BETHESDA, Md. - Liquidity Services (NASDAQ:LQDT), a global commerce company, announced today its partnership with RemArms, a prominent firearms manufacturer, to auction off more than 600 assets following the scheduled closure of RemArms\' historic manufacturing facility in Ilion, New York.
The assets will be sold through a series of online auctions on AllSurplus.com, a leading marketplace for surplus business assets.
The Ilion plant, recognized as the longest-operating firearms manufacturing site in the U.S., is closing as part of RemArms\' strategic initiative to relocate its operations to a newer facility in LaGrange, Georgia.
The auctions are set to attract both domestic and international buyers, offering a variety of high-value equipment, including a complete Metal Injected Molded and Pressed Metal operation, OKK horizontal machining centers, and an Unisig drilling machine.
Chris Register, vice president of corporate sales for AllSurplus, expressed confidence in the strong sales results anticipated from the upcoming auctions, highlighting the unique opportunity for buyers to acquire in-demand machine tools and plant support equipment.
Liquidity Services is facilitating the sale with the aim of unlocking the value of RemArms\' surplus assets while promoting a zero-waste solution. Interested buyers are required to create an account and register for free on AllSurplus.com to participate in the bidding process.
AllSurplus, known as the world\'s premier online marketplace for surplus business assets, provides a platform for selling a wide range of items, from heavy machinery to industrial equipment. The marketplace offers sellers a streamlined and efficient way to manage listings with greater control and lower fees compared to traditional auction methods.
AllSurplus is part of Liquidity Services\' network, which has served millions of customers globally.
The information for this report is based on a press release statement.
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