Crane cams shuts down
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Crane cams shuts down
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 Countys 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 Cranes 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 Mikronites 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 didnt 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.
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 Countys 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 Cranes 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 Mikronites 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 didnt 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.
Road Warrior
Joined: Nov 2008
Posts: 1,789
Likes: 9
From: Double Oak, Texas
Bad news for the employees. Hope they are able to start up again. Just think if they start making money again, they can be punished by redistributing it, and laying off employees again.
Last edited by Centerline; Feb 25, 2009 at 11:43 AM. Reason: sp
Stellar HDF Member
Joined: Jan 2009
Posts: 2,884
Likes: 912
From: South La.
With all the tuners available for engines now days, I was worried this would start to happen. I used to hop up my cars w/ new cam etc...but, you don't have to do it like that on the new stuff. I hope they're able to come back!
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