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Crucible Industries, a longstanding steel manufacturing company in Central New York, may soon close its doors. The company has filed a notice with the state, indicating plans to shut down its plant on State Fair Boulevard in Geddes by March 19, 2025. This closure would result in the loss of 158 jobs.
The company, which has been a significant player in American steel manufacturing since 1900, is grappling with severe financial difficulties. In a letter to employees on December 5, Crucible stated it is likely to file for Chapter 11 bankruptcy protection, which could allow it to continue operations if a buyer is found. However, if no buyer emerges, the plant will close.
Crucible Industries has a rich history, having continuously produced specialty steel in Syracuse since 1876. The company holds over 1,000 patents and has supplied metals for notable projects, including artificial hearts and the renovation of the Statue of Liberty.
The potential closure of Crucible Industries is a significant blow to the local economy and the community, which has relied on the company for over a century. The company covers more than 65 acres on the Solvay/Geddes town line.
The situation remains uncertain, and the future of Crucible Industries will depend on its ability to navigate its financial challenges and possibly find a buyer to keep the plant operational.