 Crane Cams shuts down |
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 Feb 25 2009, 02:53 AM
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Experienced Member  Group: Advanced Members Posts: 1,086 Joined: 16-January 04 From: Chandler AZ Member No.: 130  |
http://www.news-journalonline.com/NewsJour...crane022409.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. 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. |
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Feb 25 2009, 04:06 AM
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#2
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FRRAX Owner/Admin Group: Admin Posts: 15,432 Joined: 13-February 04 From: Ohio Member No.: 196 |
Wow. Crane was a technological powerhouse in the cam industry. Many aftermarket cam compaines bought blanks from Crane so they could grind their own cams. I can't believe they just closed up shop.
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Feb 25 2009, 04:21 AM
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#3
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Senior Member Group: Advanced Members Posts: 5,226 Joined: 24-December 03 From: Danville, CA, USA Member No.: 27 |
....wow.....just wow......
Wonder how soon it is going to be before more racing/performance powerhouses start falling......sigh..... |
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Feb 25 2009, 03:19 PM
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#4
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Captain Indecisive Group: Advanced Members Posts: 68 Joined: 17-July 04 From: Columbus Ohio Member No.: 406 |
QUOTE (rmackintosh @ Feb 24 2009, 11:21 PM)  ....wow.....just wow...... Wonder how soon it is going to be before more racing/performance powerhouses start falling......sigh..... We have had a hard time getting in large orders from some manufacturers lately. It seems everyone's hurting, but I didn't see this coming. |
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Feb 25 2009, 03:45 PM
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#5
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Advanced Member Group: Advanced Members Posts: 647 Joined: 30-December 03 From: Paris, Texas Member No.: 74 |
This is a surprise. (IMG:http://www.frrax.com/rrforum/style_emoticons/default/blink.gif)
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Feb 26 2009, 04:24 AM
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#6
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Member Group: Advanced Members Posts: 174 Joined: 25-January 08 From: Red Bluff Ca. Member No.: 2,094 |
(IMG:http://www.frrax.com/rrforum/style_emoticons/default/blink.gif) dis not good (IMG:http://www.frrax.com/rrforum/style_emoticons/default/unsure.gif) what's next. Crane closing is a major (IMG:http://www.frrax.com/rrforum/style_emoticons/default/nutkick.gif) to the performance lovers.
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Feb 26 2009, 04:42 AM
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#7
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CMCer Group: Moderators Posts: 2,932 Joined: 12-February 04 From: the sticks near VIR Member No.: 194 |
I know that street, Fentress, there are a bunch of famous Hi-Po shops there, I think also Russell Stainless Plumbing. It is close to the track there.
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Mar 8 2009, 12:11 AM
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#8
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Member Group: Advanced Members Posts: 239 Joined: 18-July 04 From: Columbus, Ohio Member No.: 410 |
According to Autoweek (Mar 9th), Crane plans to reopen this month - after some "restructuring".
Hopefully this news is accurate..... |
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Mar 16 2009, 04:29 PM
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#9
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newbie Group: Members Posts: 1 Joined: 13-March 09 Member No.: 4,371 |
QUOTE (bubba353z @ Mar 7 2009, 08:11 PM) According to Autoweek (Mar 9th), Crane plans to reopen this month - after some "restructuring". Hopefully this news is accurate..... It is. |
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Apr 3 2009, 12:19 PM
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#10
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Veteran Member Group: Advanced Members Posts: 3,323 Joined: 30-March 06 From: Detroit Suburbs Member No.: 1,144 |
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Apr 3 2009, 01:11 PM
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#11
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FRRAX Owner/Admin Group: Admin Posts: 15,432 Joined: 13-February 04 From: Ohio Member No.: 196 |
QUOTE (StanIROCZ @ Apr 3 2009, 08:19 AM) That's looking like they are not going to be reopening... But I don't know for sure. |
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