a metallic housing utility knife and method for making the device with a soft over molded elastomeric cover to provide blister free comfort and slip proof safety . the cover or skin is molded into the unique structure of the housing in a fashion that results in mechanical bonds that embrace the cover on the housing . the knife includes flexible posts from the cover that project into the blade storage compartment of the housing to prevent internally stored spare blades from moving within the storage compartment . an elastomeric blade clamp integrally formed with the cover serves to restrict lateral movement of blades of varying sizes when installed in a cutting position within the knife assembly . a rear quick release latch and interlocking housing sections provide a convenient way to open and close the knife and assure that it is also secure and firmly held when locked in a safe cutting position .