December 29, 2017
Ritchie Bros. expanded its relationship with the U.S. Department of Defense, garnering two new contracts with the Defense Logistics Agency (DLA).
The contracts are to purchase, manage and sell non-rolling stock surplus assets for both the DLA’s East and West regions.
“We’re very excited to be officially awarded this contract, expanding our support of the DLA to include all of their surplus disposition needs for both rolling and non-rolling stock assets,” said Ravi Saligram, CEO of Ritchie Bros. “Our GovPlanet marketplace was launched three years ago specifically to meet the needs of the DLA, adding other government agencies as customers since then.”
The contract has a base term of two years with four one-year renewal options.
“With the increased inventory coming to GovPlanet with this new contract,” Saligram stated in a company news release, “combined with the power of Ritchie Bros.’ marketing and global buying network, we are very excited about the growth opportunities of the GovPlanet solution in 2018 and beyond.”
Non-rolling stock assets include non-wheeled items such as industrial machinery, electrical equipment, textiles, spare parts and other miscellaneous surplus assets.