny as companies cant survive there anymore and hopefully in the next few years the economy can start making crucible more profitable.
@mikeboyce21 Yeah, feel ya’. My favourite fixed blade knives are a Survive Knives GSO-6 and a 4.1, both in CPM-3V, as well as a tiny, Cerakoted 2.5 in MagnaCut. I think it’s fair to say that the well has well and truly dried on all of those.
@CodSlap yeah survive are great. I got my gso 5 way back on the very first run in 2012. They stopped making the 5 for the 5.1 shortly after and they have become very rare. I wish I could get another 5 but I've never even seen one on the secondary market to be honest. But good luck to you finding what you're looking for.
One third of all the fixed blades and folders in our family are made from Crucible PM steel. One third of those are made from Magnacut. I think whoever buys or rescues Crucible will have to raise prices.
I just got my first magnacut knife so I can't speak to it yet but cpm s30v has been my favorite steel since it first came out. I also like cpm s35vn and want to get a cpm s45vn to try but haven't yet. I hate to see any American company go under especially one that has been around for so long, has such a huge impact on whatever field of endeavor they work in, but especially on that has anything to do with my knife addiction.
When I think of the niche that Crucible seemed to command, it's not clear why these financial problems exist. Have they lost their markets as patents expire? The cost of high-quality knives continues to increase.
Holy crap. I have had my 'once in a life' custom bushcraft knife made in CPM Cruwear, years ago
Magnacut is now the talk of the town.
What a loss it would be, if they wouldn't make it.
Also pretty incredible tbh, with such superior products.
All the best for the employees and their families.
Damn. I have over 100 knives. Id say 90% are CPM steels. This is devastating. I wonder what the future holds. I also feel terrible for the employees that are losing their jobs. Tough times. Atleast I already own a ton of them.
I’m confused. If you file for bankruptcy you don’t always close your doors, right? Sounds like your saying they’re closing down for sure.
It's also the case for Krupp in Germany, they're about to fire 40% of their employees.
Damn, it's a rough period in many aspects.
You have to wonder if moving to a more business friendly state would be enough in situations like this.
I am originally from New York, I won’t go back. I referred to it as the PRNY, the People’s Republic of New York.
@@Tusk2001 Eesh I hate that for you. NY is a very pretty state at least the parts I've seen. Their laws just aren't good for the freedom-minded.
@@barrymcockener2209 I was born in New York City, in a hospital that was directly across the street from Gracie mansion. I am of mixed race and used to go to a really good school. To get there, I had to walk through the theater district, passed a small museum district, and our class overlooked the courtyard at the museum of modern art.
I could have chestnuts, fresh, salted, hot pretzels, and other ethnic food sold out of cards on the way to school. I could get Puerto Rican Chinese food mixed with Thai fusion at 3 o’clock in the morning.
The funniest thing was our school had a shooting team. You can carry your 22 on the subway or the bus on the way to school.
There was no place better in my opinion to grow up. Now I also have to tell you that my family had a farm up in the rainforest in Puerto Rico. I would go there in the summertime. We lived in New York State, so we would go into the borscht belt, which was in the mountains and weed hike and I was even at Woodstock as a six-year-old. That’s a lot of history. I love where I live now on a farm in South Central Virginia and I love this life much better thanwhat it would be like in New York City.
The last thing is my cousin pays in rent five times more than what we used to pay for an 8 acre farm. I don’t miss any of that.
This is wild, I did not see this coming. I've been reading Larrin's book, The Story of Knife Steel, and it's crazy how long Crucible has been in the game. Hopefully we knife steel nerds can keep buying new CPM blades, and more importantly the employees can keep their livelihood.
same here... 3V, CruWear and MagnaCut...
I hope they can turn the tables somehow. Maybe sell the Formulas/usage rights for some good money? idk
Well that escalated quickly. Off to go get a magnacut before it starts hitting platinum prices…
*Hides the 4V, S45/90/110V, Maxamet, K390 and 20CV* 😅
Clarification for those unaware: not all bankruptcies are the same. The two big ones are chapter 11 and chapter 7. Chapter 7 is the bad one, basically a corporate game-over scenario. Chapter 11 is still not a good situation to be in but is VASTLY better than chapter 7. Under 11 they’re just trying to put the business back on track after taking on too much debt or other bad situations. Basically it’s an admission of “Hey we’re still a good business and a going concern, we just f*cked up and need help to recover” whereas chapter 7 is the admission of total defeat. A bunch of businesses you may have heard of have declared chapter 11 multiple times and are still doing well. The reason it exists is to reduce the odds of a small to medium corporate mistake just dooming an otherwise good company to total death
No way, bro. I need CPM. i'm about to become a bladesmith, and they've got the best of the best by far. Something has to be done. I'm so upset. Cruwear and Magnacut are supposed to be my main blade steels when my forge opens.
