WASHINGTON–(BUSINESS WIRE)–March 14, 2006–Liquidity Services,
Inc. (NASDAQ:LQDT), a leading online auction marketplace for
wholesale, surplus and salvage assets, today announced it is enhancing
its European operations through a new contract award finalized on
February 3, 2006 with the U.S. Defense Reutilization and Marketing
Service (DRMS) for the sale of select U.S. Department of Defense (DoD)
military surplus assets located in Germany. The contract has a term of
three years and covers the sale of all surplus vehicles and vehicular
parts, components and equipment throughout Germany as well as all
miscellaneous equipment and supplies located at DRMS facilities in
Kaiserslautern and Germersheim.
Liquidity Services, Inc. (LSI) will leverage its European presence
to provide value-added reverse logistics services for the management
and remarketing of DoD surplus assets in Germany. These services
include warehousing, inventory management and tracking, manifest
creation, photographing items, lotting, and outbound fulfillment. LSI
will also prepare merchandise for sale on its online auction
marketplaces and will market the inventory to professional wholesale
and surplus buyers throughout Europe and Asia.
“LSI’s expertise and proprietary technology solution for
processing and remarketing surplus inventory in the reverse supply
chain is easily replicated for businesses and public sector
organizations of all types and sizes, in any location,” said Bill
Angrick, Chairman and CEO of LSI. “Under the contract with the DRMS in
Germany, LSI will expand its services that have demonstrated success
in the United States and the United Kingdom.”
The contract was awarded on January 24, 2006 and was finalized
after a ten-day government-mandated protest period.
About Liquidity Services, Inc.
Liquidity Services, Inc. (NASDAQ:LQDT) and its subsidiaries enable
corporations and government agencies to market and sell surplus assets
and wholesale goods quickly and conveniently using online auction
marketplaces and value-added services. The company is based in
Washington, D.C. and has 350 employees. Additional information can be
found at: www.liquidityservicesinc.com.
CONTACT: Liquidity Services, Inc.
Julie Davis, 202-467-6868 ext 234
SOURCE: Liquidity Services, Inc.