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TheStreet Open House

Liquidity Services Completes Sale Of Two Billion Pounds Of Scrap Material

Stock quotes in this article: LQDT

In support of its clients’ sustainability goals, Liquidity Services, Inc. today announced that it has surpassed the two billion pound milestone in the sale of scrap materials to the public. Liquidity Services partners directly with the U.S. Defense Logistics Agency (DLA), municipal government agencies, and Fortune 1000 corporations to sell base materials and scrap metals including ferrous and non-ferrous metals, nickel alloy, electronic scrap, rubber, paper, and in rare occasions, even compost and recycled asphalt. Such sales enable clients to achieve important sustainability goals, reduce costs, and generate new revenue streams.

“Many of our clients, such as the DLA, Wal-Mart, and hundreds of other Fortune 1000 organizations, are seriously committed to zero waste initiatives which depend on the creation of global marketplaces for the sale and reuse of a wide range of material and equipment. We are delighted that our global buyer base and online marketplaces, such as www.GovLiquidation.com, are contributing to these efforts and have enabled billions of pounds of scrap materials to be reused, repurposed, and kept out of landfills,” said Tom Burton, President of Liquidity Services’ Capital Assets Group. “We are proud to be a recognized leader in identifying, processing, and preparing 20 to 30 million pounds of scrap materials for sale each month on behalf of our clients. Our top priority for each sale continues to be maximizing efficiency and recovery value while adhering to safety, environmental, and security compliance.”

The two billion pound milestone was achieved with the completed sale of 47.6 million pounds of recycled asphalt from roadways and runways at Eielson Air Force Base in Fairbanks, AK. Other recent notable scrap sales include: 27 million pounds of scrap metal from decommissioned military aircraft; 1.4 million pounds of compost; a 747 jumbo jet sold for its 120,000 pounds of aluminum, steel, and copper wiring; and the USS Long Beach Navy cruiser, sold for its 7.35 million pounds of base materials.

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