No tanks from PST?

[The Chairman]

This was sent to me from PST this morning...

PST-Scuba
A Division of Pressed Steel Tank Company, Inc.
1445 S. 66 Street
Milwaukee, WI 53214
Phone: (414) 476-0500
Fax: (414) 476-9881


News Release


PST-Scuba Addresses Industry Concerns and Questions

Organizational Changes, Relocation and Product Availability

Milwaukee, February 27, 2006

Since 1902, Pressed Steel Tank Co., Inc. has manufactured a broad line of steel cylinders in their West Allis, Wisconsin production facility. New technologies and changing markets required Pressed Steel Tank to make significant changes to their product lines over recent years. To improve manufacturing efficiencies and retain their high quality of aircraft and scuba cylinders, the Company was forced to downsize, leading to a relocation of their production facility.

In a move designed to facilitate the relocation and reorganize the Company under a healthy financial position, Pressed Steel Tank has filed for receivership in Milwaukee County Circuit Court. It is expected the Company will be sold within the coming months. During the receivership period, production and shipment of most PST-Scuba cylinders will be suspended. Information concerning the Company’s reorganization, relocation and future product availability will be announced as soon as possible.

PST-Scuba looks forward to serving the cylinder needs of the scuba diving industry for many years ahead. Please look for ongoing informational updates at www.pstscuba.com.

 

[SDAnderson]

This was sent to me from PST this morning...

Sad to see this happen. Anybody that has some of the LP104's in good shape, I'm a buyer. PM me.

 

[Hoosier]

StSomewhere:
I understand your point and to some degree you're correct. I only control the dive store price, not what price they're retailed for.

Though, several factors are different now verses the past. One, I work with Sea Pearls to meet Worthington's huge minimum requirements to manufacture our steel cylinders. Yet, XS Scuba also competes against Sea Pearls to provide dive stores with the best service, delivery and pricing. In the past, the 3442 psi cylinder was exclusively available through PST.

Two, in the past the demand for these cylinders far exceeded the limited supply. This drove retail pricing to premium levels. Now, if I do my job right, we'll be in stock of all thirteen size cylinders, every day of the week. Supply won't be the fault of Worthington. The Tilbury factory has the capability of manufacturing more steel scuba cylinders in three weeks then the whole planet uses in a year.

Lastly, as Sean posted, Faber now manufactures 3442 psi cylinders with a painted finish.

Time will tell, though it's my guess that you will see little increase Worthington cylinder retail pricing in the immediate future.

Mike, the price goes up to $389.95 for 130CF as you may know.....:06:
Is there any place to get the recent same promotion.....

 

[SDAnderson]

The Business Journal of Milwaukee - March 3, 2006

Receivership nixes Pressed Steel's move

"As a court-appointed receiver continues to seek a buyer for Pressed Steel Tank Co., the deal is off for the company's planned move from West Allis to the Tower Automotive Inc. complex in Milwaukee."

Check out their archives for five or six years of stories about the efforts of West Allis to condemn the property so that it could be sold to politically connected developers.

 

[royalediver]

PST's plant in West Allis is an embarrassment to the community, boarded up windows, unkempt property, etc. The city did an inspection on it for code violations and found that to bring it up to code was more than the property was worth. The place looks like something out of a depression era movie. PST did not put ANY money into the plant or property for what looks like 50+ years. They made a good product, but were terribly managed. No reliable production for the dive stores in three years! They self destructed , don't blame it on the City.

By the way PST announced 6 years ago it was moving, long before all of this.
http://www.bizjournals.com/milwaukee/stories/2000/03/06/story3.html

 

[StSomewhere]

If the plant was an embarrassment for 50+ years, obviously the "city" of West Allis should've realized it long before now. I can't help but wonder if this is just another case of a local government trampling on individual property rights?

