Business Roundup: What the tax overhaul means for dealers; Hanson named CEO of Manitou NA; VMAC promotes Hogan to CEO; IMT adds dealers; Dealer gives back with huge light show

Hanson named regional VP, CEO of Manitou North America

Mark Hanson is the new regional vice president and CEO of Manitou North America.

“We are excited to welcome Mark at a time when Manitou Group is bringing many new innovative products to global markets,” says Laurent Bonnaure, executive vice president of global sales and marketing for Manitou Group.

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VMAC promotes Hogan to CEO, Gilbert to president

VMAC has promoted current president and company co-founder Jim Hogan to CEO. Executive vice president Tod Gilbert has been named the company’s new president.

“These changes are an important next step in the company’s exciting future as VMAC continues to differentiate itself as the innovative leader in mobile compressed air,” says David Elgie, VMAC’s executive chairman.

“Mr. Hogan will continue to oversee key strategic matters and retain his board of director responsibilities, while Mr. Gilbert will take on responsibility for the company’s day-to-day business activities.”

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Iowa Mold Tooling adds new distributors in Wyo. and Saskatchewan

Iowa Mold Tooling Company is growing its distributor network with the additions of Equipment and Power Equipment Company of Wyoming and Transform Crane of Canada’s northern Alberta region.

Transform Crane and Equipment provides one-source equipment solutions from their offices in Lloydminster, Saskatchewan.

Founded in 2017, partners Emile Bourassa and Lee Steinbring bring substantial knowledge of Iowa Mold Tooling (IMT) and its product lines to the network. Transform Crane and Equipment carries a full line of IMT products, including the iconic Dominator mechanics trucks portfolio, the companies say.

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Pa. dealer combines equipment and Christmas lights for huge annual show

It’s the fifth year of Neil Messick’s equipment dealership throwing a wildly popular holiday Christmas Light Show in Elizabethtown, Pennsylvania.

The animated display is choreographed to holiday music. This year, 30 pieces of equipment are wrapped in Christmas lights and the show is bigger and better than ever, Messick says.

“Any kid obviously loves it, I mean tractors plus Christmas lights and all that stuff is just a huge hit. We typically will get between 200 and 300 cars a night, and each one of those cars is usually packed full of somebody’s family. So it’s a really significant number of people.”

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Tax overhaul benefits dealers, but uncertainty for future remains

Construction equipment dealers will be able to take advantage of full expensing – for both new and used equipment – under the final tax bill that Congress is voting on this week.

There’s also a lower rate for most pass-throughs, including trusts and estates. And business interest deductibility is initially capped at 30 percent of earnings before interest, tax, depreciation and amortization (EBITA), says Daniel Fisher, vice president of government affairs for Associated Equipment Distributors.

With voting along party lines, the Republican majority Congress passed the $1.5 trillion tax overhaul bill this week and sent it to President Donald Trump for signing into law, likely before Christmas.

“As with any large piece of legislation, there’s going to be some good and some bad, but overall, construction equipment dealers came out very well,” Fisher tells Equipment World.

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