All proceeds will go to educational programs and scholarships to help establish future leaders in the equipment dealer industry.
Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest auctioneer of agriculture, construction and other heavy equipment, helped raise CA$64,000 for the Canada Equipment Dealers Foundation (CEDF), which is dedicated to developing educational programs and scholarships for the equipment dealer industry. Ritchie Bros. donated and sold three auction services vouchers during a live charity auction at the Canada West Equipment Dealers Association's 2014 annual general meeting, recently held in Edmonton, AB.
"The money raised by Ritchie Bros. with the sale of their auction services vouchers will go directly to helping our industry's number one challenge: we need more trained equipment mechanics," said Cameron Bode, President of Canada West Equipment Dealers Association. "We thought our association members would be excited about the vouchers and we were right—they sold quickly and for a combined $64,000, which greatly exceeded our expectations. Ritchie Bros. has been a great partner to our association and our foundation and we look forward to more opportunities to work with them in the future."
The Canada Equipment Dealers Foundation was founded in 1998, after recognizing a shortage of properly trained mechanics. The Canada West Equipment Dealers Association established the foundation to provide educational programs and services for agricultural, industrial and outdoor power equipment dealers across Canada. Since its inception, CEDF has raised over CA$1.5 million in pledges and commitments for dealership specific educational programs and scholarships.
"We're proud to be involved with the Canada Equipment Dealers Foundation because it's really designed to help everyone. Better trained mechanics will not only help dealerships, but all equipment users—including our customers," said Simon Wallan, Vice President, Sales, Ritchie Bros. Auctioneers. "The equipment industry is undergoing constant innovation, so it's important we continue developing a strong group of tradespeople who are able to keep up. We hope our donation will help the foundation in reaching that goal."
To learn more about the Canada Equipment Dealers Foundation, visit http://www.cweda.ca/education/ced-foundation/.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros.™ solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne™ secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.