Crane Cams may have closed

Blogs have picked up a News-Journal story that Crane Cams, makers of camshafts and other valvetrain components and a long-time racing sponsor, has stopped production and laid off most of its employees. The company was founded by Harvey Crane in 1953; it became employee owned in 1979, but was sold to privately held Mikronite Technologies Group in 2006. Mikronite is led by CEO Jeffrey Coats, 51, who is also CEO and a board member of Autobytel. 

The Crane Cams web site is still up and has no mention of any stoppage, and the phone message is unchanged. With no official word, it is possible that the closure is temporary. This story has been widely reported, but there is a single source which was not firm in its evidence.