Company Announcements

BETHESDA, Md., Jan. 19, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT), a leading global commerce company powering the circular economy, today announced Asia-based multinational corporation XCMG E-commerce Inc has selected Machinio, one of the leading global online platforms for buying and selling machinery and equipment, to facilitate the sale of more than 6,000 refurbished construction machinery assets as part of its ‘Reconditioned Machine’ refurbishment program. XCMG E-commerce Inc is a subsidiary of XCMG, a renown global heavy equipment manufacturer.

“We are excited that the Machinio team in China has been able to develop a relationship with and win the business of a well-known brand like XCMG,” said Robin Hargadon, vice president and general manager, Machinio. “Their trust reflects the increased value Machinio brings to Chinese equipment sellers through our classified marketplace by providing more exposure, both locally and internationally.”

This sale marks the second year Machinio has served as a key partner in XCMG’s ‘XCMG Reconditioned Machine’ program, wherein the organization collects used XCMG assets and conducts a thorough reconditioning process which includes more than 150 specialists performing machine disassembly, repairs, painting, rebuilding, and testing before leveraging Machinio’s expansive global marketplace platform to remarket and extend the life of these assets.

“Machinio sees incredible opportunities in China to continue to expand our advertising footprint for equipment manufacturers and dealers, as well as introduce our other Machinio System CRM and website hosting services,” Hargadon said.

The available assets contain a mix of high-value reconditioned equipment including XCMG-brand Skid Steer Loaders, multiple Hydraulic Crawler Excavators, and a 180-ton Crawler Crane.

To view all 6,000 refurbished construction machinery assets, visit Machinio.com.

About Machinio 
Acquired by Liquidity Services in 2018, Machinio is one of the leading global online platforms for buying and selling machinery and equipment. By offering annual subscriptions to more than 3,750 dealers, brokers, manufacturers, and other suppliers of used equipment, sellers efficiently market their inventory to more than 12.5 million users across 190 countries. Machinio’s robust search platform lists more than 1.2 million assets for sale valued at over $25 billion. Machinio also provides equipment sellers a suite of online tools and software to optimize business performance.

About Liquidity Services
Liquidity Services (NASDAQ: LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than five million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.

Contact:
Antonio Liotta
antonio.liotta@liquidityservices.com

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/73488296-cffe-42cb-ba72-53c1548a33ea
https://www.globenewswire.com/NewsRoom/AttachmentNg/a4598952-f624-4b72-9d4e-bd6a0b146c25