Ritchie Bros. to sell 440-ton crawler crane for first time in upcoming Denver auction

DENVER, CO, May 18 /PRNewswire-FirstCall/ – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, will be conducting a two-day multi-million dollar unreserved public equipment auction at its permanent auction site in Denver, Colorado from June 10 to 11, 2010. The auction will feature hundreds of equipment items, including late model Grove rough terrain cranes and a 2006 Manitowoc 16000 440-ton self-erecting crawler crane for Energy Transportation, a Wyoming-based heavy haul and crane and rigging company. It will be the first time Ritchie Bros. has ever sold a Manitowoc 16000 440-ton crawler crane in an unreserved auction.

“The 16000 Manitowoc crawler crane is a very unique piece of machinery,” said Steve Merich, Regional Manager, Ritchie Bros. Auctioneers. “We’re excited about the opportunity to be the first site in Company history to sell this particular make and model of crawler crane.”

At the Company’s Denver auction in October 2009, more than 40 items were sold on behalf of Energy Transportation, including two 2008 Manitowoc 14000 220-ton self-erecting crawler cranes-both purchased by out-of-state buyers. One of the two 2008 Manitowoc cranes, which was unused, broke the site record for the highest value item every sold at a Denver auction. The crawler crane sold for US$1.275 million.

“Energy Transportation Inc. continues to consider Ritchie Bros. Auctioneers the premier auction company in the US and throughout the world. The strategy to market our late model used equipment is integral in the continuing process of updating our fleet with new state of the art all terrain cranes,” said Dan McGlade, President of Energy Transportation Inc. “With the liquidation of one of our three Manitowoc 16000′s, we believe Ritchie Bros will again bring us favorable results on June 10th as they have so many times in the past. We continue to look forward to working with the Ritchie Bros. team well into the future.”

The 16000 Manitowoc 440-ton capacity, 500-horsepower engine crawler crane was introduced to the market by Manitowoc at CONEXPO in 2005. Because of its long reach and heavy lifting capability, the Manitowoc 16000 crane is used as a rigging crane in wind turbine installation projects but can also be used as a contracting crane on other types of projects. The crane’s boom, made up of ten separate sections, spans a height of 315 feet when fully extended. The lifting capacity of the crane on the main boom is 295 ft and up to 432 ft with a luffing jib.

“The 2006 Manitowoc 16000 crawler crane being sold in the upcoming Denver auction does include a luffing jib which increases the crane’s overall value,” said Mr. Merich.

Energy Transportation is also selling a number of late model Grove rough terrain cranes including a 2007 Grove RT9130E 130-ton, a 2008 RT890E Grove 90-ton, and a 2006 Grove TMS900E 90-ton hydraulic truck crane.

Other equipment being sold in the Denver unreserved auction includes wheel loaders, crawler tractors, hydraulic excavators, compaction equipment, agricultural tractors and trucks and trailers. Every item will be sold to the highest bidders – regardless of price – with no minimum bids or reserve prices.

The Denver auction site is still accepting equipment consignments for the auction; owners interested in selling their cranes and equipment can phone the Denver auction site + 1.970.535.6700 to make arrangements.

    Auction details:
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        -  Location: Ritchie Bros. Auctioneers' permanent Denver auction
           site, 4444 Ritchie Drive, Longmont, CO 80504
        -  Auction site phone: + 1.970.535.6700
        -  Time and date: Thursday, June 10, 2010 to Friday, June 11, 2010
           starting at 8:00 a.m. each day
        -  The auction is open to the public and registration to bid is free.
           First-time registered bidders are required to place a US$1,000
           refundable deposit when they register
        -  Customers can inspect, test, and compare items in the auction yard
           during regular business hours
        -  Interested buyers can bid in person at the Denver auction site,
           online in real time at www.rbauction.com or by proxy by contacting
           the Denver auction site at + 1.970.535.6700
        -  More information about the auction, including full equipment
           details and photos, is available at www.rbauction.com

About Ritchie Bros.

Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world’s largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. The Company has over 110 locations in more than 25 countries, including 41 auction sites worldwide. Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media

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SOURCE Ritchie Bros. Auctioneers