Crane Cams closing down
02-24-2009, 07:52 PM
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Crane Cams closing down February 24, 2009
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.
http://www.news-journalonline.com/Ne...rane022409.htm
Last edited by drz; 02-24-2009 at 07:58 PM.
02-24-2009, 08:14 PM
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Wow that sucks. And the f-ed up economy eats another company. The sad part is there will be more aftermarket companies to follow if this economy continues on.
02-24-2009, 09:30 PM
#6
Jesus, 1953 and it's going under like that. I feel bad for all the people laid off. Crane is definitely a pretty big name. People are still scared to spend money though and do agree that the economy may have nothing to do with it unfortunately. That is bad news
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02-24-2009, 10:43 PM
#10
You do realize they make more than aftermarket cams and springs right...as in STOCK ones also. They make alot of the parts used in alot of stock and aftermarket vehicles.
IMO they were screwed when Mikronite bought them, just like Chrysler when they were bought by a private company that appears to have no idea about the racing market or the automobile in general. They dont get it, so they can it because its just a waste of money to them. Their stuff was always on back order and it took a while to get things, then it just got worse and worse.
First Crane (that we know of) who next, I hear not so good things about Holley lately and Mr Gasket.
Heaven forbid the Street Warrior never comes out!!!!
It sucks for the employees mostly because the company could prob really give 2 ***** about them, its just business. In the meantime, the pres asks for our help to get the country running, isnt that what the "stimulus" package is supposed to do? We pay, where is OUR return?
IMO they were screwed when Mikronite bought them, just like Chrysler when they were bought by a private company that appears to have no idea about the racing market or the automobile in general. They dont get it, so they can it because its just a waste of money to them. Their stuff was always on back order and it took a while to get things, then it just got worse and worse.
First Crane (that we know of) who next, I hear not so good things about Holley lately and Mr Gasket.
Heaven forbid the Street Warrior never comes out!!!!
It sucks for the employees mostly because the company could prob really give 2 ***** about them, its just business. In the meantime, the pres asks for our help to get the country running, isnt that what the "stimulus" package is supposed to do? We pay, where is OUR return?
02-24-2009, 10:58 PM
#13
I know that words are words when it comes to stuff like that. There are few companies that own every aspect of the process, and i just dont see crane as making all the cam cores for a certain type and still being unable to stay afloat when they would be bought en masse from them.
You and I cannot imagine the amount of cores that are made and sold each day, not only for the custom cam grind, but for normal production vehicles. I bet it will upset you to hear that melling doesnt make their own lifters or camshafts either? Being naive helps no one.
You and I cannot imagine the amount of cores that are made and sold each day, not only for the custom cam grind, but for normal production vehicles. I bet it will upset you to hear that melling doesnt make their own lifters or camshafts either? Being naive helps no one.
02-25-2009, 07:18 AM
#15
If you go to Harvey Crane's web site, you will see he got the boot years ago and now Crane is under. Very sad day for enthusiests as competition helps all of us, even if you don't run Crane products. I sure hope other companies can hold on through this turmoil. I can't imagine that a company that makes aftermarket auto products will get a lot of sympathy from the press. Feel bad for the employee's, if you read the responses they weren't even told until Sunday night, and even then they received a call not to show up for work. Most found out in the news paper.
02-25-2009, 08:19 PM
#16
You can say who on here doesn't exactly use them... But how many stickers do you see on older Gen 1 cars let alone other makes of cars that you see at the track that have plenty of their parts. Just because 1 forum doesn't use them that much doesn't mean they aren't a valueable American company regardless IMHO.
