Beijing, China (September 19, 2018) – PowerChina Trade Solution Group Ltd., one of the world's largest construction companies, has selected Ritchie Bros. as a key partner for its surplus equipment disposition. In early September, the two companies signed a multi-year agreement that will see assets from completed PowerChina projects and other Chinese state-owned enterprises sold through various Ritchie Bros. sales channels.
"We offer a multitude of solutions to make asset disposition for PowerChina easier than ever before," said Karl Werner, President, International, Ritchie Bros. "PowerChina is often working on multiple massive projects around the world, with surplus equipment sitting idle for years in some cases. We will help them turn those assets back into cash quickly and efficiently so they can reinvest it back into their business. They can continue doing what they do best while we take care of the equipment."
Dozens of items from a PowerChina projects are already making their way to Ritchie Bros. auction locations to be sold. Equipment highlights include dump trucks, truck tractors, excavators, concrete pump trucks, mobile cranes, dozers, and motor graders.
"We are very pleased to have this groundbreaking agreement in place with Ritchie Bros., a trusted global company," said Su Xiaochu, Vice President, PowerChina Trade Solution Group Ltd. "We believe that through cooperation with Ritchie Bros. we can improve the procurement and disposal efficiency of our construction equipment globally."
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance(R) equipment condition certification; Marketplace-E, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat(R) auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.
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