Liquidity ServicesÂ has placed the winning bid in aÂ U.S. Defense Logistics Agency auction event held Wednesday in search of a contractor toÂ manage, purchase and sell scrap assets forÂ the Defense Department.
The DLA scrap contract contains a base period ofÂ three-years and two one-year options to extend work, Liquidity Services said Thursday.
Scrap assets include property that has no monetary value aside from basic metallic, mineral or organic content.
The winning bidÂ equalsÂ 64.5 percent of Liquidity Services’ gross resale proceeds to be returned to the government.
Liquidity ServicesÂ completed a previous DLA scrap assets contract in JuneÂ after the agency exercisedÂ multiple extension options.