Crane 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 www.BidSpotter.com. 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