crane cams

[mudseeker]

Breaking news - newsjournalonline.com


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.

[75K30]

Terribly unfortunate for all of the workers and families that this will effect. Many companies have delt with this exact thing recenty, and far to offten I might add.
However, in the case of Crane, it is very likely that the entire company or at least several lines will be bought by another manufacturer, and depending in the status of the facility, might just re-open under another name. With any luck, the majority of the employees will be brought back and positions returned.
Closing in such a manner while unfortunate is often necessary during this process.
Precision Gear just went through this, as well as other large performance aotumotive oriented companies.
Fingers crossed for those folks.

[mudseeker]

CraneCams

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.

[merlin5577]

Oh man, thats horrible. They made some great stuff.

[leolkfrm]

They used to have a tour and BBQ during bike week that was awesome, Thay were making the cams for Harley, wonder if they still did

[bradrhale]

i wonder who is going to take over the huge sign spots they currently possess at every car or truck ralley, race, or show.

[leolkfrm]

maybe it's just daytona closing
Crane Technologies Australia

[Rago]

I guess I'm behind in times. I just found out while surfing around. That's a **** shame cause Energizers are the only rocker arms I use. Guess it was coming, with all of the changing of hands & being a few years behind in developing new cam technology. I mean, Google Z cam then Google Xtreme Energy or Voodoo cam & see which turns up more results on the net & who's using what.

Maybe with hope, someone WILL pick up the company or at least some of their better products like 75K30 said. More than likely, Summit or Jegs will buy out the rights & make all new "S Cams" or "Jeg's quick lift Roller Rockers" for cheap. That could be good or bad depending on how you look at it.

[stumpuller454]

Dang ,guess i shoulda bought a cam for this puppy to support them!!!

[98k1500]

Originally Posted by stumpuller454

Dang ,guess i shoulda bought a cam for this puppy to support them!!!

you and me both... a couple of 454s cammed out... i feel bad for all the families of the workers man, not even a warning... that would totaly blow... what a rip... crane was supposed to be good too, i wouldnt buy any comp junk...