Crane Cams closes shop

[Jeff88coupe]

http://www.news-journalonline.com/NewsJournalOnline/breakingnews/crane022409.htm

[R825OH]

Damn that is sad..... They should get a bailout!!!

[cstreu1026]

and with it goes a little bit of history.

[2Kblacksleeper]

It is really sad to see a company like this go under.

JOhn

[Mista Bone]

read about it yesterday on www.yellowbullet.com , haven't checked in since.

[RACEME]

Sounds like some big money guys may be bringing it back sometime in the future, but we will have to see. I just hope some overseas guys don't get it and use the good name to sell china crap.

[graysonracin]

Wonder what is going to be next? I have been trying not to get caught up in the way things are, i dont even watch the news anymore, but even still its starting to hit pretty hard that we are screwed more than i ever wanted to believe, im feeling it in my wallet like most of us im sure, but theres nothing we can really do except skimp and penny pinch on everything and still, that doesnt really help out that much. Sorry for the mini rant:)

[Mista Bone]

rumor I've heard is Comp Cams might buy their assets, Holley in no shape to absorb them.

[Mista Bone]

Wonder what is going to be next? I have been trying not to get caught up in the way things are, i dont even watch the news anymore, but even still its starting to hit pretty hard that we are screwed more than i ever wanted to believe, im feeling it in my wallet like most of us im sure, but theres nothing we can really do except skimp and penny pinch on everything and still, that doesnt really help out that much. Sorry for the mini rant:)

exact opposite here. What is happening now is what I went thru 3-4 years ago. Losing job, then house, etc. I've been in discussions with a local RC Tire maker, looks like I'll be able to set my own hours with in reason. This will allow me to keep current courier route and work 25-45 hours a week making tires.

IMHO 2012 before this shit storm gets turned around or we find out the Mayans were right.

[rush88GT]

Looks like they are planning to reopening in a few weeks.
http://www.autoweek.com/article/20090227/CARNEWS/902279984

[Mista Bone]

Looks like they are planning to reopening in a few weeks.
http://www.autoweek.com/article/20090227/CARNEWS/902279984

Don't think so...............



PRESS RELEASE:

LIQUIDATION OF CRANE CAMS, INC. ANNOUNCED

Complete High Performance Camshaft Manufacturer
All Machinery, $2+ Million in Inventory, 16 Trademarks & 3 Patents for Sale

LiquiTec Industries, Inc. has been engaged to liquidate the assets of Crane Cams, Inc., one of the world's largest independent manufacturers of camshafts, valve train components and electrical ignition systems for the performance industry. Established in 1953, Crane Cams® is a brand name recognized for high quality, precision products that are race-proven to withstand the rigors of competition. Product applications include automotive, motorcycle, marine, aircraft and other specialty markets.

The sale includes all machinery; all raw materials, work-in-process and finished goods including over $2 million of high performance and racing application engine components including camshafts, rocker arms, lifters and other parts for most GM, Ford and Mopar engines; 16 patents and three patents.

LiquiTec is accepting bids now for inventory, trademarks and patents. An auction sale of all remaining inventory and machinery will take place on Wednesday, April 22, 2009 at the company's former headquarters in Daytona Beach, Florida. The sale will also be broadcast over the internet via BidSpotter.com. For more information or to register to attend the sale, contact LiquiTec at (800) 852-9252.

[mustangjon]

some good news here, apparently they were bought this is directly from their website


CRANE CAMS ACQUIRED BY MIKRONITE® TECHNOLOGIES

Crane Cams, a leading manufacturer of camshafts, valve train and electronic ignition components, has been acquired by Mikronite Technologies Group, Inc. of Eatontown, New Jersey. Mikronite is an industrial technology firm with contracts in the aerospace, automotive, commercial and medical fields. Crane Cams and Mikronite have enjoyed a business association for over a year, utilizing Mikronite’s proprietary surface finishing process on a number of valve train components.

Jeffrey H. Coats, President and CEO of Mikronite and now Executive Chairman of Crane Cams, is pleased to announce that R. Lance Harris has joined Crane Cams as Chief Executive Officer. Coats said, “Lance has a solid track record in operating manufacturing companies engaged in sales, engineering and production of powertrain and driveline products, and will a great asset to Crane Cams.” Prior to joining Crane’s management team, Harris held executive positions at FormTech Industries LLC, GKN, and MascoTech Inc. He started his career as an engineer with General Motors Corporation.

Gene Ezzell, formerly President and CEO of Crane, has now become the President of Mikronite Automotive Technologies and will focus on developing new business for Mikronite in the automotive and industrial fields. All other current Crane Cams personnel will essentially remain in place, and customers should enjoy a seamless transition. The company will continue operations at 530 Fentress Blvd. in Daytona Beach.

Commenting on Crane’s future, Harris said, “We are making a significant investment in inventory, manufacturing capacity, and product development to drive performance at every level. We will demonstrate our commitment to the industry as we execute a strategy that is focused on positioning Crane Cams as a dominant supplier in the marketplace.” The company was founded in 1953 and has accounted for an unprecedented number of industry innovations and racing wins.

[Gearhead]

some good news here, apparently they were bought this is directly from their website


CRANE CAMS ACQUIRED BY MIKRONITE® TECHNOLOGIES

Crane Cams, a leading manufacturer of camshafts, valve train and electronic ignition components, has been acquired by Mikronite Technologies Group, Inc. of Eatontown, New Jersey. Mikronite is an industrial technology firm with contracts in the aerospace, automotive, commercial and medical fields. Crane Cams and Mikronite have enjoyed a business association for over a year, utilizing Mikronite’s proprietary surface finishing process on a number of valve train components.

Jeffrey H. Coats, President and CEO of Mikronite and now Executive Chairman of Crane Cams, is pleased to announce that R. Lance Harris has joined Crane Cams as Chief Executive Officer. Coats said, “Lance has a solid track record in operating manufacturing companies engaged in sales, engineering and production of powertrain and driveline products, and will a great asset to Crane Cams.” Prior to joining Crane’s management team, Harris held executive positions at FormTech Industries LLC, GKN, and MascoTech Inc. He started his career as an engineer with General Motors Corporation.

Gene Ezzell, formerly President and CEO of Crane, has now become the President of Mikronite Automotive Technologies and will focus on developing new business for Mikronite in the automotive and industrial fields. All other current Crane Cams personnel will essentially remain in place, and customers should enjoy a seamless transition. The company will continue operations at 530 Fentress Blvd. in Daytona Beach.

Commenting on Crane’s future, Harris said, “We are making a significant investment in inventory, manufacturing capacity, and product development to drive performance at every level. We will demonstrate our commitment to the industry as we execute a strategy that is focused on positioning Crane Cams as a dominant supplier in the marketplace.” The company was founded in 1953 and has accounted for an unprecedented number of industry innovations and racing wins.

I think Mikronite bought them back in 2006/2007, this is still on Cranes website from back then.
Although, I've heard that Scorpion Technologies might be interested in buying what's left of their inventory and equipment.

[mustangjon]

ah thats possible someone posted up on another board that linked cranes page i didnt see a date.. guess possible hopes are up