We’re gonna have to get a magnacut replacement stat! As far as non stainless I hope this means we will start to see k390 all over the place and spyderco does even more options in k390. Cru-wear will be missed. And s35vn has become the mid tier king and even in a lot of budget options now well under $100 and S30V as well. This is nuts. Most of my knives are crucible steels except for my M390’s and 20cv’s. Love my paramilitary 2 in Cru-wear and Benchmade mini adamas also in Cru-wear. Love my esee 3 in s35vn a ton. This is a sad day for the knife community. Definitely gonna pick up a Schwartz overland sport before the steel changes.
My bad 20cv is crucible lol.
I just looked up all my super steels. They are all crucible. 3V, M4, 20CV, Magnacut, Cru-Wear. K390 and M390 are the only ones I have that aren’t crucible. I have a lot of S35VN too.
You have cts pd1 and z wear both comp of cruwear. Cruwear is really and old steel. Gerber was using back in the 80s.
Jumping the gun a bit. They could reorganize and come out fine. Surely there are creditors that recognize the value of Crucible outside of us knife nerds. Most of those steels were developed to make highly wear resistant slitting, cutting blades and tooling for industrial use. Pocket knives are a drop in the bucket.
K390 should be on most knives. This thing is incredible, takes the meanest edge in seconds and keep it against hard use. A shame it's quite rare in knives.
Is a "Go Fund Me" post in order?
The "go fund me" was 2017 when small, unknown companies like WE and Reate hit our shores. Should never have given them a foothold. Greg Medford warned us. Too late now.
That's really a shame. Some of my favorite steels like s90v, Magnacut, 3V, Cruwear, s125v, 20cv and some other cool ones like 15v, rex series, s110v, s45v, spy27, 1V, 4V, s60v are made by Crucible. I really hope they can stay in business and keep giving us amazing steels for years to come.
Chapter 11 does not mean that they are closing their doors. They said reorganizing which means taking a good hard look at financials and THEN deciding to make changes to continue in a profitable manor OR permanently close. It seems that decision has not yet been made.
I just ordered a 940 in magnacut, glad I did.
Sadly I think we're going to see a lot more of this over the next year. Times are tight in all of the industries that boomed during COVID. A lot of companies are now over extended financially and sales have dropped off.
This one hits close to home. My girlfriend and I visit and spend time in Syracuse/Central NY all the time because she is from there. Going into the state fair you literally drive past Crucible. So, it sucks to see this happening especially for all the folks that live and work there. Hopefully someone steps in and buys or invests because the last thing CNY needs is something like this.
My first thought was if other companies could produce the best-selling steels (not from China). I immediately thought of Carpenter and Bohler-Uddenholm, where CPM 20CV is virtually interchangeable with CTS 204P & M390.
Do they make the steel in Syracuse, or farm it out to places like China? If they make it there, they should move out of NY.
With the supposed price of knife steel and the boom of edc. I find this hard to believe or understand
I need more info. You know knife companies are going to inflate prices over this , on a over priced market as it is.
I recently got my first custom knife order with CPM 3-V. And I just realized if the CPM steel production stops there’s gonna be one lucky guy that has the only MPF knife in 3-V to ever exist.
Chapter 11 does not necessarily mean the company goes under. For many companies, it is a reorganization.
Does this include 154CM that Emerson knives uses?
Anything with a CM or CPM in the steel name. So yes, 154CM comes from Crucible along with CPM154.
So they filed for chapter 11, which is reorganization, not chapter 7, which is liquidation and means they’re going out of business immediately. It’s probable with tariffs on Chinese steel coming into effect. Once the new administration comes in that the market is going to look very different for crucible than it does today. I’m not trying to be optimistic or Pollyanna, but one of the main challenges to a producer like crucible is state subsidized Cheap Chinese steel. And a tariff could change everything. I’m not particularly big on tariffs. But if they’re targeted to level the playing field, it could be a good move. We’ll see.
CPM-3V Bark River Kephart, CPM-3V Cold Steel Tai Pan, 4 CPM-3V blades that I've made, and four CPM-Magnacut blades I've made.
My SHTF knife is a 3v. I use it all of the time and I have only sharpened it 2 times in 2 years. That knife is a Smith and Sons.
I have an S30V Manix 2, SPY27 Para 3, and a 3V SRK (thanks to you haha). Hopefully this all works out in terms of continued production!
Well, if they do close, they might be able to license their formulas. So, I don't think this steel will disappear. It'll get picked up if CPM closes. More importantly, is that the employees end up okay.
