grumpyvette Posted February 25, 2009 Share Posted February 25, 2009 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. Quote Link to comment Share on other sites More sharing options...
Forrest Posted February 25, 2009 Share Posted February 25, 2009 Ouch. I like the Hi-6. This is a shame. Quote Link to comment Share on other sites More sharing options...
bjhines Posted February 25, 2009 Share Posted February 25, 2009 ouch!... unfortunately the hot-rods are the first thing to go on the backburner. We will see the name again soon enough even if the line is produced "elsewhere". Quote Link to comment Share on other sites More sharing options...
eec564 Posted February 25, 2009 Share Posted February 25, 2009 I think they might have been hurting for a while. I worked at CSK (Checker/Kragen/Schucks, now Oreilly's) in their commercial division selling to a lot of shops, and I saw a large number of cams go out the door. Seems people bought comp cams, and praised crane. I think comp cams got a 1-up with cam/lifter packages, and selling lifters to distributors to be sold as house brands. Quote Link to comment Share on other sites More sharing options...
Daeron Posted February 25, 2009 Share Posted February 25, 2009 Righteous Indignation!!!! Epithet!! EPITHET INVOLVING SOMEONES MOTHER! Quote Link to comment Share on other sites More sharing options...
MJLamberson Posted February 25, 2009 Share Posted February 25, 2009 Well I tried to save em, bought a coil. Quote Link to comment Share on other sites More sharing options...
grumpyvette Posted February 25, 2009 Author Share Posted February 25, 2009 crane had some of the highest quality equipment designs and best durrability in the industry they will be very deeply missed I bought fully 50% of my shops cams from them, as Ive never had one fail Quote Link to comment Share on other sites More sharing options...
Z-Dreamer Posted February 25, 2009 Share Posted February 25, 2009 Note: Sorry Admins, I did not see that Grumpyvette had already started a thread! What really sucks is that about 90% of the billet roller cams cores produced and purchased by other cam companies came from Crane Cams! Quote Link to comment Share on other sites More sharing options...
ZZZeee Posted February 25, 2009 Share Posted February 25, 2009 ^^^ No worries... Chinese imports to the rescue!! Quote Link to comment Share on other sites More sharing options...
Z-Dreamer Posted February 25, 2009 Share Posted February 25, 2009 ^^^ No worries... Chinese imports to the rescue!! That is a joke, right? Quote Link to comment Share on other sites More sharing options...
ZZZeee Posted February 25, 2009 Share Posted February 25, 2009 ^^^ Nope... pretty sad, actually. But you know it'll be true in many, if not all, cases. Quote Link to comment Share on other sites More sharing options...
Tony D Posted February 26, 2009 Share Posted February 26, 2009 "Diversify and Survive"... (?) Never really thought about the HiFire and electronics, but I'm sure they were added to the line. Many companies take on lines and lines of products that they eventually become know for, but neglect the core business that got them where they were. There's nothing wrong with doing one thing well, and sticking to it IMO. I've seen many companies 'diversify to survive' right into Ch11. It's a sad day, Crane is gone. An 'alternative' is always good to have around. I hope Isky sticks with Cams and cam related products... If so, I'll be fine! Quote Link to comment Share on other sites More sharing options...
JMortensen Posted February 27, 2009 Share Posted February 27, 2009 "Diversify and Survive"... (?) Never really thought about the HiFire and electronics, but I'm sure they were added to the line. Many companies take on lines and lines of products that they eventually become know for, but neglect the core business that got them where they were. There's nothing wrong with doing one thing well, and sticking to it IMO. I've seen many companies 'diversify to survive' right into Ch11. I agree. Focus on one thing and do what you do well. If you want to expand, start another business for the expansion, that way if one or the other fails it doesn't take everything down with it. My $.02 Quote Link to comment Share on other sites More sharing options...
ZZZeee Posted February 28, 2009 Share Posted February 28, 2009 China is taking over the manufacturing world. They have super-cheap labor resources that will never be fully utilized. Except for small highly focused niches American manufacturing is doomed. Quote Link to comment Share on other sites More sharing options...
HCCAFan Posted February 28, 2009 Share Posted February 28, 2009 Glad I got at least 1 set before this. Quote Link to comment Share on other sites More sharing options...
ckolander Posted March 1, 2009 Share Posted March 1, 2009 hrmmm.......I just so happen to know a machinist's shop who happens to have been stockpiling Crane blanks for the last 6 months. Does a bunch of custom grinds for hot rodders. Drag that Crane is no more. Quote Link to comment Share on other sites More sharing options...
Soundmasterg Posted March 1, 2009 Share Posted March 1, 2009 I read a newsweek article posted on the Crane thread on Classic Z that says that they are restructuring and will reopen.....so its not all bad! greg Quote Link to comment Share on other sites More sharing options...
ZZZeee Posted March 1, 2009 Share Posted March 1, 2009 ^^^ Precisely what does "restructuring" mean though? Could it mean importing raw material or blanks? Maybe they'll be importing completed products? There's no way to know until it happens and they may be tight-lipped about it. Quote Link to comment Share on other sites More sharing options...
jeffer949 Posted March 2, 2009 Share Posted March 2, 2009 That sucks i had friends that worked at that plant. Quote Link to comment Share on other sites More sharing options...
Soundmasterg Posted March 2, 2009 Share Posted March 2, 2009 ^^^ Precisely what does "restructuring" mean though? Could it mean importing raw material or blanks? Maybe they'll be importing completed products? There's no way to know until it happens and they may be tight-lipped about it. Yeah if they reopen and start selling crap that won't hold up, then its not good. I guess we'll all have to wait and see. Greg Quote Link to comment Share on other sites More sharing options...
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