Dead After All: Liquidation of Crane Cams announced - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 10 Old 03-25-2009, 06:51 PM Thread Starter
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Dead After All: Liquidation of Crane Cams announced

http://www.autoblog.com/2009/03/25/d...ams-announced/


PRESS RELEASE:

LIQUIDATION OF CRANE CAMS, INC. ANNOUNCED

Complete High Performance Camshaft Manufacturer
All Machinery, $2+ Million in Inventory, 16 Trademarks & 3 Patents for Sale

LiquiTec Industries, Inc. has been engaged to liquidate the assets of Crane Cams, Inc., one of the world's largest independent manufacturers of camshafts, valve train components and electrical ignition systems for the performance industry. Established in 1953, Crane CamsŪ is a brand name recognized for high quality, precision products that are race-proven to withstand the rigors of competition. Product applications include automotive, motorcycle, marine, aircraft and other specialty markets.

The sale includes all machinery; all raw materials, work-in-process and finished goods including over $2 million of high performance and racing application engine components including camshafts, rocker arms, lifters and other parts for most GM, Ford and Mopar engines; 16 patents and three patents.

LiquiTec is accepting bids now for inventory, trademarks and patents. 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, contact LiquiTec at (800) 852-9252.
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post #2 of 10 Old 03-25-2009, 07:01 PM
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Sad day for Crane and the aftermarket industry.......very sad.

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post #3 of 10 Old 03-25-2009, 07:27 PM
 
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Sad, indeed.

I think this will likely be an interesting case study for management schools, too. As I read it (not the above story but the longer-term picture), the successful company was bought a few decades ago by its employees, who had enthusiasm and technical knowledge but likely struggled on crucial business decisions, the company's financial situation became more tenuous over the years until the employees finally sold it to an investment company which then sucked it dry and ran it into the ground until nothing was left but an empty husk not even fit for acquisition by a competitor.
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post #4 of 10 Old 03-26-2009, 07:16 PM
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this is just depressing, and I was waiting to see the cams they came out with for the LS3
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post #5 of 10 Old 03-26-2009, 07:50 PM
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I can't find the auction.

2005 CTSV BLACK LS7 Clutch/Flywheel/Slave, Tick Speed Bleeder, Tilton Clutch MC, RevShift Bushings, Domestic V8 Solutions (shifter, 8.8 Diff conversion, srut tower braces, sub-frame connectors), SLP cats, no cags, xpipe, bullet mufflers, Volante, iPod dock, G-force tune; 379hp 381tq.

Killing 5th gens like it is my job.
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post #6 of 10 Old 03-27-2009, 09:05 AM Thread Starter
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I haven't seen it listed yet as well.
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post #7 of 10 Old 03-27-2009, 10:20 AM
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UPDATE!

Crane Cams was bought out by Scorpion Performance in the 11th hour and will remain in operation.

Most of the employees are being re-hired.

http://www.wftv.com/news/19020318/detail.html#-

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post #8 of 10 Old 03-27-2009, 10:22 AM
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Quote:
Originally Posted by Octane5GO View Post
UPDATE!

Crane Cams was bought out by Scorpion Performance in the 11th hour and will remain in operation.

Most of the employees are being re-hired.

http://www.wftv.com/news/19020318/detail.html#-

COOL

2010-2SS/RS/LS3/IBM/RP6: ECS-Paxton Supercharger / American Racing Headers & Exhaust / PFADT Suspension / DSS 9" 4.10 Rear / FOR SALE!

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Powerfreak is the only one who actually understood anything.
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post #9 of 10 Old 03-27-2009, 10:49 AM
 
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Quote:
Originally Posted by Octane5GO View Post
UPDATE!

Crane Cams was bought out by Scorpion Performance in the 11th hour and will remain in operation.

Most of the employees are being re-hired.

http://www.wftv.com/news/19020318/detail.html#-

I think this is wonderful news!!!
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post #10 of 10 Old 03-27-2009, 01:09 PM Thread Starter
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I heard that Scorpion was working the deal. It's amazing how everything can change in one day.

This was posted on the 25th. Whatever the differences were they must have worked them out.

"Last month, Crane Cams announced that it had shut its doors and told all 280 of its employees not to come back the next day. Shortly afterward, the storied automotive aftermarket parts company indicated that it would reopen after the restructuring process had taken place. That's apparently not the case after all.

LiquiTec Industries has issued a press release stating that it has been contracted to liquidate all of the assets of Crane Cams. The sale will include everything that the company had owned, including all of its unsold products, machinery, raw materials, trademarks and patents. Bids are currently being accepted, after which all of the unsold goods will be put up for auction.

This news comes after speculation that Crane Cams would be purchased by a company called Scorpion Performance. We're not sure what happened to that deal, but we've placed a call with Scorpion in an effort to find out."
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