Press Release

DOVEBID SHOWS F&B INDUSTRY HOW TO GET VALUE OUT OF SURPLUS CAPITAL ASSETS

Melbourne, Australia (03 April, 2007) - An Australian company is urging business owners in the food and beverage industry to turn their surplus capital assets such as machinery into bottom-line gains.

Originally founded in the USA in 1937, DoveBid Inc. is one of the food and beverage industry's most experienced and innovative business-to-business online auctioneers and a global leader in capital asset management services.

DoveBid has just launched its exciting new range of services, which include valuations, online asset redeployment and global online auctions for the food and beverage industry, in Australia and New Zealand.

"Our experience with businesses in the food and beverage and related industries has taught us that too many companies are losing money because they don't have a plan for managing the assets they are no longer using," says DoveBid Australasia's managing director, Peter Berry.

"Plant equipment and machinery are replaced by newer models and become lost in the changeover. They turn into a drain on valuable storage space and a loss of potential profit."

DoveBid works with businesses in a range of industries to value their unused assets and sell them or redeploy them throughout the organisation. Surplus assets are sold through various innovative methods to turn them into additional cash flow.

The company's experience and access to global networks allows DoveBid to leverage the highest possible returns on disused and surplus machinery and equipment, regardless of size or location.

Peter says that assets can, and often do, range from single machines to multiple assets spread over various locations.

"Because we sell our customers' surplus assets to a global audience, rather than just a local one, businesses have access to more buyers and can potentially get a better return. It doesn't matter where in the world the buyer of your surplus assets comes from - DoveBid provides the infrastructure for the transaction to occur," he says.

Once an asset is sold, DoveBid can help facilitate the transportation from vendor to buyer, removing the vendor from the tiresome logistical wrangling.

"DoveBid has merged new technologies with past experiences and maximises the value of assets which sit within an organisation. By blending time-honoured auction methods and direct marketing with the internet, DoveBid has the complete ability to conduct a safe and secure online auction and to act as a secure corporate resource," said Mr Berry.

"The trend towards internet business transactions and auctions is rapidly increasing. Participation during an online auction is, not only a social activity for those seeking retail products, but now a serious medium for businesses to purchase and dispose of a multitude of assets."

With superior technology, the user-friendly online auction platform features an advanced online sales system that is based on methods which are designed to create maximum results.

"DoveBid understands the food and beverage market's needs for surplus capital assets and assists with every aspect, from internal redeployment to transaction support, the entire process is covered," said Mr Berry.

DoveBid also operates a range of other services to help businesses keep track of assets within their company and effortlessly sell the items they no longer need.

Companies can sell assets without DoveBid's direct involvement, by listing their equipment through DoveBid's Asset Management Portal (AMP). The cost of using AMP is free to vendors and allows businesses to load equipment information 24 hours a day.

DoveBid Australasia Pty. is headquartered in Melbourne.

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Media Contact
David Micallef
P 03 9686 5344

Australia
DoveBid Australasia Pty Ltd
P +61 3 9834 9000
F +61 3 9808 8031

Asia Pacific
DoveBid Singapore Pte Ltd
P +65 (0) 6334 4266
F +65 (0) 6334 0469