Crane Cams shuts down.
04-02-2009, 11:16 AM
#32
Looks like the deal's not done yet 
....
....
UPDATE: Crane Cams' Auction Company Says Sale Not Done
April 1, 2009
By aftermarketNews staff
DAYTONA BEACH, Fla. -- LiquiTec Industries Inc., which has been engaged to liquidate the assets of Crane Cams Inc. of Daytona Beach, Fla., one of the largest manufacturers of camshafts and valve train components for the performance industry, says that the deal to sell the company to Scorpion Performance is in serious negotiations but is not a done deal.
Scorpion Performance recently stepped forward as a buyer for the company, and had even held a job fair in Crane's parking lot for most of their employees, but LiquiTec says that efforts to sell the company are still progressing and not yet a done deal. A spokesman for LiquiTec confirmed that it is in serious negotiations with Scorpion, however, there are other interested parties at this date. The LiquiTec spokesman says the sale of Crane Cams is progressing along and there is much due diligence taking place before a sale can be announced.
Crane Cams closed unexpectedly in late February and later announced that it planned to restructure and reopen later this spring, which were unsuccessful.
An auction sale of all remaining inventory and machinery is set for Wednesday, April 22, at the company’s former headquarters in Daytona Beach, Fla., should a deal to sell the company as a unit not be reached by this time.
April 1, 2009
By aftermarketNews staff
DAYTONA BEACH, Fla. -- LiquiTec Industries Inc., which has been engaged to liquidate the assets of Crane Cams Inc. of Daytona Beach, Fla., one of the largest manufacturers of camshafts and valve train components for the performance industry, says that the deal to sell the company to Scorpion Performance is in serious negotiations but is not a done deal.
Scorpion Performance recently stepped forward as a buyer for the company, and had even held a job fair in Crane's parking lot for most of their employees, but LiquiTec says that efforts to sell the company are still progressing and not yet a done deal. A spokesman for LiquiTec confirmed that it is in serious negotiations with Scorpion, however, there are other interested parties at this date. The LiquiTec spokesman says the sale of Crane Cams is progressing along and there is much due diligence taking place before a sale can be announced.
Crane Cams closed unexpectedly in late February and later announced that it planned to restructure and reopen later this spring, which were unsuccessful.
An auction sale of all remaining inventory and machinery is set for Wednesday, April 22, at the company’s former headquarters in Daytona Beach, Fla., should a deal to sell the company as a unit not be reached by this time.
05-01-2009, 07:27 PM
#33
Another update:
Crane Cams could reopen under new management
A business team led by Wisconsin-based S&S Cycles and former Crane Cams CEO Lance Harris scooped up the majority of Crane Cams’ intellectual property at the company’s liquidation auction last week. The team spent $1.2 million to acquire 16 trademarks, three patents and the company name. According to reports from the Daytona Beach News-Journal, the goal is to get Crane Cams back up and running, though presumably at a new location.
"The goal is to get the whole thing up and running again under the name Crane Cams. We paid that much for the intellectual property because the name is good and consumers know the name," said Anders Stubkjaer, S&S Cycles chief operating and financial officer.
Crane Cams could reopen under new management
A business team led by Wisconsin-based S&S Cycles and former Crane Cams CEO Lance Harris scooped up the majority of Crane Cams’ intellectual property at the company’s liquidation auction last week. The team spent $1.2 million to acquire 16 trademarks, three patents and the company name. According to reports from the Daytona Beach News-Journal, the goal is to get Crane Cams back up and running, though presumably at a new location.
"The goal is to get the whole thing up and running again under the name Crane Cams. We paid that much for the intellectual property because the name is good and consumers know the name," said Anders Stubkjaer, S&S Cycles chief operating and financial officer.
Thread
Thread Starter
Forum
Replies
Last Post
superchomper2003
GM Drivetrain & Suspension
3
08-26-2015 09:39 AM
atxlt
Tuning, Diagnostics, Electronics, and Wiring
1
07-20-2015 11:06 PM
Mossyoakglock
GMT 900 Trucks General Discussion
0
07-17-2015 08:30 AM
