Hey there People of the Knife. It is mid month, and as we are wont to do, it is time to share the Knife News column from our February issue.
We do this, not because it is the most timely, in fact, most items have been covered online in some way shape or form. We do it as a record of what we think are the most noteworthy things happening, whether it is a new release, industry news, or perhaps something knife law related.
If you are a Premium Online Member, you can read the whole issue online in the Member Area.
I am going to break with protocol a bit and include my March issue update on the Crucible situation, as what I wrote at the beginning of January is particularly out of date. You will find it below this one…
Crucible Industries files for Chapter 11, faces possible closure.
On December 17, New York based specialty steel producer Crucible Industries announced that it had filed for bankruptcy protection Chapter 11 bankruptcy protection. This follows an earlier New York “WARN Act” filing, giving the State and company employees notice of the likelihood that their Geddes, New York plant would be closing. They cited “Economic Reasons” as the reason behind the closure.
Crucible has been manufacturing steel in upstate New York since 1900. They previously filed for Chapter 11 in 2009, prior to the company’s acquisition by JP Industries, a private equity firm out of Cleveland, Ohio. Production resumed later that year.
This will have implications across the knife industry. Crucible is responsible for a great number of popular steels, anything with a CPM (Crucible Powder Metal), including the Uber-popular MagnaCut. They use their proprietary formulas to produce the raw steel (known varyingly as ingots, slabs, or transfer bars), which then undergoes further refinement before it is sold to the ultimate end-user.
An independent, but close partner of Crucible is Niagara Specialty metals. They are the company that takes the raw steel slabs from Crucible and refines them further into the kinds of usable stock that is then sold to companies or makers.
According to a company statement from Niagara, “We’ve taken proactive steps to maintain a strong supply chain and ensure uninterrupted service for the cutlery industry. We have already placed orders with Erasteel, Carpenter Technologies, Ellwood Quality Steels and Universal Stainless who will provide the same high-quality products and the same exact chemistries. We have been processing their cutlery and/or aerospace alloys for several years and their quality has always been outstanding. Although there may be a brief adjustment period during this transition, our team is committed to minimizing any disruptions and maintaining the service and product quality you have come to expect from us”.
Where does this all lead? While there are numerous potential outcomes, two potential scenarios are the most likely. The first is that the company does in fact shut down in March, and the company’s assets and intellectual property are put up for auction. The disposition of the trademarks is of particular interest, as chemically equivalent steels may be brought to market, but they will need to be rebranded.
The second outcome is that a buyer will be found. According to media reports circulating at the time of this writing (Dec. 31st), European steel company Erasteel (mentioned in the Niagara statement) is being named as a potential buyer that is in talks with Crucible. This could be a good thing for all involved as it would preserve jobs and economic opportunities for the residents of Geddes, but would also allow Erasteel to produce steel in the United States, thereby avoiding potential foreign steel tariffs that my arise during the new administration.
This is a rapidly developing story. The best way to stay abreast of the latest details is by visiting www.KnifeMagazine.com . Updates will be found on our daily newsfeed.
This is my update from the March issue (written 1/29/25)
Baring Miracle acquisition bid, Crucible Industries to shut down by end of February.
In February’s Knife New column, we posited two likely outcomes of the Crucible Industries Chapter 11 Bankruptcy filing. At the time of that writing (January 2nd), European steelmaker Erasteel had entered into talks with the company. The first outcome was that the company would be purchased, and production would continue at Crucible’s Geddes, New York facility under new ownership. The other was that the company’s trademarks, patents, and Intellectual Property would be sold and the company shut down.
Unfortunately for the 170 Crucible workers whole livelihoods are affected, it appears the latter will be the case barring an unexpected bidder entering the mix. According to Syracuse.com,
“In a filing in U.S. Bankruptcy Court, a committee of Crucible’s unsecured creditors said Erasteel has no intention of operating the company’s mill and only wants its assets, in particular its trademarks and patents”.
“The stalking horse purchaser does not intend to operate in the debtor’s business location but rather will remove the purchased assets and transfer them elsewhere,” the committee said. “It is not clear that the stalking horse purchaser will use any of the assets other than the debtor’s valuable intellectual property in its operations.”
As we mentioned last month, Niagara Specialty Metals, who refines Crucible’s raw products and sells them in usable form, is taking steps to ensure equivalent steels can be sourced and distributed. If Erasteel is purchasing the trademarks and IP, it would follow that they intend produce and market these knife steels themselves, and in time the supply chain will stabilize.
This story is developing, catch the latest on the KnifeMagazine.com webpage. You will find coverage in our newsfeed section.
back to February Knife News…
AKTI Reintroduces “Interstate Commerce Act”
As it is with firearms, one of the biggest problems one may face when traveling with a knife is the patchwork of regulations and restrictions for carry that may change from one municipality to the next, and the knife that was perfectly legal at your home may be verboten when you cross an arbitrary line on a map. For many years, organizations like the American Knife and Tool Institute (AKTI), and others have been trying to rectify this situation.
AKTI is the trade group for the knife industry, and a primary advocate for knife consumers. They are active in counterfeit protection, fighting social media knife censorship, and they lobby legislatures on issues relating to knife manufacture and possession.
On the latter front, AKTI has once again introduced the “Interstate Transport Act” at the Federal level. According to Senator Ted Budd (R-NC), one of the bill’s bipartisan co-sponsors, “The Interstate Transport Act is a commonsense solution to a patchwork of state laws that will help bring clarity and provide peace of mind for the hardworking Americans that drive our economy. Every day, American workers rely on the knives in their tool belts to keep our country running. These law-abiding Americans should not have to worry that the essential tools of their trade might result in heavy fines or even jail time,”.
The Act is designed to protect a person who is in possession of a knife that is legal in its origin and destination’s jurisdictions, even if it may not be legal somewhere while in transit. It has been introduced repeatedly over the years, but has stalled each time despite passing the Senate by unanimous consent in 2018.
Keep an eye on the KnifeMagazine.com daily newsfeed for the latest updates. You can support AKTI and find out more about their work at www.akti.org
CRKT partners with Hogue on Tighe-designed OTF Auto
Tualatin, Oregon based Columbia River Knife and Tool is kicking off 2025 by welcoming Brian Tighe back into their stable of designers. Brian’s new design, called the Twist Tighe, is being produced in the USA by Hogue Knives. CRKT and Hogue have partnered several times since 2023, with designs from Ken Onion (Redemption) and Matthew and MJ Lerch (LCBK & Definitive) among their collaborative releases.
The Twist Tighe is CRKT’s first Out-the-Front (OTF) Automatic. It is a double-action OTF, meaning the blade deploys with a forward slide of the top mounted actuator button, and retracts when the button is pulled back. It features a 2.65” double-edged Magnacut blade. The carbon fiber handle is available in 3 colors, with a “twist camo” pattern on one side. The knife weighs a diminutive 1.6 oz., and measures just 3.98” in length when closed, riding discretely in one’s pocket with its deep-carry clip.
The CRKT Twist Tighe makes its debut at January’s SHOT Show. More information can be found at www.CRKT.com or by calling 1-800-891-3100. You can find Brian Tighe’s custom work at www.briantighe.com or in the cover article of the April 2020 issue of KNIFE Magazine.
Read the full article here
