International bidders compete for late-model cranes at Ritchie Bros. unreserved auction in Denver

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, sold more than 800 equipment items, including more than 30 cranes, in a multi-million dollar unreserved public auction at its permanent auction site in Denver, Colorado on Tuesday, October 20, 2009. The unreserved auction attracted more than 1,600 on-site and online bidders from more than 25 countries as far away as the United... 

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Arabian American Development Announces New Contract With LyondellBasell Industries

Arabian American Development Co. announced that its subsidiary, South Hampton Resources, Inc., has signed a new contract with LyondellBasell Industries (LBI), an existing customer, which is estimated at $11 to $15 million per year over the term of the contract running from August 1, 2009 through April 30, 2012 with continuation year to year thereafter. Estimated annual volume of the contract is approximately... 

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Flowserve Signs Long-Term Strategic Agreement with Oil and Gas Giant Saudi Aramco

Flowserve Corporation, one of the world’s leading providers of flow control products and services for the global infrastructure markets including oil and gas, power, chemical water and general industries, today announced it has signed a 10-year strategic supplier agreement with Saudi Aramco, one of the world’s largest oil producing companies. The supply agreement includes Flowserve’s entire... 

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Equipment sellers in Spain, Los Angeles and Dubai benefit from global reach of Ritchie Bros.

Ritchie Bros. Auctioneers gave equipment sellers easy access to the global marketplace last week, attracting bidders from around the world to seven unreserved industrial auctions in four countries – including the largest Spain auction in Company history. The three-day auction at the Company’s Moncofa, Spain auction site generated almost (euro)30 million (US$38 million) in gross auction... 

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Petrolium Oil Alliance Inc. Opens New Offices in Riyadh

Petrolium Oil Alliance Inc. announced it has opened new offices for the company and its U.S. subsidiary PetrOil Inc. formerly CybeRecord, Inc., at King Fahad Road, Oroba Center Suite 4042, Riyadh, Kingdom of Saudi Arabia, Telephone: +966553020240. The action was taken as a result of a meeting held on November 1, 2008 at the Kingdom Center adjacent the new office site regarding the facilitation and... 

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Out-of-state bidders set global market prices at Ritchie Bros. auction in Las Vegas

Out-of-state bidders from as far away as Russia, Saudi Arabia and Canada purchased US$23 million of equipment from the US$24 million unreserved public auction conducted by Ritchie Bros. Auctioneers (NYSE and TSX: RBA – News News) in Las Vegas, Nevada last week. More than 1,100 heavy equipment items and trucks were sold in the November 7, 2008 auction, which attracted more than 1,500 on-site and... 

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Beacon Energy Corporation Opens Negotiations for Property with Coal Mining Rights

Beacon Energy Corporation a wholly owned subsidiary of Beacon Redevelopment Industrial Corporation announced today that it has entered negotiations to acquire a 950 acre track of property with coal mining rights/reserves in Pennsylvania. The company is very confident that current negotiations will result in the successful execution of a purchase agreement immediately with a closing to take place within... 

vMonitor Announces Aggressive Growth Strategy and Hiring of L J Guillotte as President and CEO

vMonitor, Inc. announces early results of its Aggressive Growth Strategy in oil and gas wireless automation and field optimization solutions. vMonitor Director Tom Bates, former Managing Director at Lime Rock Partners and former CEO of Weatherford Interra, describes the Company’s strategy as follows: “vMonitor has succeeded in developing the broadest, most comprehensive of wireless oil... 

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Recent Election Strengthens Democracy of Oil Rich Angola

The world witnessed a step towards a fundamental element of peace, stability and socio-economic development when Angolan citizens voted during the legislative poll held September 5, 2008. An Australian professional mining company CityView Corporation is rewarded for its foresight and now revels in a most enviable position. Oil is the backbone of Angola’s economy and they have some of the most ambitious... 

Arabian American Development Announces Update on Impact of Hurricane Ike

Arabian American Development Co. provided an update on the effects of Hurricane Ike to its operations. The Company announced that it had sustained no material damage from the hurricane winds or flooding, power has been restored and it has restarted the manufacturing process effective September 17, 2008 at its South Hampton Resource facility. South Hampton Resources, which owns and operates a specialty...