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story by After Market News.com:

UPDATE: Crane Cams to be Liquidated

March 26, 2009

By aftermarketNews staff

DAYTONA BEACH, Fla. – A company called LiquiTec Industries Inc. has been engaged to liquidate the assets of Crane Cams Inc. of Daytona Beach, Fla., 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 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.

Crane Cams closed unexpectedly in late February and later announced that it planned to restructure and reopen later this spring. That is apparently no longer the case. No information on transition plans for the company’s 280 employees has been provided.

LiquiTec is accepting bids now for Crane Cams’ inventory, trademarks and patents. An auction sale of all remaining inventory and machinery will take place on Wednesday, April 22, at the company’s former headquarters in Daytona Beach, Florida. The sale will also be broadcast over the Internet via BidSpotter.com. The sale includes all machinery; all raw materials, work-in-process and finished goods including more than $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 trademarks and three patents.

Efforts to sell the business as a whole unit are ongoing, but have been unsuccessful to date, according to LiquiTec. If a buyer interested in the entire turnkey operation does not step forward to close a deal, the auction will go forward as planned on April 22.

For more information or to register to attend the sale, contact LiquiTec at (800) 852-9252. The sale will be conducted by David Gronik, Florida Auctioneer License #AU3852.