1,000+ items used in Panama Canal expansion project going up for auction

Ritchie Bros. to sell items for Grupo Unidos por el Canal and others in Panama on Nov. 21, 22 & 24

PANAMA CITY, PANAMA (November 14, 2017) – With original construction more than 100 years ago, the Panama Canal, connecting the Atlantic and Pacific Oceans through Central America, has had numerous upgrades through the years. Recently, a massive 10-year project to construct a third set of locks and increase the capacity of the canal was completed by Grupo Unidos por el Canal (GUPC), an international consortium of industrial contractors. The project included contractors from Panama, Belgium, Italy and Spain and required thousands of equipment items and trucks.

On November 21 – 22, Ritchie Bros., a leading asset management and disposition company, will sell more than 1,000 items for GUPC at an unreserved auction in Panama City, Panama.

"We are honored to have been selected by GUPC to sell equipment from one of the world's largest construction projects," said Richard Aldersley, Sales Director, Ritchie Bros. "This is the last batch of equipment used on the Panama Canal expansion project. It's a great package of assets, including cranes, dozers, excavators, trucks, as well as warehouse items, new and unused parts and more. Every item will be sold without minimum bids or reserve prices. I encourage interested bidders to view the complete inventory on our website."

Equipment highlights for the November 20 – 21 auction includes 17 cranes (incl. a 2012 RT890E 90-ton 4x4x4 rough terrain crane and two 2012 Terex RT780 80-ton 4x4x4 rough terrain cranes), 15 compactors, 12 excavators, four dozers (incl. two Caterpillar D8T crawler tractors), articulated dump trucks, 18 boom trucks, 16 truck tractors, and much more. In-person inspections are available beginning November 13. Detailed equipment information and high-resolution photos are available at rbauction.com.

Two days later, on November 24, Ritchie Bros. will sell 270+ additional items via auction for multiple owners at a different location in Panama City.

November 21-22 Auction Details:

  • Location: Grupo Unidos por el Canal, Cocoli Calle Bruja, Panama City, Panama
  • Time: auction starts at 9 a.m. (local time) both days
  • Contact: +1.507.202.1110
  • Other notes: all equipment being sold is from GUPC

November 24 Auction Details:

  • Location: Via Interamericana, after Tatare River Bridge, Pacora, Panama City, Panama
  • Time: auction starts at 9 a.m. (local time) both days
  • Contact: +1.507.266.2511
  • Other notes: equipment being sold for multiple owners

For more information about Ritchie Bros. auctions, visit rbauction.com.

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance(R) equipment condition certification; Marketplacee, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat(R) auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media.

For more information, please contact:
Ian Malinski
Corporate Communications Lead
+1.778.331.5432
CorpComm@rbauction.com