Tom Burton- September 15, 2014
Recently, Liquidity Services announced the formation of a strategic partnership with Wickman Group and Grant Thornton Australia to address surplus asset disposition needs relating to the impending structural changes in the Australian automotive industry. Through this partnership, our organizations will be collectively developing proprietary solutions for the surplus plant and automotive equipment expected following the exit of Ford in 2016 and Toyota and General Motors in 2017.
The changes within Australia’s automotive sector will have an impact on first, second, and third-tier manufacturing companies that – despite the changes – are remaining optimistic and looking for ways to diversify, as noted in a recent article in The Australian. This includes leveraging the secondary market as a viable sales platform to maximize the value of their equipment. Within the article, Liquidity Services’ London-based consultant Silas Berry states: “The major car companies are telling us there really is a vibrant aftermarket business and are trying to get the word out [to the local suppliers] not to give up.”
The strategic partnership of our three companies combines decades of experience in the automotive and manufacturing sectors. We are pleased to partner with Wickman Group and Grant Thornton to collaboratively work as a support system to provide value-added outcomes for plant and equipment disposal. To learn more about our partnership to support surplus asset needs in the Australian automotive industry please read our joint announcement. For additional information on how Liquidity Services can assist with your business surplus on a global, regional, or local scale, please contact us.