Ritchie Bros. Auctioneers last week completed the purchase of nearly 16 acres of land near Tokyo where the company intends to develop a new permanent auction site. This facility will be an important step in the company's strategy to expand its presence in the Asian market. With more than 10 years of history in Japan, having a sales office in Tokyo and conducting a number of auctions in Japan over the years, the Ritchie Bros. says it is well positioned for a permanent auction site in the market.

Established in 1958, Ritchie Bros. Auctioneers is a leading industrial auctioneer. The company has more than 110 locations in more than 25 countries including 38 auction sites worldwide. Vancouver, British Columbia-based Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries.