Crane Cams gone after 56 years in business

[BlueVette]

I suppose we'll hear such news more frequently in the near future....
:an

Crane Cams shuts down, workers laid off  

By JIM WITTERS
Senior Business Writer

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.

The news took Volusia County’s top economic development officer by surprise. City, county and state officials were working with Crane Cams and officials from its New Jersey parent, Mikronite Technologies, to keep the company open and in the community.

“We were trying to help them through this transition,” said Rick Michael, Volusia County economic development director. “They were considering a transfer of ownership. We were not expecting any closure.”

An automated voice mail system at Crane’s plant on Fentress Boulevard announced at midday today the company was closed and suggested calling back during business hours, 8 a.m. to 5 p.m. A call to Mikronite’s New Jersey offices produced similar results. Six cars sat in the parking lot early this afternoon at the local plant, which employed 220 just three years ago.

Inside the lobby, a reception desk sat empty. A call from the lobby phone got an answer from Dennis Burgess, who declined to comment and said no one at the plant could provide information.

In the parking lot, 14-year employee Ronald Dorn was leaving the plant for what he believed was the last time

He said workers were told during the past week that layoffs were likely, but he didn’t expect the plant to close.

Mikronite received approval in 2006 to receive tax rebates from the state and the county amid discussion about moving its New Jersey operations here. But the company ended its contract with the state in 2008 due to nonperformance, Michael said.

“Crane has gone through a series of small layoffs recently,” he said.

Crane Cams and Crane Technologies Group were founded by Harvey J. Crane Jr. in 1953 as Crane Engineering Inc. in Hallandale. The company is well known in high-performance and racing circles for its line of camshafts and engine valve train components.

In 1979, Crane Cams became an employee-owned company. Some operations moved to Daytona Beach in 1981, with the remainder of the operation and employees relocating here in 1985.

Mikronite, an industrial technology firm, bought Crane in 2006.

In March 2007, Mikronite sold its property on Fentress to STAG Capital Partners of Boston, then signed a 10-year lease.
 

[Reklaw]

How sad. And Holley has been "Under Administration" for some time now. I guess it's a case of "watch this space".

[gtc]

The entire US financial system will very soon be under administration ... by the Federal Government.

Strange days indeed.

[gtc]

April 23, 2009

Viola, Wisconsin. S&S Cycle announces the acquisition of certain assets of Crane Cams Inc. Those assets include the inventory, intellectual property, and trademarks for all Crane automotive and motorcycle electronic products and for Crane motorcycle valve train products. The intellectual property portion includes designs, drawings, and cam profiles. Crane automotive valve train products are not included in this acquisition. Crane Cams was founded in 1953, and like S&S Cycle, founded in 1958, it has become a respected and iconic brand in the high performance industry.

S&S intends to continue to sell Crane products through the same distributors and dealers who have sold them in the past. To that end, they will establish a new facility in Daytona Beach, Florida to manage the business and provide customer service and technical support. This new facility will be staffed by many of the same personnel that Crane customers have worked with in the past, providing as seamless a transition as possible. While there may be some shortages of product in the near future, the Crane/S&S team will be working hard to fill back orders and meet future demand for Crane ignitions and motorcycle valve train components.

Since the acquisition does not include the Crane facility or equipment, manufacturing of valve train products will be moved to the S&S manufacturing facility in Viola, Wisconsin. S&S CEO George Smith comments: “The addition of this product line is a natural fit for our current in-house cam manufacturing capabilities as our equipment and processes are state of the art. We’re also excited that the highly successful Crane motorcycle and automotive electronics line is included with this acquisition. This will further strengthen S&S Cycle in the electronics field by providing additional expertise to improve our product offerings in late model ignitions, among other things."