Ritchie Bros. Auctioneers to open 120-acre auction site in Medford
biz.yahoo.com
Tuesday February 24, 8:00 am ET
Grand Opening auction expected to attract local and international bidders
from around the world
MINNEAPOLIS, MN, Feb. 24 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest on-site and online industrial auctioneer, will be celebrating the Grand Opening of its new permanent auction site located between Medford and Owatonna just outside Minneapolis, Minnesota. To mark the opening of the new site, Ritchie Bros. will be conducting an unreserved industrial equipment auction on March 19, 2009 starting at 8:00 a.m. with an official ribbon cutting ceremony scheduled for mid-morning.
The new 120-acre (70 developed acres) Minneapolis auction site located at 6000 Frontage Rd. W. in Medford replaces the Company's former 28-acre Minneapolis auction site located in Lakeville. The Lakeville site, where the Company held auctions since 1991, will be sold in the Company's second unreserved auction at the new location in June. Of the 120 acres, 70 are developed with 50 acres left to facilitate future expansion. The new Minneapolis site features a new 30,653-square foot auction building housing a 561-seat auction theater as well as a 27,291-square foot building for refurbishing equipment. Four of the Company's 340 unreserved auctions are held annually in Minneapolis. The opening of the new site is just one of 20 auction sites Ritchie Bros. has in the United States and one of 38 auction sites it operates globally. |
