BRIEF-Ritchie Bros and Caterpillar announce strategic alliance

Mon Aug 29, 2016 6:22pm EDT
 
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Aug 29 (Reuters) - Ritchie Bros. Auctioneers Inc

* Ritchie Bros. and Caterpillar Inc announce strategic alliance

* Strategic alliance between Ritchie Bros and Caterpillar will have an initial five-year term

* Ritchie Bros to become preferred provider to caterpillar and participating dealers for caterpillar equipment upon closing of acquisition of ironplanet

* New strategic alliance will become effective when Ritchie Bros completes its acquisition of Ironplanet

* New strategic alliance replaces and expands on existing agreements in place between Caterpillar, its dealers and Ironplanet Source text for Eikon: Further company coverage: