Crane Cams. Is It The End?

voltage-regulatorCrane Cams. 1953-2009? As I told you last week, there is a lot of confusion regarding Crane Cams and its future. I continue to receive conflicting reports and press releases and below I reproduce the last one I just received. It comes from Katherine Walls, Vice President of Liquitec.

“Crane Cams Confirms Auction Sale Proceedings as scheduled. All Machinery, $2+ Million in Inventory, 16 Trademarks, Patents and Product Line IP is for Sale. The sale of Crane Cams is on! Today, Crane Cams announced that it is “…committed to its scheduled auction date of April 22, and is entertaining as many interested buyers as possible.” Crane Cams further stated that Crane has no agreement to sell its assets to Scorpion Performance, nor has it received any offer of any kind from Scorpion.” LiquiTec was retained by Crane Cams to conduct a public auction of the company’s assets on April 22, 2009 and is also working to sell the assets before the auction to a variety of buyers who have expressed interest in the company’s very well-established high-performance valve-train and ignition components and product lines. LiquiTec is handling all negotiations in connection with the sale of the Crane Cams’ assets.

Contrary to public statements and news releases issued by Scorpion Performance suggesting that a transaction with Crane Cams was “nearly complete,” and that Scorpion Performance was meeting with Crane Cams to “finalize the details,” LiquiTec has had no discussions with Scorpion Performance whatsoever. Bob Gaudiosi, Vice President of LiquiTec Industries in Mequon, Wisconsin said,
“Scorpion’s repeated public statements suggesting their purchase of Crane Cams was imminent have created significant confusion in the marketplace. However, let me assure you, the sale is on and always has been.”

LiquiTec is currently working with a variety of buyers who have expressed an interest in buying Crane Cams® and related trademarks, its very popular product lines and related intellectual property, its inventory and its machinery. Don’t be misled. Everyone has an opportunity to buy the Crane Cams assets. Act now because there are just 19-days remaining.

LiquiTec is accepting bids now for inventory, trademarks, patents and product line IP. 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 For more information or to register to attend the sale, visit Liquitec or call (800) 852-9252. The sale will be conducted by David S. Gronik, Florida Auctioneer License # AU3

24 Responses to “Crane Cams. Is It The End?”

  1. 1 X CRANE EMPLOYEE Apr 7th, 2009 at 7:39 am

    Talk about confusion…….the X employees have been pulled, pushed and stonwalled till the very end…………..

    The name and the trademarks may live on but for the employees it is the end. We are left with our 401K and Flex spending accounts (pre tax medical accounts) frozen because they were not funded by the parent company even though the deductions were taken from our paychecks. We don’t qualify for COBRA medical coverage.

  2. 2 THUG CUSTOM CYCLES Apr 7th, 2009 at 8:48 am


  3. 3 X CRANE EMPLOYEE Apr 7th, 2009 at 10:36 am

    At the end of Feb. Crane was to close on a deal with new owners and the plan was that we would be off on Monday and reopen on Tuesday with new ownership. We were told the bank (Wachovia) changed the terms of the deal at the closing table and the buyers would not agree to the new terms. This was the beginning of a downward spiral that still has not hit rock bottom. Here are the facts as I know them:

    401K – First we were told the funds that were deducted from our checks were never passed on to the 3rd party administrator. Last week I was told by the administrator the funds were sent but we could not roll or access our accounts until 100% of the employees requested there accounts
    rolled because the company was closing the account and they had to have 100% withdrawal?

    Flex Spending account – The 3rd party administrator informed us that since Dec or 08 the funds that were being deducted from our checks were not passed on to them. These were pretax dollars that were to be used for medical expenses.

    COBRA – Since the parent company, Crane stopped paying medical premiums, there is no parent policy for COBRA to tie into. The gov. now will pickup 65% of the COBRA expense but we don’t qualify so we now have to pay 100% out of our unemployment checks……my coverage for my wife and I is over $850.00 per month.

    Scorpion had a job fair in the Crane parking lot a couple of weeks ago but nothing has happened so far and the rumors continue to fly…. As of last week, neither Crane or Mikronite has filed Chapter 7 nor 11. Crane is just liquidating the assets. The employees have gone to State of Florida agencies, local political reps, Federal gov reps. And no one seems to care. Lawyers so far
    have had no interest.

