Liquidity Services Announces 12-Month Contract Extension for DoD Scrap Property Sales
Liquidity Services (NASDAQ: LQDT) today announced that the Defense
Logistics Agency (DLA) has exercised the second of three twelve-month
extension options under its Scrap Property sales contract (Scrap
Contract), determining it to be in the best interest of the U.S.
Government. Through this unilateral election, the Scrap Contract's
performance period will be extended through June 9, 2014. During this
extended period, the DoD will continue to use Liquidity Services as the
exclusive channel for the disposition of scrap property that is approved
by the DoD for sale to the public.
Under the Scrap Contract, Liquidity Services manages the receipt,
storage, marketing and disposition of virtually all scrap property
generated by DoD installations throughout the United