Thomson Reuters Business Description
Ritchie Bros. Auctioneers Incorporated and its subsidiaries sells industrial equipment and other assets for the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries at its unreserved auctions worldwide. It is an industrial auctioneer, selling more equipment to on-site and online bidders. The Company’s principal business activity is the sale of industrial equipment and other assets at auctions. During the year ended December 31, 2011, the Company launched its detailed equipment information (DEI) program, in which it provides free of charge on its Website to all customers much more detailed information and photos about the equipment to be sold at its auctions. As of December 31, 2011, the Company operated from over 110 locations in more than 25 countries, including 43 auction sites worldwide. On May 15, 2012, the Company completed the acquisition of AssetNation.