  4. 4 Sidewinder Apr 7th, 2009 at 3:28 pm

    To the X Crane employees- as far as the 401K & FSA problems. One statement: Dept of Labor. Crane broke the law by not depositing salary deferrals to your accts in a timely fashion (or at all). This is IRS code. I work in the financial industry handling retirement accounts. This is whether there is a bankruptcy or not.
    Due to the bankruptcy, yes things may be frozen for a time being, but those are your assets & cannot be siezed. Tell the plan admin to show you those statements in writing or you will file a complaint with the dept of labor. This should get their attention. Hope this helps just a small bit.

  5. 5 another xemployee Apr 8th, 2009 at 6:09 am

    along with that fact thati called one of the insurance comapnys that handled the secondary policys for us,( trustmark) they had no idea that crane had closed. and the last payment was in jan. and they were taking payments from us until middle of feb. i talked to this lady and she was shocked about this. she said she would call them and find out. i told her good luck. and i also want my stock money. we has crane employees have the right to our money. and some kind of notice as to what is being done, and how its being handled.

  6. 6 X CRANE EMPLOYEE Apr 8th, 2009 at 6:46 am

    To “another X Crane”

    You make a good point………….the fact that there has been “0” communication from either Crane or Mikronite upper mgt. No one has said a word……..and our local, state and federal gov. could care less………..I personally have sent 10 emails asking for someone to get us some real information and not 1 of them has even bothered to reply.

    Guess what we will NOT go away………….

  7. 7 another xemployee Apr 8th, 2009 at 7:07 am

    and thats the truth, we have not had one bit of communication at all, i mean what does that say about how they feel aobut us as workers? and as a whole does the american worker have to except this kindof behavior, and treatment. do you just say oh well they screwed us nothing we can do? nottttttttttt… someone needs to come forward and tell us what is what. and i feel someone has to be held accountable for all that has happened. and go to jail if found that they broke the law..

  8. 8 Breeze Apr 8th, 2009 at 9:34 am

    To all ex- Crane employees – go to your local unemployment office IN PERSON, ask for a formal complaint form and file a legitimate complaint against them today …do not wait…they have broken the law! I am sorry to hear you all got screwed—it really is a crying shame, but PLEASE step up and do something about it and be an advocate for it not to happen to anyone else in this industry or anywhere else.
    I would love to see you all come out ahead of the game.

  9. 9 owe812 Apr 8th, 2009 at 12:58 pm

    I received a call from my Dept. of Labor contact person last week and she stated that my file was being turned over to their Investigation Dept. I filed complaints with backup paperwork/proof with them about unpaid medical bills, unpaid 401k contributions, and the ESOP issue in early March.

  10. 10 another xemployee Apr 8th, 2009 at 1:02 pm

    that is great , maybe we can get soemthing done about this mess. and get what we have coming and then they can get what they have coming.

  11. 11 X CRANE EMPLOYEE Apr 8th, 2009 at 9:37 pm

    Just got an email………….we have a lawyer that will take us on……………….we may not get our money but at least we will go down swinging……………………stay tuned

  12. 12 Butch Steiner Apr 9th, 2009 at 10:37 am

    I’m willing to do all I can to help. This has been a terrible injustice to dedicated, hard working employees.

  13. 13 Bruce K Apr 9th, 2009 at 12:05 pm

    I am willing to do whatever it takes, Myself and many other X-employees are owed alot of money that we can’t seem to get..(JUST PROMISES) I worked there since 1982 and this is the biggest injustice I have ever seen. I have e-mailed and called all the places and people above. Seems like are council people and government give a rats a– about any of us, So I am in if anybody can find someone to help us.
    Thank You

  14. 14 X CRANE EMPLOYEE Apr 9th, 2009 at 9:35 pm

    Hello Butch and Bruce……………..Any idea who “another” X is?

    X CRANE (Fred)

    We have to keep this thing alive and get as much PR as we can………..

  15. 15 Bruce K Apr 11th, 2009 at 4:55 am

    Sure don’t X CRANE but he/she sounds like someone worth talking with.

    Once again WE DO need to keep this ALIVE………….

