WASHINGTON, Nov. 7 (UPI) -- Scrap property of the U.S. Department of Defense will continue to be sold to the public by Liquidity Services Inc. at least until mid-2014.
The contract for exclusive sales comes through the exercise of a second contract option of an agreement between Liquidity Services and the U.S. Defense Logistics Agency.
"Liquidity Services maintains its commitment to supporting our government partner's zero-waste goals and through the Scrap Contract extension we will continue to identify, process and prepare for sale 20 (million)-30 million pounds of scrap materials received each month," said Bill Angrick, chairman and chief executive officer of Liquidity Services.
"To date, over 2 billion pounds of Department of Defense scrap materials have been sold on our ... (website) market place, contributing to one of the largest and most successful sustainability initiatives in U.S. history."
Liquidity Services manages the receipt, storage, marketing and disposition of virtually all scrap property generated by Department of Defense installations. Items include base materials and scrap metals, electronic scrap, rubber and paper.
The sales have resulted in about $43 million a year for the U.S. government.