The Daytona Beach News-Journal, is reporting the 56-year-old Daytona Beach, Fla., company has been shuttered and its workers laid off.
Crane's parts have become synonymous with performance and have been used by A.J. Foyt, the Wood Brothers, Bill Elliott, Richard Petty and many other well-known drivers.
The company first made a splash at the 1961 NHRA nationals, when a dragster using Crane roller cams was piloted by "Sneaky" Pete Robinson to the Top Eliminator award, breaking records and upsetting more established competitors in the process.
The visibility by Robinson's success and that of other racers using Crane parts helped the company grow in the 1960s as the Detroit automakers and racing thrived.
Crane Cams was founded in 1953 and had grown into a multi-million manufacturing operation, according to its Web site.
In late 2006, it was acquired by Mikronite Technologies Group Inc. of Eatontown, N.J.
The closure was apparently a surprise, as local officials were attempting to work a deal to keep the company open, according to the newspaper report.

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





>>>For Sale? Clicky!<<<
-----The orginal Mr.Goodwrench on the JBO since 11/99-----

Ok-ok some else posted on this news.



>>>For Sale? Clicky!<<<
-----The orginal Mr.Goodwrench on the JBO since 11/99-----

Mikronite: They made hardened finish-coatings, didn't they?


Go beyond the "bolt-on".

i just died a little inside.....they give my engine breath.

my whole valvetrain was Crane.

yeah now the rest of us are screwed!

Crane Cams Auctioned Off

News Journal Online wrote:April 22, 2009

Crane Cams auctioned off

By BOB KOSLOW
BUSINESS WRITER

DAYTONA BEACH — About 100 registered bidders showed up today, with many others watching on line, to buy machinery, equipment, parts and pieces, inventory and the intellectual property in Crane Cams’ liquidation sale.

The Fentress Avenue company, which for 56 years here manufactured camshafts and other auto parts for high performance automobiles, closed its doors in late February, leaving about 280 people unemployed.

Confusion reigned for several weeks as Scorpion Performance, based in Fort Lauderdale, attempted to buy it from Crane Cams’ parent company, Mikronite Technologies, with a goal to reopen the business. But, at the same time, Crane Cams officials hired LiquiTec Industries to sell off the assets to repay company debt.

At the start of the 10 a.m. auction, LiquiTec’s chief executive officer and auctioneer Andy Gronik read a statement from Wachovia Bank saying the auction was not a foreclosure sale and Crane Cams had hired the company to liquidate the property.

The bidding opened with Scorpion representatives bidding $1 million for all the assets, but an online bidder offered $1.1 million.

The offer went for naught as a bidding team of former Crane Cams CEO Lance Harris and Wisconsin-based S&S Cycles outbid the total by purchasing Crane Cams’ patents and trademarks for $1.2 million. The team also bought the parts inventory for $215,000.

Top Line Automotive out of Chicago bid $200,000 for the machinery and equipment, but LiquiTec officials expected that bid not to hold through the day as the 800-plus lots are expected to sell in total for more than $200,000, thus being sold piecemeal.

Winner bidders have until close of business Thursday to pay for their purchases and remove them from the Crane Cams building within a month.

interesting..

maybe ill get back that big money they screwed me out of after all. (since they're repaying debt and all)







I'm tired of wasting my time... now I'm breakin' free.