In a recent telephone interview with PlasticsToday, Key Equipment Finance's Joe Messineo, senior vice president and regional sales director, shared his perspective on a “very vibrant market” for equipment that began around the end of 2016 and through 2017, as well as why now is a good time for plastics manufacturers to consider acquiring equipment.
“Capital equipment is driven by a lot of factors, but confidence in the economy is a big one,” Messineo said. “The current economic climate is encouraging equipment purchases. Most industries, except for energy, are doing well and we’ve helped a number of plastics manufacturers with their new equipment needs.”
Messineo noted that because plastic is such a ubiquitous commodity used for almost everything, it tends to be a bellwether for the overall economy, adding that plastics-related packaging is “absolutely booming.”
The fourth quarter is generally when companies begin looking back over the past year and planning for the coming year. This includes examining tax code implications and determining what new capital investments to make.
“Now is the time to think about it, because at midnight on December 31, you get to start over again,” Messineo said.
Read more about Section 179 tax breaks in the full article here: