Scott Nicholas
Liquidity Services has secured a three-year contract with two 12-month optional extension periods from the Defense Logistics Agency for management and sales services of Defense Department scrap assets.
The company will manage and sell DoD-generated scrap assets from continental U.S., Alaska, Hawaii, Puerto Rico and Guam installations under a revenue-sharing agreement equal to 64.5 percent of the gross resale proceeds, Liquidity Services said Thursday.
Work will begin in September after a five-month ramp-up period for potential operational adjustments.
Bill Angrick, Liquidity Services chairman and CEO, said that the company looks to extend its partnership with the DLAÂ and build on its management, marketing and sales expertise of the scrap assets.
Angrick added that the company has already sold more than 2.5 billion pounds of scrap assets over the course of its 16-year partnership with DLA.
The company placed the winning bid in an auction held in March.
