Tags
Industry News

Cat, Ritchie Bros. officially launch strategic alliance

Ritchie Bros. and Caterpillar Inc. have launched a strategic alliance, originally announced in 2016, following the Ritchie Bros. acquisition of IronPlanet, a leading online marketplace for heavy equipment and other durable assets.  

Under the alliance, Ritchie Bros. will become Caterpillar's preferred global partner for live onsite and online auctions for used Cat equipment, and will complement existing offerings within Cat dealer channels. Ritchie Bros. will provide Caterpillar and its dealers with access to proprietary auction platforms, software and other value-added services, enhancing the exchange of information and services between customers, dealers and suppliers. The strategic alliance is also expected to strengthen Ritchie Bros. relationship with independent Cat dealers around the world by providing them enhanced and continued access to a global auction marketplace to sell their used equipment. 

"Ritchie Bros. is proud to enter into this historic alliance, which will strengthen our relationship with Caterpillar, its dealers and end users, as well as help expand our global reach and footprint," said Ravi Saligram, Chief Executive Officer of Ritchie Bros. "Our marketing capabilities, unrivaled suite of technology and powerful multi-channel transactional platforms will add tremendous value and make us a trusted strategic partner to the Caterpillar family."

The strategic alliance is expected to deliver benefits to both companies, independent Cat dealers and their respective customers, accelerating the delivery of Caterpillar's connectivity offerings to improve customer fleet utilization.

"Caterpillar currently has the largest connected industrial fleet in the world and the strategic alliance with Ritchie Bros. will help strengthen this key element of our digital strategy," said Rob Charter, Caterpillar group president for Customer and Dealer Support.  "Through this alliance, we will now be able to retrofit used Cat assets with new technology. Combined with connected new equipment, the data captured from these machines will help improve our customer's productivity through our Cat Connect Technologies and Services." 

The strategic alliance between Ritchie Bros. and Caterpillar will have an initial five-year term.  Prior to the acquisition, Caterpillar and its dealers owned a minority position in IronPlanet.

Company Info

  • Caterpillar Inc.

    100 North East Adams Street
    Peoria , IL
    US , 61629

    For more than 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2016 sales and revenues of $38.537 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment

    Read more

  • Ritchie Bros. Auctioneers

    9500 Glenlyon Parkway
    Burnaby , BC
    CA , V5J 0C6

    Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest industrial auctioneer, and one of the world's largest sellers of used equipment for the construction, transportation, agriculture, energy, mining, forestry and other industries. Ritchie Bros.™ asset management and disposition solutions include live unreserved public auctions with on-site and online bidding; EquipmentOne™, an online auction marketplace; Mascus, a global online equipment listing service; private negotiated sales through Ritchie Bros. Private Treaty; and a range of ancillary services, including financing and leasing through Ritchie Bros. Financial Services. Ritchie Bros. has operations in 19 countries, including 45 auction sites worldwide.

    Read more

Latest News

Tags
Industry News
Tunneling

Herrenknecht tunnel borers continue success story in L.A.

Los Angeles is a vibrant center of international film art and innovation - not just on the surface. The area below ground is the scene of state-of-the-art engineering achievements. German high-tech machines from Herrenknecht are creating underground arteries for the American city. Tunnel boring machine (TBM) , Harriet successfully completed her drive for the Crenshaw/LAX Transit Project in April 2017. Angeli just finished digging the first of two tunnels for the Regional Connector Transit Corridor on July 18th. From spring 2018 onward the tunnel boring stars will have additional company: for each of the "Purple Line Extension Sections 1 + 2", two more Herrenknecht TBMs will be working their way through the difficult ground. All three projects are part of the strategic subway extension in L.A. to relieve the traffic above ground.

Read More

Tags
Industry News

A New Resource in the Large-diameter Pipe Industry

When Thompson Pipe Group recently acquired the concrete and steel pressure pipe assets of U.S. Pipe, previously a division of Forterra, it instantly became a major provider of pipe to the water, wastewater, power and industrial markets in North America. With manufacturing plants throughout the country, Thompson Pipe Group now offers a uniquely comprehensive portfolio of open-cut and trenchless pressure and gravity pipe solutions, together with related products.

