Liquidity Services Selected to Auction Assets of Major Oil Pipeline Project
Liquidity Services, in partnership with Apex Auctions, has been selected by a North American energy company to auction over 5,000 items from a canceled project. The assets, which include valves and power generation equipment, will be available on the AllSurplus online marketplace. This initiative is expected to reduce lead times amidst a tight supply in the energy sector.
- Collaboration with Apex Auctions enhances asset sales capabilities.
- Auction of over 5,000 items could boost revenue and market interest.
- Availability of crucial equipment addresses supply shortages.
- The sale is based on a canceled project, indicating possible project disruptions.
- Uncertainty in procurement times could affect future business stability.
Assets to help energy sector meet rising demand amidst tight supply
HOUSTON, May 26, 2022 (GLOBE NEWSWIRE) -- Liquidity Services, a leading global commerce company powering the circular economy, in partnership with Apex Auctions, has been selected by a North American energy company to sell equipment through its Capital Assets Group.
Over 5,000 items from the canceled project will be available to energy buyers through Liquidity Services’ online marketplace, AllSurplus. Auction highlights include large-bore valves, power generation and distribution equipment, induction motors, pipeline instrumentation, operational support equipment, pipeline fittings, and flanges.
“Macro-economic factors have lengthened traditional procurement times. The availability of this material reduces lead times for operators currently buying for new build and expansion projects,” says Jeff Morter, Liquidity Services Director of Energy, Capital Assets Group.
Cataloging and valuation of all 5,000 project assets are underway. Liquidity Services’ Capital Assets Group will continuously add equipment as it becomes available. Buyers are encouraged to visit the auction website for updates on the full scope of available materials.
About Liquidity Services
Liquidity Services (NASDAQ: LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over
About AllSurplus
AllSurplus is the world’s leading marketplace for surplus business assets ranging from heavy equipment to transportation assets, and industrial machinery. AllSurplus is the smartest, fastest way to sell surplus inventory and equipment as sellers can directly launch and manage their listings in just days with more control and lower fees than traditional auction solutions. AllSurplus is powered by one of the most experienced and trusted companies in the surplus industry: Liquidity Services (NASDAQ: LQDT), which has supported millions of customers across the globe, AllSurplus buyers have direct access to all the surplus assets across Liquidity Services’ network of marketplaces in one centralized location.
About Apex Auctions
For over 20 years Apex Group has supported companies around the world to buy, sell, and manage their surplus assets. Apex helps bridge the gap between buyer and seller using their cutting-edge transaction platform, a vast buyer database and precise marketing and sales. Apex has designed a six-step program to assist clients whether they are buying, selling, or managing assets. Their linear process can be executed in order from beginning to end or a bespoke combination can be created to suit a client’s specific needs. Either way, Apex clients will always receive a service that is overarched with strong leadership, policy and strategy and underpinned by our easy to use, yet powerful technology.
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