Ritchie Bros. -- a global asset management and disposition company that specializes in heavy equipment, trucks, and other assets -- was recently awarded two new two-year contracts by the Defense Logistics Agency (DLA), which is part of the U.S. Department of Defense.
This contract will see the company purchase, manage and sell non-rolling stock surplus assets for its East and West regions. Non-rolling stock assets refers to non-wheeled items such as industrial machinery, electrical equipment, textiles, spare parts and other such items. The contract has four additional one-year renewal options.
Although Ritchie Bros. has a variety of platforms, it will fulfill this particular contract through its GovPlanet online auction. Launched in 2014 to address DLA needs, GovPlanet now works with a variety of public entities from the municipal to the federal level to sell equipment that meet IronPlanet's exclusive IronClad Assurance equipment condition certifications.