SAN DIEGO, November 15, 2022--(BUSINESS WIRE)--Heritage Global Partners ("HGP"), a worldwide leader in asset advisory and auction services, and a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), announced today that it has renewed its global Master Agreement with Amgen for asset valuation, disposition & redeployment services relating to its surplus or impaired physical assets globally.
"We have conducted over 80 auctions for Amgen since the inception of our relationship and the original signed Master Agreement. We are excited to continue as Amgen’s vendor for surplus asset management and look forward to being a key contributor to their financial asset recovery while simultaneously maintaining an ESG focus and keeping these assets out of landfill," said Nick Dove, President of HGP.
HGP will be responsible for the sale of surplus assets consisting of laboratory assets, manufacturing and processing machinery and equipment, building support equipment, material handling, vehicles, consumables and MRO.
"HGP currently has its 83rd and 84th auctions for Amgen scheduled in January 2023 and we look forward to a great start in the new year for Amgen’s asset recovery program," stated Craig Thompson, Senior Vice President of HGP.
Information on those auctions can be found at www.hgpauction.com
Heritage Global Partners, Inc. ("HGP") is a subsidiary of Heritage Global Inc. (NASDAQ: HGBL). HGP operates under the Industrial Assets business unit and is a full-service auction, liquidation and asset advisory firm which holds a prominent spot in the industrial sectors including Aerospace, Automotive, Aviation, Biotech, Broadcast & Postproduction, Chemical, Electronics Manufacturing, Energy, Food & Beverage, Heavy Construction, Metalworking, Oil & Gas, Pharmaceutical, Plastics, Printing, Real estate, Semiconductor, Solar, Textile & Woodworking, and others. HGP conducts 150-200 auction projects per year, globally.
Heritage Global Inc. ("HG") values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, account receivable portfolios, and intellectual property through its two business units: Industrial Assets and Financial Assets.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221115005440/en/
Craig Thompson (858) 210.8785 cthompson@hginc.com
Investor Relations: John Nesbett/Jennifer Belodeau IMS Investor Relations 203/972.9200 InvestorRelations@hginc.com
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