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Hilltip Acquires Industrial Metal Products, Inc.
Hilltip, a leading manufacturer of snowplows, spreaders, deicing sprayers, sweepers and other road maintenance equipment, has acquired all assets of Industrial Metal Products, Inc., an Indiana-based manufacturer of truck beds and other quality metal products. The arrangement provides growth opportunities for both companies’ products, while aiding Hilltip’s expansion in the North American market.
The acquisition of Industrial Metal Products will allow Hilltip to manufacture its products in North America using the company’s Fort Wayne facility, which will immediately get a remarkable expansion for increased production and storage capacity. In addition to the logistical benefits of production at the Indiana location, Hilltip will establish staff resources and a customer service team to better serve dealers and customers in the U.S. and Canada.
“We are now able to manufacture all our industry leading products in the United States and distribute throughout North America,” said Craig Sandmann, managing director of Hilltip, Inc. North America. “This includes our complete line of spreaders, sprayers and brooms, as well as established Hilltip products lines we have yet to offer domestically.”
Industrial Metal Products will continue production and development of its existing product line as a separate division of Hilltip, and it will still carry the Industrial Truck Beds brand name.
“It’s an exciting development for our employees, dealers and customers,” Sandmann said. For more information visit
https://asph.link/bc1eue
Schwarze Industries LLC announced that it was proud to welcome the addition of their newest dealer, Tampa Crane & Body, to the Schwarze Trusted Dealer Network. Effective immediately, Tampa Crane & Body will be providing Sales, Service, and Parts for Schwarze products for the state of Florida.
Tampa Crane & Body will be responsible for supporting the Schwarze-branded products in the areas of new whole goods sales, parts, warranty, factory-trained service and reconditioned units. Schwarze is focused on quality, performance, public safety, value and customer support. They said that having the right dedicated dealer is crucial to delivering the exceptional support their customers expect. Schwarze also said that they were highly pleased to have Tampa Crane & Body as a trusted dealer.
NO GUARANTEE OF A RECESSION: DODGE DATA PRESENTS 2023 CONSTRUCTION OUTLOOK
Despite ongoing inflation, the U.S. economy experienced many bright spots in 2022. That includes the construction industry, which saw record-low single-family vacancy rates and a burgeoning crop of planned commercial projects for 2023. Avoiding a recession in 2023, however, will require taking a narrow road, one economist said recently.
Dodge Data & Analytics Chief Economist Richard Branch delivered the company’s “On the Razor’s Edge: Will the U.S. Economy Enter Recession and How Will Construction Starts Respond in 2023” via an online webinar on Nov. 15. The analysis was based on several data categories the company tracks throughout the year. Some of that outlook was based on historical data through the end of September.
Looking at the big picture – or skimming through any news site – it’s clear there is a lot going on in the world. From election results, to bitcoin, to tech layoffs, it can be a challenge to predict what will happen next with the U.S. economy.
Former Boston Federal Reserve President Eric Rosengren told CNBC recently that the U.S. is likely headed for a mild recession going into 2023. Branch told his online audience on Tuesday that a recession may not happen, and if it does, it will not be as severe as the Great Recession of 2008 or the downturn of 2001.
“The key thing here to remember I think, is we view this as fairly V-shaped here. We don't view this as anything similar to what happened during the Great Recession,” Branch said. “A couple of key reasons I would say that we feel this way is No. 1, the banking system is in great shape. And No. 2, the housing market is undersupplied.”
There are a handful of issues that Branch is watching and considers potential recessionary events: • Increased China and Taiwan tensions or conflict • A real further violent escalation in Ukraine and Russia • Production cuts for OPEC plus that push oil prices to $115-$120 a barrel
“We're walking the razor's edge here,” Branch said. “In our estimation, there is a very, very, very narrow path to avoiding a technical recession in 2023.”