Acquisition of Martella Auction Company

Acquisition of Martella Auction Company in California
Ritchie Bros. Auctioneers Incorporated announced today the closing of the acquisition of the auction business and certain assets of Martella Auction Company, Inc., an agricultural and industrial equipment auctioneer based in Tipton, California.

As part of the agreement, Ritchie Bros. will lease Martella’s 65-acre auction site to conduct unreserved public auctions. Jeremy Martella, former principal of Martella Auction Company, has been named as Ritchie Bros.’ Area Manager for its Tipton site.

“We are very pleased to have closed the acquisition of Martella Auction Company and we welcome Jeremy Martella and his team to the Ritchie Bros. family,” said Peter Blake, Ritchie Bros. CEO. “As our new Area Manager for our Tipton auction site, Jeremy brings with him a wealth of expertise and experience in California’s auction business that will serve us well in strengthening our presence in both the industrial and agricultural equipment markets there.”

For Investor :
the buyer can also do / act like investor
we are very open if the buyer want to invest the money
minimum $ 3 - 10.000.000 per 50.000 mt/ month
for 100.000 mt per month you can invest US $ 20.000.000,-
for 200.000 mt per month you can invest US $ 30.000.000,-
for 300.000 mt per month you can invest US $ 40.000.000,-
for 400.000 mt per month you can invest US $ 50.000.000,-
very negotiable amount,
Or the buyer can open Bank Guarantee

The addition of the Tipton site will mark the third auction site operated by Ritchie Bros. in the state of California. Ritchie Bros. conducts up to five unreserved public auctions annually at its permanent auction sites in Sacramento and Los Angeles.

The Company will conduct a Grand Opening unreserved public auction at its Tipton site located at 16140 Highway 99 in Tipton on Friday February 12, 2010 starting at 8:00 a.m. The auction will feature agricultural and industrial equipment and trucks. Each item will be sold to the highest bidder, with no minimum bids or reserve prices. The auction will coincide with the World Ag Expo being held 10 miles north of the Tipton auction site in Tulare, California.

Equipment consignments are being accepted for this sale; owners interested in selling their equipment in the February 12th auction can contact the Tipton auction site at +1.559.752.3343 to make arrangements.

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Malaysia's nuclear power plan

Critics question need for Malaysia's nuclear power plan

Staff Writers
Kuala Lumpur (AFP) May 5, 2010
Malaysia's plan to build its first nuclear power plant ran into opposition Wednesday from politicians and environmentalists who queried how necessary and safe it would be.
The government on Tuesday said the country's growing energy needs would be met by a nuclear power station that would be up and running in 2021.

But Lim Guan Eng, secretary general of the opposition Democratic Action Party said Malaysia already had enough capacity.


"Clearly Malaysia has more energy than it needs. Without any economic grounds or energy security justification, why then does Malaysia need a nuclear power plant?" he asked.

"Malaysians wonder what assurances can be given in relation to safety and environment following the 1986 Chernobyl nuclear plant accident in Ukraine that claimed 56 lives and resulted in 4,000 cancer deaths," he added.

Loh Chi Leong, executive director of the Malaysian Nature Society told AFP: "There are obvious concerns over nuclear power."

Malaysia must develop energy efficiency technology and invest in solar, hydro and wind power, he said.

Peter Chin, minister for energy, green technology and water, said Tuesday the nuclear option was the solution to Malaysia's energy needs, and indicated the government was not keen to debate with critics but would work to reassure those living near the eventual site.

Loh said: "We would appreciate much more debate on this issue. We want an integrated formal power plan. We should concentrate on renewable energy."

Mohideen Abdul Kader, advisor with the environmental group Friends of the Earth Malaysia, expressed anger at the announcement.

"We are angry that the government does not want to engage with stakeholders. It is shocking news. Under ex-prime minister Mahathir Mohamad, the government said it was not going nuclear. There is a U-turn in our policy," he said.

Mohideen said his group also opposed the plan because Malaysia could obtain technology to make nuclear weapons.

Malaysia last month said it would strictly enforce a new law to curb trafficking of nuclear weapon components after being linked to the illegal supply of sensitive technology to Iran and Libya.

"There will be political repercussions if the government persists on building a nuclear power plant," Mohideen warned, adding that the country should concentrate on energy conservation.

State energy firm Tenaga has said it could construct the country's first 1,000 megawatt nuclear power plant at a cost of 3.1 billion dollars.

The government had asked it to look at the option as oil prices surged and in view of the country's limited supply of oil and natural gas.

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