The Post Standard reported that an auction is scheduled for the Crucible Specialty Metals steel mill in Geddes. BlackEagle Partners LLC, an investment company, submitted a bid, the deadline for submitting bids.

Mr Michael Madden co founder & MD of BlackEagle declined to disclose details of the bid. He said that "I'm hoping we can bring this one home for Central New York."

BlackEagle, which specializes in rescuing under performing or troubled businesses, has been the only company that has publicly expressed an interest in the Geddes facility.

Members of the United Steelworkers of America voted on September 4th 2009 to accept pay and benefit cuts requested by BlackEagle as a condition for the company buying the facility and keeping it running. Crucible employs 693 people, about 550 of them union members.

The plant’s owner, Crucible Materials Corporation, filed for bankruptcy May 6th 2009, citing a significant drop in demand for its steels, particularly for its automotive valve steel.

(Sourced from www.syracuse.com)