eat ass drive fast
- Sep 10, 2007
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A couple weeks ago we heard Crane Cams would be shuttering after 56 years of operation. Crane Cams now claims it plans to reorganize under bankruptcy and restart operations this month.
According to Crane VP Steve Leva, the company is having the same financial troubles befouling the common automotive waters as any other supplier, but their working to restructure and open as soon as possible. The management team is hoping to resume operations in as little as a week, but are targeting sometime this month. This is great news for the for grease monkeys everywhere, as the horror of stock V8 idle and terrifying valve float need not befoul your Saturday night special. Take that Carpocalypse.
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.
Actually it sounds like the original directors found someone to back them.well aint this dandy...scorpion didnt get it...no one knows who was behind the buying...china? lol