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. Press release after the jump.
[Source: LiquiTec Industries]
LIQUIDATION OF CRANE CAMS, INC. ANNOUNCED
Complete High Performance Camshaft Manufacturer
All Machinery, $2+ Million in Inventory, 16 Trademarks & 3 Patents for Sale
LiquiTec Industries, Inc. has been engaged to liquidate the assets of Crane Cams, Inc., one of the world's largest independent manufacturers of camshafts, valve train components and electrical ignition systems for the performance industry. Established in 1953, Crane Cams® is a brand name recognized for high quality, precision products that are race-proven to withstand the rigors of competition. Product applications include automotive, motorcycle, marine, aircraft and other specialty markets.
The sale includes all machinery; all raw materials, work-in-process and finished goods including over $2 million of high performance and racing application engine components including camshafts, rocker arms, lifters and other parts for most GM, Ford and Mopar engines; 16 patents and three patents.
LiquiTec is accepting bids now for inventory, trademarks and patents. An auction sale of all remaining inventory and machinery will take place on Wednesday, April 22, 2009 at the company's former headquarters in Daytona Beach, Florida. The sale will also be broadcast over the internet via BidSpotter.com. For more information or to register to attend the sale, contact LiquiTec at (800) 852-9252.