Several auto enthusiast outlets reported recently that 56-year old
Crane Cams has shuttered its doors and laid off most if its employees.
Since then, AutoWeek has reported that the company may be back in business sometime later this month.
According to the report, the company plans to reopen after
restructuring, which could take up to 30 days. All of the company’s 280
employees where laid off but a small group of about 25 will remain to
work on military contracts, according to the report.
Crane Cams was founded in 1953 and had grown into a multi-million manufacturing operation, according to its Web site.
In 2006, it was bought by Mikronite Technologies Group, Inc. of Eatontown, NJ.