Dozens of cranes sold at US$20 million Ritchie Bros. auction in Chicago

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, sold more than US$20 million of heavy equipment and trucks – including 61 cranes – at its unreserved public auction in Chicago, Illinois last week (July 16 17, 2009). More than 2,200 people from 49 U.S. states and 27 other countries registered to bid in person or online on more than 2,700 used equipment items, including... 

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Gulf Resources Completes Acquisition of Bromine and Crude Salt Manufacturing Assets

Gulf Resources, Inc., announced that one of its wholly-owned subsidiaries Shouguang City Haoyuan Chemical Company Limited has completed the acquisition of manufacturing assets involved in bromine and crude salt production owned by three individual residents of the People’s Republic of China, Fenqiu Yuan, Han Wang and Yufen Zhang. On January 7, 2009, SCHC signed an agreement to acquire the buildings,... 

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Gulf Resources Agrees to Acquire Bromine and Crude Salt Manufacturing Assets

Gulf Resources, Inc., a leading manufacturer of bromine, crude salt and specialty chemical products in the People’s Republic of China, today announced that one of its wholly-owned subsidiaries Shouguang City Haoyuan Chemical Company Limited has signed an agreement with three individual residents of the People’s Republic of China, Fenqiu Yuan, Han Wang and Yufen Zhang (the “Sellers”), to acquire... 

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Ritchie Bros. sells record US$3.57 billion of equipment at 2008 auctions

Vancouver-based Ritchie Bros. Auctioneers conducted its final unreserved auctions of 2008 last week and is pleased to announce a preliminary gross auction proceeds estimate of US$3.57 billion for the year. This represents a 12% increase over 2007 gross auction proceeds, making this the largest year in the Company’s 50-year history. Ritchie Bros., the world’s largest auctioneer of industrial... 

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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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Prices strong at Ritchie Bros.’ US$45 million Orlando auction despite market turmoil

Recent market turmoil and economic uncertainty had little impact on auction prices at the US$45 million unreserved public auction conducted by Ritchie Bros. Auctioneers in Orlando, Florida last week. More than 1,800 on-site and online bidders from 48 countries, including 46 U.S. states, registered to bid on more than 2,500 trucks and heavy equipment items being sold at the two-day auction. Buyers from... 

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Bidders from 60+ countries drawn to Ritchie Bros.’ busy auction week

Buyers from outside the Netherlands purchased 80 percent of the equipment in the most recent Ritchie Bros. auction in Moerdijk, representing (euro)35 million (US$51 million) of the (euro)44 million auction (US$64 million). The unreserved public auction of heavy equipment and trucks attracted more than 1,100 on-site and online bidders from 59 countries. Almost 3,700 used and unused equipment items were... 

Large crowds participate on-site and online in Ritchie Bros. Phoenix and Houston unreserved auctions

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, conducted two large unreserved public auctions in Houston, TX and Phoenix, AZ last week, with gross auction proceeds of more than US$23 million and close to US$35 million, respectively. Almost 2,000 bidders participated in the Houston auction and more than 1,600 took part in the Phoenix auction; bidders came from all over the... 

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Ritchie Bros. Auctioneers achieves over $1 billion of gross auction proceeds in second quarter and increases dividend

Ritchie Bros. Auctioneers Incorporated announces another record-breaking quarter, with quarterly gross auction proceeds exceeding $1 billion for the first time. Net earnings for the six months ended June 30, 2008 reached $62.3 million, or $0.59 per diluted weighted average share. Net earnings for the first half of 2008 would have been $55.0 million, or $0.52 per diluted share, had after-tax gains of... 

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GE paying $1.9 billion for a drilling supplier

General Electric agreed Monday to buy a drilling equipment maker, Vetco Gray, for $1.9 billion as dwindling oil and gas reserves prompt energy companies to increase their investment in opening new fields. GE will gain 5,000 employees in more than 30 countries by acquiring Vetco from 3i Group, JPMorgan Partners and Candover Investments. The acquisition will also increase sales at the GE oil and gas...