That is sad to hear. Looking at Crucible’s history, I imagine they have been feeling the same decline that made Detroit what it is today. I’m guessing they have been struggling along the last twenty years or so with old outdated equipment in worsening economic conditions, to again be looking at insolvency and wanting to sell. Sadly the knife industry is a small part of what has keep them alive. What ever happens, I hope the best for all involved in making such valuable products for so many.
As an employee, you hit the nail on the head
I hope all turns out well for you...Cheers!
Chater 11 is not straight bankruptcy. Chapter 13 is straight bankruptcy where the company seeks liquidation. In Chapter 11 the company tries to negotiate a reorganization with its creditors in order to continue to operate going forward. They often look to combine with a larger firm with a stronger capital position. They can also seek to sell assets to pay down debt. So they may be able to continue as a going concern if their reorganization is successful. That of course would be the best outcome.
Bankruptcy doesn't necessarily mean the end yet. we shall see.
Agreed. They are warning that chapter 11 is possible. Chapter 11 is a mechanism to restructure debt that allows a company with financial problems to get things sorted with the agreement of their creditors. It’s not an execution.
Yes hopefully they get this worked out and come out stronger.
Yes Chapter 7 I believe is a sell off. I worked for Tops Market's in NY they filed bankruptcy to restructure and screw over the employee's that were in the teamsters union... Still around. I lived through a few different ownership over the 20 years with them. @@mpttomb7839
@@gideonstacticalit's a pretty important point to cover that it's chapter 11 and not chapter 7. The company will still be around and producing steel, trying to get out of it.
Rocking the mini adamas cpm cruwear
Bet prices will go up even more
So what do we sit with 440C or 1095 type steels?
No. There's German manufacturers. Carpenter still exists in the U.S. Japan still makes high end steel. There's other companies in the U.S. that could also step in and fill the void. But, and this is important, bankruptcy does not mean the company will no longer exist. They could sell the company, or part of it. Chapter 11 basically allows the company to continue operation while they try to pay off their debts or dissolve them generally.
Chapter 11 bankruptcy isn’t the bad one. It’s not good, but not the kiss of death so to speak. Chapter 7 is the one that basically means the company is dead. I really hope Crucible manages to stay afloat as I’m sure everyone does in the knife community.
Despite the economy, the knife industry is booming, knives and its steel aren't going away. Someone will figure something out. Call the steel whatever you want, but innovation will continue to develop, and us as the end user we will continue to reap the benefits of quality blade steel and all around performance. It's definitely a bummer those employees are getting let go, but like you said they are obviously really good at what they do and plenty of other companies would be glad to have them on their team. Thanks for the update, GT. Keep up the good work.
Is the American knife industry booming?
Filing for Chapter 11 doesn’t mean you’re going out of business. Chapter 11 is just filing to re-organize. If you were filing chapter 13 then you’re going bankrupt. I have worked for several companies that filed chapter 11 and there was really no change to workers employment or the business as someone from outside the company would see it. Chapter 11 just gives them protection from their creditors while they re-organize. So I don’t think it’s as bad as you feel it is.
Magnacut and cruwear are the absolute best. My collecting days are over but I'm considering getting a few more knives in each.
Hope they can work something out and keep on operating. Unfortunately may be rough on a lot of their employees do not think there is exactly a huge demandbfor steel workers. Sad state of affairs.
Bankruptcy doesn't necessarily mean the company is closing. It's become common practice to "reorganize dept".
I'd guess one of the larger knife manufacturers could also step in.
I hope the government will help or some company will buy it and keep manufacturing it.
This is big big news. (Also not good news just before Christmas.) In fact probably the biggest news since Crucible (+ Chris Reeve) released S30V - powdered metallurgy stainless steel specifically for knives. Crucible make so many premium (esp. powder metallurgy) steels - S series, M series, V series, REX series and of course most recently MagnaCut. Obviously not the end for knives but if Crucible does go under it will leave a big hole. The other issue Aaron didn't mention relates to whether or not other manufacturers can ramp-up production to cover the sudden gap in the market. Time will tell .....
So now we're left with only Bohler and carpenter steel's to choose from, sanvik maybe 🤔there's really nothing else good out there that i know of? Somebody's gotta buy crucible!!
I sure hope so!!
There's still plenty of serviceable steel available.
Now you are worried after buying chinese made knives for the last 3 years? Really? How did you think this would turn out?
@@Lawyerboyleslie72 rather presumptuous to assume that I've been buying Chinese made knives for the past 3 years. Where did you purchase your logic from? Why don't you blame all the corporations that sold us out by outsourcing, are you capable of understanding that or are you 12 years of age?
@@Lawyerboyleslie72 most Chinese companies use crucible steel. WE and Kizer both use a ton of S35VN in particular. American vs Chinese made makes exactly 0 difference to Crucible.
CPM has simply revolutionized metallurgy. Seems hard to believe that it is not a financially viable endeavor. Hopefully they'll get past this -- and without getting anywhere near politics, it's so important we save these types of US industries.
