Last week SEMA eNews reported that Crane Cams had closed operations. Crane's vice president now says the company will restructure and could open within a month.
A week after the Daytona Beach newspaper News-Journal reported that Crane Cams had closed its doors, AutoWeek has quoted Crane Vice President Steve Leva as saying the company planned to reopen within 30 days. All of the company's 280 employees were laid off, with about 25 remaining to work on military contracts, according to AutoWeek.
Crane may have additional incentive to stay in business; Leva notes that $18 million has been invested in equipment since the company's acquisition by Mikronite Technologies Group Inc. in 2006.