[Land-speed] Mikronite bought Crane Cams in 2006 ......

[FastmetalBDF@aol.com]

Remembering Ollie Olsen's Crane Cam sponsored  stormin' A/Gas '40 or '41
Willys coupe featured in the pages of HRM back in the  Sixties !   ~



February 24, 2009

Crane Cams shuts  down, workers laid off

By JIM WITTERS
Senior Business Writer

DAYTONA BEACH b 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 Countybs 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.

bWe  were trying to help them through this transition,b said Rick Michael,
Volusia County economic development director. bThey were considering a
transfer of ownership. We were not expecting any closure.b

An  automated voice mail system at Cranebs 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 Mikronitebs 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 didnbt 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.

bCrane has gone  through a series of small layoffs recently,b 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.

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