Crane???

[bigshow2966]

http://www.news-journalonline.com/Ne...rane022409.htm

[Bruce Noland]

Crane recently sent out a tax form. I guess, any racer who completed the form and returned it will be added to a creditors list in bankruptcy court. There were a lot of really good people working for that company. Sad times.

[mbrace5]

Not taking up for any company, but, Crane and its people helped alot of racers over the years. Just another good company gone by the wayside in the economic down turn. Sorry to hear it.

[David Lee]

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.

[Adger Smith]

I was told that there are some well know companies interested in Crane. One of my buddies at Comp said they had people there, but there were also Camels in the parking lot. What would a picture of Scooter on a camel be worth? :~) Wonder where Crane's bail out money is? I'm wondering how many times we are going to see this taking place in the near future?

[Michael Beard]

I've read that they were one of only two companies provided cores to the industry. With that and everything else they do, what exactly made the company unprofitable?

[tim worner]

I see NHRA has erased Crane from their contingency lists.

[Lynn A McCarty]

Originally Posted by Michael Beard

I've read that they were one of only two companies provided cores to the industry. With that and everything else they do, what exactly made the company unprofitable?

I have no idea of Crane's situation, however many times it goes like this. Way more companies go out of business because of cash flow, than profitability. With the current tightening of credit, banks are not allowing companies to "pass" on extra days of payment. In fact, they are asking many companies to improve the number of days out the invoices are. At the same time sales go slow so you have less money to work with. The bank calls up and says no more! So last years 40 days is asked to be 30 days, with less sales and maybe even less profitability.

My suppliers are giving me less days to pay invoices than they did last year, and they are blaming the banks. I had to make up the difference out of my pocket, actually out of Annette's spending money.

[trmnatr]

Originally Posted by Michael Beard

I've read that they were one of only two companies provided cores to the industry. With that and everything else they do, what exactly made the company unprofitable?

I have used Crane for years and Crane is/was one of my sponsors, i can shed some light of some stuff but not all.

Crane is a major supplier of 8620 cores, 8620 cores are billet roller cores that have the copper/gold plating inbetween the camshaft lobes like the one in this photo in the link below

Crane also makes their Titanium Retainers in house, I have been through the factory, They have/had a titanium retainer that is not affected by a springs damper, I have 3 sets of them here now. Crane Posi-Stop Retainers

Crane makes the GM roller rockers and stamps the logo on them for GM. They also do Fords roller rockers.

Crane has an ignition box out, 6 series, idles cleaner than MSD 6AL and i would say in performance its equal to MSD 7, I have 2 of them.

Cranes roller lifters i think were done in house but not 100% sure, i have had zero problems out of these

Crane cut many cams for GM and more. If i was the competition i would be trying to buy Crane for the cam cores, rockers and people who buy their own brand stuff from Crane such as Trick Flow rockers and more

There is still a little light in the tunnel for Crane, they may be able to hit the surface of the water, it could take one day, one week or one month

http://s510.photobucket.com/albums/s...t=IMG_0672.jpg