It is reported that, after months of being idle, Crucible Industries LLC this week restarted its Geddes steel mill. The two melt shops where the company creates the especially hard steel needed to make machine tools and automotive valves started operations.

Mr James Beckman president of Crucible Industries said that the forge press that hammers steel into shapes began and other operations will start soon. He added that the company will be in very light production next week.

The former owners of the company, Crucible Materials Corporation, filed for bankruptcy May 6th 2009, citing the downturn in the automotive industry the major reason it could not repay USD 70 million in debts. Over the summer, customers migrated away to other suppliers as the former owners tried to sell the company, which included operations in suburban Pittsburgh, as well as the Geddes mill.

At a September 21st 2009 bankruptcy auction, JP Industries Inc, a privately held Cleveland company, purchased the Crucible Specialty Metals division in Geddes for USD 8 million. It named the new company Crucible Industries LLC.

A legal notice that ran in The Post Standard on October 27th 2009 placed the total cost of the project at USD 24.6 million, of which the state Empire Development Corporation has given the company USD 8 million in loans and another USD 1.5 million to pay for energy costs over three years.

(Sourced from www.syracuse.com)