If you bought a Reate or Civivi or WE or the like, you failed Crucible.
The PM is the important part. Powder Spray when it's in liquid form? Only Crucible does PM in the USA? I think it's just Bohler, Hitachi and Crucible?
If we go down.... My guess (because I don't know for sure, this is just intuition/gut feeling speculation) would be to look to Carpenter Tech. Given that they already have PM capabilities, their facility would be best suited to continuing production of Crucible's "recipes".
Oh I don’t FN like this! Where can we donate?
So far my favorite Spyderco steel is Spy27 it has similar edge retention to S30V & similar toughness to S35VN & better corrosion resistance than the other two. I also like S45VN it's kind of like an in-between the other two but with a bit better edge retention.
This surprises me, especially with the state of the knife industry right now. It's been booming for the last decade or better.
All By Design we are bieng destroyed within as a country.
The US knife industry is booming?
@johnj.baranski6553 did I say US? Sure didn't. How many Chinese knives do you see with CPM steel these days
It’s also Magnacut, S35VN, S30V, S110V, etc.
Timely. I was most likely already going to pick up a Reiff S5 (even though I'm not a big fan of scandi, I still want one good one just for because), but now....Juuuuust in case, I may pick up an extra knife or two. Christmas bonus goes in Friday....I'll spend a grand and really never "need" to buy another knife, having redundancy in magnacut/3v that cover dedicated skinners, bushcraft, survival, EDC. I doubt CPM just disappears, but stock availability, price increase if production slows or is stalled (and you know once it goes up, price is never coming back down). Best to just get it now.
Many politicians and government operatives (thankfully, many of them now outgoing) have gotten rich off foreign lobbyists who have bribed their way into the American marketplace and placed unfair competitive burdens on domestic companies. Imports have flooded in and almost ruined the local producer. This is why we are hearing talk of tariffs on imports. It's to give our own companies a chance to get off life support and get into the black again. Let's hope that happens.
Thanks for the update
I have only one knife with "super steel". It is a Spyderco Paramilitary 2 with CPM Cruwear. I love it. I hope and pray that things work out for Crucible.
Such a bummer, I hope they can figure out a solution. Launch 16 CPM M4 and Kansept Fenrir S35VN are my two favorites that I own.
So are you saying if I've been on the fence for a Magnacut knife I should get off my butt and buy it now?
MagnaCut isn’t gonna go anywhere and hopefully CPM will still exist, but I’m off chance they do not someone else maybe manufacturing it by the end of the year 2025.
re organizing doesnt mean its gone for good. they will just be closed down for a period of time
Aw, shit. I hope Crucible pulls through. I needs me my fancy steels.
I have with me today the Spyderco Smock and the Benchmade mini Crooked River, both in CPM S30V
The cost of doing business has increased dramatically in recent years. Look at how much you pay for food, either in the grocery store or restaurants. The minimum wage being so high means that costs to businesses have increased dramatically, along with higher taxes, etc. Hopefully the Board of Directors at CS can save the company. I imagine some people will be let go though. Too bad. Thanks for the info. Aaron.
Wow. Thanks Gid for keeping us informed. Your channel is critically important in so many ways these days.
My pleasure!
Yet he isnt taking any responsibility for this? Every positive review of a chinese made knife was a nail in Cricible's coffin
@@Lawyerboyleslie72 it is not a requirement for a knife to be made with crucible steel to be useful.
My pm2 S45VN, it stays so damn sharp. Been eyeing a magnacut knife for a min
Their contributions as far as research and development of different steels and processes go is beyond legendary and critical to any industry that uses metal in one form or another.
Man this is depressing. 3V and Magnacut are my favorite knife steels. Looks like I have a reason to spend more money on knives. I'm going to have to buy backups of my favorites.
Crucible makes the tool steels, where do they get their raw materials from? I'm just worried any future import/export tariffs may put even more pressure on them. They may just push all the tax increases down to the customer. May not even be relevant. But I'm curious.
Buy all the CPM knives up now! Scarce resources bring higher prices!!!
Thanks for the information. This seems weird to me. For years the knife and tool market were kinda slow and stagnant. Now the knife world is growing like crazy and the biggest blade material company is going bankrupt due to debt? It just seems very suspicious to me. I am praying that somehow the workers can keep their jobs or move one to better things. What a terrible time of year to go through this. 🙏🏻
Cpm 3v and cruwear both in BRK's now I need something in magnacut asap
When you, as a knife manufacture, not steel manufacture, that has jumped on the trend of increasing knife prices well past what most hobbyists are willing to pay, creates a domino effect when the community stops buying. If production slows for these types of companies, it puts a major strain on margins. Ironically, this will make prices go even higher short term, compounding the problem even more.