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February 24th, 2009

Crane Cams Reportedly Shuts its Doors


The economy has reportedly taken its toll on a legendary name in performance. The following sad news comes from news-journalonline.com. At this time, dialing up www.cranecams.com yields no return.

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.

See original story

By 67stang @ 5:46PM PST.
Category: General Interest
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14 Comments

  • 1
    danv says:

    This is a pity.
    To see one of the iconic names in the performance industry to shut down.
    Makes you wonder if there will be others following……….

  • 2
    denny says:

    pretty sad. sign of the times. whats next?.

  • 3
    Zach says:

    It’s not the economy. Crane has been a basket case for years due to poor management and lousy marketing.

  • 4
    Clemson says:

    I agree, great innovative products and technologies. However, never once have I seen even a Crane banner ad on the web. Probably just tried holding on to their old outdated ways for too long.

  • 5
    cory says:

    some say holley is the next to go

  • 6
    ranchero67 says:

    All of these small outfits that have been passed around and left with mountains of debt will not survive. Yes, Holley may go as well because of the large debt incurred in the last few years. There is no way to fund the debt that was left , from years of bad practices as Zach pointed out.

  • 7
    Tom says:

    Sad. Hate to say it, but when I was researching cams for my engine build I ran across just enough of the “not satisfied” remarks on different web sites to push my cam decision to Comp.
    I live in FL, and wanted to go local but just didn’t feel the confidence.

    Stinks.

  • 8
    Marzz says:

    Maybe they should team up with Isky Cams. They were rivals back in the late 50′s. They have become good friends since.

  • 9
    ckelly says:

    Currnet info is that they will re-open in March after reorganization. Never had a single problem with any of their products. I’ve known lots of people with junk Comp parts, so to each his own.

  • 10
    Rick says:

    Well it’s probably a combination of both – the times and poor management / marketing. We were able to get several of the same parts from Scorpion http://www.scorpionracingproductstv.com/ hope ths helps!

  • 11
    Will H. says:

    Things do not seem to be improving any at Crane. There is still no news from anyone there, only rumors, but it doesn’t look good. An online petition was started by some former employees. Please sign it to show your support of this innovative American company and it’s 250+ workers and their families. Thank you very much. http://www.ipetitions.com/petition/CraneCams/index.html

  • 12
    Dan says:

    One thing is for sure, comp must be giving a good discount to all mags. It is a good way for free adv. I still use cranes & just purchaced a new solid lifter for summit, I”ve read about cheap lifters & poor break in problems in Hot Rod, found Shell Rotel. stillhas the good additives for break in,use deisel type. Long live Crane Cams God knows we need more good Americian made products.

  • 13
    mike ippolito says:

    this really sucks,they make good stuff my crane commandrer cam is still going strong since 1996 in my street blower motor please buy american!

  • 14
    Ken says:

    Have had problems with my Crane Hi-4 Ingnition. Crane replaced it in10/08, but the new unit has failed as well. The answering machine still answers, but the mail box is full. Does anyone have information on how to resolve this issue? Thanks!

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