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  #1  
Old 02-25-2009, 02:27 PM
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Stoga Stoga is offline
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Cry Crane Cams shuts down!

http://www.news-journalonline.com/Ne...rane022409.htm

"DAYTONA BEACH — Crane Cams, a 56-year-old auto parts manufacturer, closed its doors this week and laid off its employees, a worker said today. "

That's some sad news right there
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  #2  
Old 02-25-2009, 07:10 PM
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Yeah that is very sad! But I'm affraid that there will be more companies to follow. Its gonna get worse before it gets better sorry to say.
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Old 02-25-2009, 08:50 PM
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Lightbulb Very sad indeed.........

A leader at times but suffered from poor quality at times. Mostly a very good product. Hope something good comes from the ashes.
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Old 02-27-2009, 12:42 AM
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Geez, it's starting to be the end of the world as we know it. Who's next? i HEARD kelsey-hayes is in trouble too.
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  #5  
Old 03-12-2009, 09:50 PM
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I still see there stuff, who bought them?
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Old 03-13-2009, 12:44 AM
Tarrbabe Tarrbabe is offline
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Question I just went to their site....................

Are they still open? It's been a while since I was on their site but it looks updated. Any comments?
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  #7  
Old 03-13-2009, 01:23 AM
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ehostler ehostler is offline
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They were bought out. http://www.cranecams.com/?show=mikroniteAcq

Quote:

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.
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Old 03-13-2009, 04:23 PM
dgc333 dgc333 is offline
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The Mikronite buy out happened a year or so ago, much earlier than the recent announcement of the doors closing.
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Old 03-15-2009, 11:51 PM
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You are correct. That deal was about 2 years ago. So far, I have only see one news article about the current situation and that article is no longer available. All other news articles list it as the source.

At this point, it does appear that the lights were left on, when they checked out. The web hosting company will probably shut down the website fairly soon.
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Old 03-20-2009, 05:23 PM
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Here is some better information from Autoweek

Quote:
Crane Cams says it plans to reopen after restructuring
By GREG MIGLIORE

Crane Cams says it could reopen in 30 days.

Well-known cam shafts company Crane Cams shut down Feb. 24 for restructuring but says it plans to reopen, likely sometime in March.

All of the company’s 280 workers were laid off, though about 25 remain to work on military contracts. The closure was in response to the global economic problems, said vice president Steve Leva. He said the Daytona Beach, Fla., company planned to reopen in as soon as a week, or it may take up to 30 days.

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 56-year-old 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.

Robinson’s success helped the company gain recognition throughout the 1960s as racing grew and the Detroit automakers thrived.

In late 2006, Crane was acquired by Mikronite Technologies Group Inc., and Leva said $18 million has been invested in equipment since the acquisition.

Earlier this week, the Daytona Beach News-Journal reported that Crane was closing, though more details were not available at that time.

This article was last updated on: 02/27/09, 15:06 et
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