WASHINGTON, Dec. 5 (UPI) -- Liquidity Services Inc. will continue to be the exclusive sales channel for Department of Defense scrap property under a Defense Logistics Agency contract.
The contract, which extends the company's services until June 2015, is the result of the Defense Logistics Agency's exercise of an option to an earlier award.
"As a recognized cost-saver and solution provider to the Department of Defense, we are proud to support our government partner's sustainability goals," Bill Angrick, chairman and chief executive officer of Liquidity Services, said. "To date, over 2.3 billion pounds of DOD scrap materials have been sold on our www.govliquidation.com marketplace, contributing to one of the largest recycle, reuse and redeployment initiatives in U.S. history.
"Through the scrap contract extension we will continue to process and prepare for sale the 20 million to 30 million pounds of scrap materials received each month while remaining committed to safety, environmental and security compliance."
Under the contract, Liquidity Services manages the receipt, storage, marketing and disposition of all scrap property generated by Department of Defense installations in the United States, Puerto Rico and Guam, including base materials and scrap metals, electronic scrap, rubber, paper and other materials. Its sales result in more than $40 million being returned to the U.S. Treasury each year.