Word has come that Crane Cams is officially toast. All of the company’s assets and property, physical and intellectual will be sold at auction, ending the run of the storied camshaft supplier.
We had heard that the company was going to reopen, then the word came that Scorpion Performance was going to acquire Crane and that it was holding a job fair for former Crane employees. Now this press release we got today negates all that information. It’s a litte hard to sort through the truth here, though this seems to be the real answer.
Here is the 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 Cams® 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
