It’s getting very confusing. Official statements and releases by the company and published during these last 2 weeks are contradicted, corrected or amended in the following days. So, we know that Crane Cams founded in 1953 was acquired at the end of 2006 by Mikronite Technologies Group in New Jersey. That Crane Cams of Daytona closed abruptly on February 24, laying off 280 employees. That Vice President Steve Leva stated last week that the famous Camshafts/Valve Train/Electric Ignition Components company will reopen soon after restructuration. Now, I learn that this week, as Crane Cams officials conducted a tour of their plant for prospective buyers today, a Wisconsin company advertised on the Internet that it plans to auction Crane’s assets during the coming month.
Bob Gaudiosi, vice president of LiquiTec Industries Inc. of Mequon, Wis., stated that Crane Cams CEO Jeffery Coats retained his firm to sell the equipment, inventory, machinery and intellectual property, such as patents and trademarks. Equipment, I understand if we talk about raising money for a leaner operation. But trade marks?
Liquitec would be selling 16 trademarks, including Crane Cams, Powermax, Compucom, Cam Dynamics, Blue Racer Performance Cams & Components, Fireball, Kool Nuts, Posi-stop, Import Power, Energizer, Hi Intensity and others. Gaudiosi said that LiquiTec is preparing for an April 22 auction but is already accepting bids now on inventory and intellectual property. To make things more confusing, a company called Scorpion which manufactures auto parts at plants in Fort Lauderdale and Ocala announced Tuesday that a deal to buy Crane was pending. And Scorpion accepted applications today from former Crane employees hoping to get their jobs back. To follow…(with the help of Jim Witters, Daytona News Journal Online)