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JDRoberts
February 25, 2009, 22:31
A sad day indeed.


Crane Cams Closing Its Doors After 56 Years in Aftermarket Performance
After 56 years of business, Crane Cams is closing, according to recent reports. The company was well-known for its performance aftermarket accessories, including electronic ignition systems and camshafts, especially in the classic American and Muscle Car segment. This surprised some familiar with the company, which three years ago had 220 employees. "They were considering a transfer of ownership," said Rich Michael, Volusia County economic development director, to the News-Journal. "We were not expecting any closure." On its Web site, Crane Cams lists General Motors, Ford, and "DamlerChrysler Corporation [sic]" as clients. With the Detroit Three trying to adapt to a shrinking U.S. auto market, Crane Cams has surely been affected, as well. No company representative of Crane Cams or its parent company, Mikronite, could be reached by the newspaper, which found out about the layoffs and closure from a Crane Cams worker. Crane Cams' latest troubles serve as yet another reminder of how great an impact the contraction of the auto industry is having on companies across the U.S. Source: News-Journal Online

http://wot.motortrend.com/6460399/auto-news/report-crane-cams-closing-its-doors-after-56-years-in-aftermarket-performance/index.html

martin35
February 26, 2009, 21:48
I suspect many corporations that serve a niche markets will find clients disposable funds not enough to sustain them in tough times.
The only automobile dealership in my county closed, 240 layed off.
Every recession and depression has seen massive migrations of Americans, a rumor of a job will put men in motion. Texas got thousands of Michiganders in the last auto debacle of the early 70's
There was a song in the early 40's I barely recall that started "Hello Tex I saw Okie and he said Arkie had a job for you out in Californy".

fastfreddy
February 26, 2009, 21:54
It's just downright discouraging. Dang, there goes an icon of an era, never to return. Yep, discouraging.

renaissance_warrior
February 26, 2009, 22:17
Well that totally sucks.

My guess is that the last buyers, a private equity firm out of Boston in 2007, will be taking all the CAD-CAM data and setting up shop overseas. The company was also evidently not paying the insurance premiums for many months regardless of the payroll deductions for them. In March 2007, owner of Crane , Mikronite sold its Crane property on Fentress Ave. in Daytona Beach, Florida to STAG Capital Partners of Boston, then signed a 10-year lease. Very bad things to do, legally speaking.

ER
February 26, 2009, 22:22
:cry: :cry: :cry:

I haven`t used any of their cams in quite a while since I switched to Comp and CamCraft, but I did use their roller rockers.

I`d hate to be in a business right now that relied on people`s extra disposable income to stay afloat........

BUFF
February 27, 2009, 05:45
That is a sad comment on the times. Back in high scholl, I spent a lot of time at the drag races. It was rare to see a serious car without a Crane Cams sticker.

GrrArgh
February 27, 2009, 07:00
I had a Crane Fireball in my 340 Cuda. It really boosted mid to high rev performance. Sad to see Crane go, what next, Holley Carbs, Edelbrock manifolds?