Crane Cams Update
 

Some Positive news

Scorpion Performance & Crane Cams Meet To Finalize Sale
Scorpion Performance, Inc., a manufacturer of precision parts for high performance engines, today announced that the purchase of Crane Cams is nearly complete.

FOR IMMEDIATE RELEASE

PRLog (Press Release) – Apr 02, 2009 – Fort Lauderdale, FL -Scorpion Performance, Inc. a manufacturer of precision parts for high performance engines, today announced that the purchase of Crane Cams is nearly complete. Crane Cams executives will arrive at Scorpion’s Fort Lauderdale headquarters this week to finalize the details of the sale.

A similar meeting in Fort Lauderdale last week with Crane’s senior leadership proved very productive. Crane Cams, which is one of the best-known brands in the high performance automotive parts industry, closed its doors in February after being in business for 56 years.

Scorpion Performance is already preparing to get the Crane factory back in operation as quickly as possible. On March 26th, Scorpion held a huge Job Fair in the Crane Cams parking lot for almost all 280 former Crane employees. The attendees were treated to free food, drinks, catalogs, T-shirts and hats. After the Job Fair concluded, Scorpion Performance executives took a very thorough tour of the Crane Cams factory to assess the company’s machinery, inventory and other physical assets. This was Scorpion’s second such tour.

According to Scott Reynolds, Scorpion’s Vice President of Marketing, “Scorpion Performance intends to get Crane Cams profitable again through the use of good management, marketing and manufacturing techniques. Over time, we’ll increase production three-fold or more through robotic automation, which will give us the ability to greatly increase sales. New customers are already calling us.”

Camshafts are a logical extension of Scorpion’s line of valve train parts, which includes rocker arms, lifters, pushrods, valves and valve springs. Scorpion Performance manufacturers millions of high performance engine parts that are marketed and distributed through its new retail division, Scorpion Racing Products (SRP).

Contact:
Media Relations Department
Scott Reynolds, Director of Advertising & Branding
954-779-3600 (X216)
954-779-3029 FAX

Re: Crane Cams Update
 

Here is the link

http://www.prlog.org/10210053-scorpi...lize-sale.html

Re: Crane Cams Update
 

You just made my day, week, month, year,
Thanks

Re: Crane Cams Update
 

Yes, its good news and nice to see on here when so many other threads are negative.

Re: Crane Cams Update
 

Just got this e-mail.



CRANE CAMS CONFIRMS - AUCTION SALE PROCEEDING AS SCHEDULED

Wednesday, April 22, 2009 at 10:00 a.m. EDT



High Performance Camshaft Manufacturer

All Machinery, $2+ Million in Inventory, 16 Trademarks,
Patents and Product Line IP For Sale





View Assets for Sale | Register to Bid | View Terms of Sale

Daytona Beach, FL - The sale of Crane Cams is on! Today, Crane Cams announced that it is "...committed to its scheduled auction date of April 22, and is entertaining as many interested buyers as possible." Crane Cams further stated that "Crane has no agreement to sell its assets to Scorpion Performance, nor has it received any offer of any kind from Scorpion."

Read the Press Release from Crane Cams, Inc.

LiquiTec was retained by Crane Cams to conduct a public auction of the company's assets on April 22, 2009 and is also working to sell the assets before the auction to a variety of buyers who have expressed interest in the company's very well-established high-performance valve-train and ignition components and product lines. LiquiTec is handling all negotiations in connection with the sale of the Crane Cams' assets.

Contrary to public statements and news releases issued by Scorpion Performance suggesting that a transaction with Crane Cams was "nearly complete," and that Scorpion Performance was meeting with Crane Cams to "finalize the details," LiquiTec has had no discussions with Scorpion Performance whatsoever. Bob Gaudiosi, Vice President of LiquiTec Industries in Mequon, Wisconsin said, "Scorpion's repeated public statements suggesting their purchase of Crane Cams was imminent has created significant confusion in the marketplace. However, let me assure you, the sale is on and always has been."

LiquiTec is currently working with a variety of buyers who have expressed an interest in buying Crane Cams® and related trademarks, its very popular product lines and related intellectual property, its inventory and its machinery. Don't be misled. Everyone has an opportunity to buy the Crane Cams assets. Act now because there are just 9-days remaining.

LiquiTec is accepting bids now for inventory, trademarks, patents and product line IP. An auction sale of all remaining inventory and machinery will take place on Wednesday, April 22, 2009 at the company's former headquarters in Daytona Beach, Florida. The sale will also be broadcast over the internet via BidSpotter.com. For more information or to register to attend the sale, visit www.liquitec.net or call (800) 852-9252. The sale will be conducted by David S. Gronik, Florida Auctioneer License # AU3852.

Re: Crane Cams Update
 

This is great news! Jim

Re: Crane Cams Update
 

LuquiTec issued a statement today confirming that rumors of Crane Cams sale to Scorprion was false and they are committed to its scheduled auction date of April 22, and is entertaining as many interested buyers as possible." Crane Cams further stated that "Crane has no agreement to sell its assets to Scorpion Performance, nor has it received any offer of any kind from Scorpion."

LiquiTec was retained by Crane Cams to conduct a public auction of the company's assets on April 22, 2009 and is also working to sell the assets before the auction to a variety of buyers who have expressed interest in the company's very well-established high-performance valve-train and ignition components and product lines. LiquiTec is handling all negotiations in connection with the sale of the Crane Cams' assets.

Contrary to public statements and news releases issued by Scorpion Performance suggesting that a transaction with Crane Cams was "nearly complete," and that Scorpion Performance was meeting with Crane Cams to "finalize the details," LiquiTec has had no discussions with Scorpion Performance whatsoever. Bob Gaudiosi, Vice President of LiquiTec Industries in Mequon, Wisconsin said, "Scorpion's repeated public statements suggesting their purchase of Crane Cams was imminent has created significant confusion in the marketplace. However, let me assure you, the sale is on and always has been."

LiquiTec is currently working with a variety of buyers who have expressed an interest in buying Crane Cams® and related trademarks, its very popular product lines and related intellectual property, its inventory and its machinery. Don't be misled. Everyone has an opportunity to buy the Crane Cams assets. Act now because there are just 9-days remaining.

LiquiTec is accepting bids now for inventory, trademarks, patents and product line IP. An auction sale of all remaining inventory and machinery will take place on Wednesday, April 22, 2009 at the company's former headquarters in Daytona Beach, Florida. The sale will also be broadcast over the internet via BidSpotter.com. For more information or to register to attend the sale, visit www.liquitec.net or call (800) 852-9252. The sale will be conducted by David S. Gronik, Florida Auctioneer License # AU3852.

Re: Crane Cams Update
 

What a bizarre situation. I don't understand what Scorpion would have to gain by issuing all that false information.

It's just crazy...

Re: Crane Cams Update
 

I hate to see this happen to Crane. When I bought Hubert Platt's Super Stocker back in 1969 he introduced me to Crane Cams, Doug Thorley Headers and Pennzoil and they supplied me with free products from 1970 - 1974.

Re: Crane Cams Update
 

Bill the only reason I can think of is in hopes that others don't bother to show at the auction so they could get it at a better price.