Read More

Tags
Industry News

Mexico City’s Record-Breaking Crossover TBM makes Final Breakthrough

In June , a select group of project officials, including Mexico's President Enrique Peña Nieto, celebrated the final breakthrough of an epic tunneling project.  The 8.7 m (28.5 ft) diameter Robbins Crossover TBM is the first such hybrid machine to operate in North America, and it completed the Túnel Emisor Poniente (TEP) II on a high note.  The TBM, known an XRE—a Crossover (X) between Rock (R) and EPB (E) TBMs—navigated fault zones, variable ground, low cover, and more to achieve a national record of 57 m (187 ft) in one day as well as maximum rates of 231 m (758 ft) in one week and 702 m (2,303 ft) in one month. 

Read More

Tags
Industry News

Going deep in the nation’s capital

Gilmour Street, located south-southeast of downtown Ottawa, runs through the area of the nation's capital called Centretown. It's mostly residential with some businesses mixed in, and is situated between the Ottawa River and the historic Rideau Canal.

Read More

Tags
Horizontal Directional Drilling

Keys to a smooth running HDD operation

Success in the HDD business is about more than boring a stable hole and completing a successful pullback. It's about running your entire HDD operation like a well-oiled machine. Here are five ways we've seen successful HDD companies make businesses function more smoothly and create lasting success, followed by an example of what to look for in on specific type of tool, the backreamer. 

Read More

A world first: JCB TELESKID

The JCB Teleskid is a new machine that can reach 60 percent further forward than a standard skid steer. It is also the only skid steer in the world that can dig below its chassis to a depth of around one metre. 

Read More

New PTO-driven options available for vacuum excavators

McLaughlin has extended its Vermeer MEGA VAC vacuum excavator product line with new PTO-driven options. The Vermeer VXT truck series was developed in response to industry requests for a productive vacuum excavator that meets weight regulations and that is backed by the support of the Vermeer dealer network.

Read More

Tags
Industry News

Remote charging stations allow drones to handle long-range data collection missions

SkyX has installed its first production xStation, a unit that remotely recharges SkyX drones during missions. The xStation is a rugged, all-metal piece of engineering designed to allow the SkyOne drone to remotely recharge while monitoring long-range infrastructure, then continue its mission. By installing multiple xStations along a route, SkyOne can monitor assets like oil and gas pipelines or railroad tracks that stretch hundreds - even thousands - of kilometres.

Read More

Vibratory plow aids in range of installations

Ditch Witch, a Charles Machine Works Company, has released the new, compact VP30 vibratory plow to help operators efficiently install a variety of residential utility products in tight spaces and with minimal surface disruption. From fibre to small irrigation pipe, the unit is the ideal, cost-effective solution for product installation beneath residential properties.

Read More

Cat M315F & M317F Wheeled Excavators Deliver Job Site Agility, Reliable Performance, Low Cost Operation and Operator Convenience

The new Cat M315F and M317F compact radius wheeled excavators are additions to the recently launched Cat F Series wheeled excavator range. The new models make no compromise in power, performance, or stability, compared with their non-compact counterparts, and feature large working envelopes, high breakout forces, and high lifting capacities.

Read More

Tags
Industry News

Ritchie Bros. and IronPlanet Secure Unconditional Antitrust Clearance from the U.S. Department of Justice; Acquisition is Expected to Close in the Next Few Weeks

Ritchie Bros., has announced the receipt of unconditional antitrust clearance from the U.S. Department of Justice for the proposed acquisition of IronPlanet, an online marketplace for heavy equipment and other durable assets. Ritchie Bros. outstanding brand reputation and high degree of customer trust, coupled with IronPlanet's digital prowess built on user friendly technology, will provide multiple product and channel offerings to customers.

Read More

Volvo CE unveils 100% electric compact excavator prototype

Volvo Construction Equipment (Volvo CE) unveiled its latest concept machine – known as the EX2 – to industry specialists, policymakers, the media and academics at the Volvo Group Innovation Summit on Tuesday May 16th. The 100% electric compact excavator prototype delivers zero emissions, 10 times higher efficiency, 10 times lower noise levels and reduced total cost of ownership compared to its conventional counterparts. It is believed to be the world’s first fully electric compact excavator prototype. 

Read More