Fw: Crane Cams needs more duration

[Enzo Cremasco <csmopars@xxxxxxxxxx>]

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FYi for the group

 Crane Cams needs more duration
> 
> 
> DAYTONA BEACH â?" 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 Countyâ?Ts 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.
> 
> â?oWe were trying to help them through this
> transition,â?� said Rick
> Michael, Volusia County economic development director.
> â?oThey were
> considering a transfer of ownership. We were not expecting
> any closure.â?�
> 
> An automated voice mail system at Craneâ?Ts 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
> Mikroniteâ?Ts 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 didnâ?Tt 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.
> 
> â?oCrane has gone through a series of small layoffs
> recently,â?� 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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