  16. 16 Dave Bouldin Apr 11th, 2009 at 5:09 am

    I am a 35 year x-crane employee all we get is a stab in the back!!!
    I am in to help where ever I can

  17. 17 Psycho Drew Apr 13th, 2009 at 9:10 am

    Crane sucks,without the employees the company would never have been shit.Might be time we all look at what is going on with each other and start busting some asses.Someone has to know who the main culperate is.Take care of the asshole.Bitching ain’t gonna get it done.ACTIONS will!

  18. 18 cracker Apr 14th, 2009 at 12:37 am

    Sorry to hear about all of the bad things happening at Crane. Check with your insurance provider about the State Continuance program set up for people who dont qualify for Cobra. I was able to keep my insurance for 18 mo. and now the new govt. policy will pay 65% of my premium. I hope this helps. Good luck!

  19. 19 Bruce K Apr 15th, 2009 at 2:34 pm

    Thanks Drew,

    We all have done alot more than bitch, As I stated above none of these high to do
    state or goverment people will not get off there asses and lift a finger for us.
    If you know a better way I’m listening.

  20. 20 Nancy Russ Jul 18th, 2009 at 11:11 pm

    I emailed Levin and this is the response I received:

    I’m sorry but we are not.
    Doron Levin
    Levin Law Firm, PLLC
    Class Actions | Layoff Pay | Overtime & Wage Law | Accidents & Injuries | Consumer Rights

    Phone: 713.229.9300 | Toll Free: 1.888.935.2929 | Fax: 815.331.0744
    Email: | Website: 3800 Buffalo Speedway, 5th Floor | Houston, Texas 77098

    Unless we have entered into a written agreement to do so, I do not represent you and am not your attorney. Our email communications do not create an attorney – client relationship and you should not rely on advice contained herein. I will associate with co-counsel and/or local counsel should local rules require and/or the client’s best interests dictate such an arrangement. I do not seek to represent anyone where doing so would violate that jurisdiction’s rules regarding the unauthorized practice of law. The information in this email may be confidential and/or privileged. This email is intended to be reviewed only by the individual named above. If you are not the intended recipient or an authorized representative of the intended recipient, you are hereby notified that any review, dissemination or copying of this email and its attachments, if any, is prohibited. If you have received this email in error, please notify me by return email and delete this email from your system. Do not forward this email to any third party without my prior written consent. Thank you.‬ ——Original Message——
    From: Nancy Russ
    To: Doron Levin
    ReplyTo: Nancy Russ
    Subject: contact form
    Sent: Jul 18, 2009 8:40 AM

    There is a contact form submission from Nancy Russ
    Email :
    Message : Are you investigating the layoff/closing of Crane Cams, Crane Technolgies Group, Mikronite? Please advise.

    See link


  21. 21 ELK in Michigan Aug 8th, 2009 at 11:48 am

    I worked for Camshaft Machine in Michigan years ago when Crane purchased our company.
    I knew right from the beginning that these yahoos were crooked.
    As far as I know I still had stock in the “ESOP” plan.
    I assume it’s gone now.
    I visited your Daytona facility in 1995 because they were offering me a job running the Lycombing line that was just getting started.
    I cant remember the CEO’s name but I do know Burgess and Maguire. Those two would throw ya under the buss if the the CEO directed them to.
    They all were slim balls and it’s a shame that you all are paying. They looked out for themselves.
    So, what does happen withe the “ESOP”

  22. 22 Glen H. Man Aug 12th, 2009 at 8:38 am

    Jeff Coats took the equity from the Crane Cams ESOP by engineering a sale/lease back of the Crane Cams real estate property in 2007. The real estate was sold for millions of dollars and the money distributed to himself and his business associates at Mikronite. The ESOP went from being a landlord to a renter and received nothing in return.

    Jeff Coats is now at Autobytel in Los Angeles and he is transferring equity away from the majority shareholders and distributing it to himself and the same business associates. The articles of incorporation and by-laws have been revised a half dozen times to fit this purpose.

    Jeff Coats claims he is a business man.

    His business model is best characterized as legalized theft.

  23. 23 Doug V. in Michigan Jan 5th, 2010 at 10:57 pm

    Are their any updates to this story? I lost money too.

  24. 24 Mike M Aug 15th, 2011 at 5:02 pm

    I used to work for Crane Cams.
    I left in 1989.
    I just came accross some old pay stubs and noticed I paid into a 401k and ESOP.
    Is there a way to find any info on that money?
    Hello to those that made rocker arms and to Helane Hill ;o)

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Cyril Huze