Rental Equipment

12 Months Ended

Dec. 31, 2014

Rental Equipment [Abstract]

Rental Equipment [Text Block]

6.  Rental Equipment

Rental equipment consists of the following:

In thousands	2014		2013
Rental equipment	$	27,825	$	33,579
Less accumulated depreciation		20,935		23,869
Net rental equipment	$	6,890	$	9,710

On June 11, 2013, the Company entered into a Master Agreement for Sale and Assignment of Leases with AXIS Capital, Inc. (the “Assignment Agreement”) and financed the future receivables relating to certain lease contracts.  As a result of the transaction, the Company received net proceeds of $887,000.  The funds were used to pay off the balance due on the Credit Agreement and to make a payment to the Company’s pension plan.  A security interest was granted on the rental equipment underlying the lease contract receivables sold to AXIS Capital, Inc. by the Company pursuant to the Assignment Agreement.