The closed Crucible steel mill in Geddes represents the end of an industrial era.
The Crucible steel mill in Geddes has officially closed after over a century of operation. This closure follows the company’s bankruptcy filing and inability to find a buyer for its assets. While new investments are anticipated, the impact on the local economy and workforce is significant, marking a pivotal change in Geddes’s manufacturing landscape.
Geddes, New York – The Crucible steel mill in Geddes has officially closed after more than a century of operation. This closure marks the end of an era for the facility, which has been a staple in the local manufacturing landscape since its inception. The shutdown was confirmed through a filing in the U.S. Bankruptcy Court on May 1, after the mill ceased all business activities and laid off its remaining employees.
Crucible Industries LLC, the parent company, initially filed for Chapter 11 bankruptcy on December 12, aiming to reorganize its operations. Despite these efforts, the company was unable to secure a buyer for its assets and ultimately faced closure. U.S. Bankruptcy Judge Wendy Kinsella approved the sale of Crucible’s primary business assets, including Crucible Particle Metallurgy, to the French steelmaker Erasteel for $17.3 million. The agreement included the purchase of steel-making equipment, trademarks, and patents, but notably does not involve any plans to continue operations at the Geddes mill.
In a separate transaction, Lauter Metal Technologies LLC acquired all remaining steel mill equipment for $1.4 million. This company is connected to Ross Castner, the principal of OptiTorque Technologies LLC. Castner has expressed intentions to reinvigorate steel production at certain facilities within the mill site and is considering relocating part of his fastener business there. However, details regarding the restoration of jobs are not yet available.
Geddes Town Supervisor Susan LaFex has expressed optimism regarding the new operations that may arise from this transition. She stated that the town is open to discussions and is eager to learn more about the future plans for the site.
The mill’s decline has been significant over the past few years. At its peak in 2009, Crucible employed approximately 700 workers; by the time of the bankruptcy, that number had dwindled to fewer than 170. This drastic reduction in the workforce reflects broader trends within the steel industry, as many manufacturers have struggled to remain competitive in the face of global market changes and shifting manufacturing practices.
Crucible’s history is rich and can be traced back to 1876 with the establishment of Crucible Steel Co. of America in 1900. The company emerged from the merger of several steel producers, including Sanderson Brothers & Co., and has since specialized in the production of unique metals tailored for specific industrial uses.
The closure of the mill not only affects the workers who have lost their jobs but also poses challenges for the local economy, which has relied on the steel mill’s operations for over a century. As the town of Geddes transitions into an uncertain future without the mill, community leaders are hopeful that the new investments and potential businesses could pave the way for economic revitalization.
In summary, while the end of the Crucible steel mill in Geddes signifies a major change for the local manufacturing sector, the potential for new operations by Lauter Metal Technologies and the exploration of additional business opportunities may offer a glimmer of hope for the town’s industrial future.
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