 

[SDAnderson]

PST's plant in West Allis is an embarrassment to the community, boarded up windows, unkempt property, etc. The city did an inspection on it for code violations and found that to bring it up to code was more than the property was worth. The place looks like something out of a depression era movie. PST did not put ANY money into the plant or property for what looks like 50+ years. They made a good product, but were terribly managed. No reliable production for the dive stores in three years! They self destructed , don't blame it on the City.

By the way PST announced 6 years ago it was moving, long before all of this.
http://www.bizjournals.com/milwaukee/stories/2000/03/06/story3.html

According to the story, six years ago an unidentified developer made an unsolicited bid for the property in a deal that didn't work out. The following year, the community of West Allis suddenly decided that the facility they had somehow managed to live with for generations was an eyesore and something needed to be done about it. After years of legal skirmishing and increasingly aggressive tactics, the property was seized so that the land could be turned over to developers. That's undisputed.

It's a steel plant. They've always been ugly. I can't say that I blame folks for not wanting to live next to it but it's been there, in it's present condition, for a lot longer than any of it's neighbors. Pure, plain and simple, West Allis didn't take this property because it was in the way of a road or other public works project. They took the property because a connected developer couldn't find a way to make the deal happen and he was able to convince the city that his project would boost tax revenues and look prettier. I live in Chicago and even by our admittedly loose standards that's a pretty shady deal.

It's not that PST hasn't had other problems and made some mistakes but since when does that give the city the right to punish those decisions? Even if that is a legitimate city function, taking PST's facility away from them and destroying their business (including the hundreds of jobs that have been lost) seems to me to be a bit draconian.

It used to be that private property rights were fairly sacrosanct. No more.

 

[The Chairman]

Interesting take on all of this. For the record, we hate to see them in this predicament.

 

[royalediver]

According to the story, six years ago an unidentified developer made an unsolicited bid for the property in a deal that didn't work out. The following year, the community of West Allis suddenly decided that the facility they had somehow managed to live with for generations was an eyesore and something needed to be done about it. After years of legal skirmishing and increasingly aggressive tactics, the property was seized so that the land could be turned over to developers. That's undisputed.

It's a steel plant. They've always been ugly. I can't say that I blame folks for not wanting to live next to it but it's been there, in it's present condition, for a lot longer than any of it's neighbors. Pure, plain and simple, West Allis didn't take this property because it was in the way of a road or other public works project. They took the property because a connected developer couldn't find a way to make the deal happen and he was able to convince the city that his project would boost tax revenues and look prettier. I live in Chicago and even by our admittedly loose standards that's a pretty shady deal.

It's not that PST hasn't had other problems and made some mistakes but since when does that give the city the right to punish those decisions? Even if that is a legitimate city function, taking PST's facility away from them and destroying their business (including the hundreds of jobs that have been lost) seems to me to be a bit draconian.

It used to be that private property rights were fairly sacrosanct. No more.

If you think that's shady don't look to deep into the receivership deal.

 

[royalediver]

According to the story, six years ago an unidentified developer made an unsolicited bid for the property in a deal that didn't work out. The following year, the community of West Allis suddenly decided that the facility they had somehow managed to live with for generations was an eyesore and something needed to be done about it. After years of legal skirmishing and increasingly aggressive tactics, the property was seized so that the land could be turned over to developers. That's undisputed.

It's a steel plant. They've always been ugly. I can't say that I blame folks for not wanting to live next to it but it's been there, in it's present condition, for a lot longer than any of it's neighbors. Pure, plain and simple, West Allis didn't take this property because it was in the way of a road or other public works project. They took the property because a connected developer couldn't find a way to make the deal happen and he was able to convince the city that his project would boost tax revenues and look prettier. I live in Chicago and even by our admittedly loose standards that's a pretty shady deal.

It's not that PST hasn't had other problems and made some mistakes but since when does that give the city the right to punish those decisions? Even if that is a legitimate city function, taking PST's facility away from them and destroying their business (including the hundreds of jobs that have been lost) seems to me to be a bit draconian.

It used to be that private property rights were fairly sacrosanct. No more.

The city punishes all of its citizens for not maintaining their property within reason. Try not mowing your lawn for the summer!