Crane Cams, a leading manufacturer of camshafts, valve train and electronic ignition components, has been acquired by Mikronite Technologies Group, Inc. of Eatontown, New Jersey. Mikronite is an industrial technology firm with contracts in the aerospace, automotive, commercial and medical fields. Crane Cams and Mikronite have enjoyed a business association for over a year, utilizing Mikronite’s proprietary surface finishing process on a number of valve train components.
Jeffrey H. Coats, President and CEO of Mikronite and now Executive Chairman of Crane Cams, is pleased to announce that R. Lance Harris has joined Crane Cams as Chief Executive Officer. Coats said, “Lance has a solid track record in operating manufacturing companies engaged in sales, engineering and production of powertrain and driveline products, and will a great asset to Crane Cams.” Prior to joining Crane’s management team, Harris held executive positions at FormTech Industries LLC, GKN, and MascoTech Inc. He started his career as an engineer with General Motors Corporation.
Gene Ezzell, formerly President and CEO of Crane, has now become the President of Mikronite Automotive Technologies and will focus on developing new business for Mikronite in the automotive and industrial fields. All other current Crane Cams personnel will essentially remain in place, and customers should enjoy a seamless transition. The company will continue operations at 530 Fentress Blvd. in Daytona Beach.
Commenting on Crane’s future, Harris said, “We are making a significant investment in inventory, manufacturing capacity, and product development to drive performance at every level. We will demonstrate our commitment to the industry as we execute a strategy that is focused on positioning Crane Cams as a dominant supplier in the marketplace.” The company was founded in 1953 and has accounted for an unprecedented number of industry innovations and racing wins.
