Crane Cams Update

[Floyd Staggs]

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.

[Jim Wahl]

This is great news! Jim

[Rusty Gillis]

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.

[bill dedman]

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

It's just crazy...

[Rusty Gillis]

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.

[novassdude]

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.

[bill dedman]

Hadn't thought of that...

Thanks for the heads-up.....


Bill