Another great Liquidity Services success story is of our global snack food producer client. When we first met with them, they described their current process for disposing of assets normally associated with closing facilities, closing plants, factories, or even day-to-day turnover of assets for newer ones. They left it up to their facility managers or various procurement departments to dispose of the assets. And many of the items were scrapped out that shouldn't have been scrapped out for not receiving good value. And so they were looking for a global reverse supply chain solution, and Liquidity Services provided that.
Our partnership has focused on providing them the insight through the use of Asset Zone. It's a web based tool that allows executives at the plant level to catalog their assets and make sure that they track them through the entire life cycle of that asset.
Our first test, prototype sale with them was for a, factory plant up in Canada that produced, cookies and crackers.
And from their perspective, we knocked it out of the park. It was about a three million dollar sale. We did things that they didn't think was possible. You know, we got it on time, everything removed on time, and brought them a return that was above what they were expecting.
Asset Zone has now given our client the visibility and control globally across their entire footprint to march towards a forty million dollar annual goal, and that goal is focused on how many assets we can help them redeploy, potentially resell, or source and use equipment.
