Former Ameco president and CEO Jeff Putman has been tabbed to head GlobEquip, an e-commerce venture formed by Ameco parent Fluor to sell surplus heavy construction and mining equipment to areas with high demand such as developing nations.

“We are striving to balance out the distribution and utilization of the world's surplus equipment, generating revenues for those who own the equipment and tangible results for those needing it,” Putman said.

GlobEquip's strategic partners include financial services giant Citibank. Ameco, No. 9 on the RER 100, will provide logistics support and connections to the global construction and mining communities.

GlobEquip initially will target Latin America, China, Africa, Eastern Europe, India, Southeast Asia and the Russian Federation. Eventually, GlobEquip will expand services to include financing, leasing, escrow, and currency and commodity exchanges, according to Putman.