David Fisher

Ritchie Bros. Auctioneers Incorporated (NYSE & TSX: RBA, the “Company” or “Ritchie Bros.”) today announces several changes to its reporting structure and senior management team.

Having completed an extensive review of Company operations and historical performance, Ravi Saligram, Chief Executive Officer, is now in the process of developing a strategic roadmap for the Company, which will be disclosed on January 12, 2015, at an Investor and Analyst Day in New York.  Mr. Saligram is committed to driving shareholder value and will initially focus on reinvigorating revenue and earnings growth, optimizing capital allocation and structure, and improving Return on Net Assets (RONA).

To better align Company leadership with these focus areas, Mr. Saligram is implementing a new organizational structure with the following objectives:

• Put in place regional business leaders with a strong general management focus to drive sustainable, profitable growth and cash flow of the core auction business
• Implement a more localized and decentralized structure to be more responsive and agile as a company, meet local customer needs, and foster an increased sense of urgency
• Become more externally focused, and tailor ‘go to market’ approaches based on customer needs and geographic differences
• Put in place a strong data-centric, customer focused leadership team to exploit new channels, models and services and increase market share
• Leverage vast customer and equipment data, and improve analytical rigor to develop powerful insights which will sharpen our strategic focus  and strengthen our customer value proposition

Effective immediately, three regional business leaders have been appointed to oversee and drive regional performance.  Randy Wallhas been appointed President, Canada; Jeroen Rijk has been appointed SVP, Managing Director, Europe; and, Kieran Holm has been appointed VP, Managing Director, Asia Pacific.  Reporting structures into these regional leaders will transition over the coming weeks, and are expected to be in place early in 2015.  The regional leaders will oversee all sales, operations, field marketing and support functions, with full P&L and cash flow responsibilities in their respective regions, and will report into Mr. Saligram.  The Company will shortly initiate a search for the role of President – U.S. and Latin America.  In the interim, Mr. Saligram will directly oversee this business.

Ritchie Bros. is also pleased to announce the appointment of Jim Barr as Group President, Emerging Businesses, Brand Innovation and Technology Services.  In this role, Mr. Barr will oversee EquipmentOne, Ritchie Bros. Financial Services, and the Company’s marketing and information technology departments.  He will also be responsible for developing new revenue channels through complementary products and services.  Mr. Barr was most recently Executive Vice President and Chief Digital Officer at OfficeMax, where he led the development of a digital and omni-channel transformational growth strategy and roadmap, turning digital services into a growth engine for the company. Previously, Mr. Barr held roles as President, Online, at Sears Holding Corporation; General Manager, Commerce & Marketplaces at Microsoft Corporation, where he launched and led several marketplace businesses, including comparison shopping, auctions, online classifieds listings and the Windows Marketplace; and General Manager, Business Development, MSN, at Microsoft Corporation.  He will divide his time between Vancouver, Pittsburgh, Houston and Austin, where his teams operate.  Kenton Low, Chief Marketing Officer, Bill Cooksley, SVP Information Technology, and Chris Connell, President of EquipmentOne, will report to Mr. Barr.  He will also work closely with Jim Case, CEO of Ritchie Bros. Financial Services.

Randy Wall, President of Canada, will be based out of Vancouver.  He was most recently Chief Productivity Officer, and prior to that,President and Chief Operating Officer, having rejoined the Company in 2013.  Jeroen  Rijk, SVP and Managing Director of Europe, will be based out of the Company’s Breda, Netherlands, office.  Jeroen has over 19 years of experience at Ritchie Bros., and was most recently Head of Sales for all of Europe.  He was instrumental in growing Ritchie Bros.’ presence in southern Europe and recruiting key leadership roles for the region.   Kieran Holm, VP and Managing Director of Asia Pacific, will be relocating to Japan and will oversee the Company’s Asia and Australia performance.  Most recently, Mr. Holm was a regional VP of Sales in the U.S. and previously pioneered Ritchie Bros.’ expansion into new market segments.  Mr. Holm received his MBA from McGill University (Tokyocampus) and has previously spent many years living in Japan.

Karl Werner will take on the additional responsibility of Managing Director, Middle East on an interim basis.  In his primary role as Chief Operational Support and Development Officer he will be strategically focused on global operational excellence, driving operational innovations and overseeing online operations.  Specifically, Mr. Werner will be responsible for developing and implementing company-wide operational processes, metrics and standards; ensuring our operational competencies remain a distinct competitive advantage; promoting the use of operational best practices globally; ensuring global consistency in the customer experience; and, supporting the regional business leaders to improve RONA. Mr. Werner will continue to report to Mr. Saligram.

As part of the new organizational structure and priorities for the Company, the corporate CFO role will be expanded to place more emphasis on capital allocation, and will also oversee the Company’s legal, internal audit and risk management activities.  In this context, Rob McLeod, current CFO, will transition to a new role as CFO, Americas, in 2015, and will be responsible for the financial functions in Canada, U.S., and Latin America.  Rob will play an integral role in partnering with an externally hired President – U.S. andLatin America, to unlock the full potential of the key U.S. market.  Mr. McLeod’s vast knowledge of operations and financial matters at the Company will add tremendous value to this strategically important position.  The Company will initiate a search for the new corporate CFO shortly.  Mr. McLeod will continue to act as the Company’s CFO until the position is filled.

Both Mr. Werner and Mr. McLeod will continue to be based out of the Company’s Vancouver headquarters.

As part of this reorganization, Steve Simpson will assume the role of Chief Sales Officer, Global Key Accounts – focusing on securing large special situation contracts, and driving incremental business development.  Mr. Simpson will also have a key role in corporate development initiatives targeted to expand the Company’s core auction business in priority sectors, and will oversee the Company’s Pricing and Appraisals department.  He will continue to be based out of Ritchie Bros.’ Fort Worth, Texas, office, and will manage a focused international team, exclusively dedicated to special situation business development, such as securing contracts for full corporate dispersals, international mine closures, and large scale oil and gas asset redeployment.

“Our new regional structure, with its clear lines of accountability and performance focus, will be foundational in reinvigorating growth through disciplined execution.  I am confident that with the caliber of our new Executive Team we will be able to improve returns and drive shareholder value,” noted Ravi Saligram, Chief Executive Officer.  “I’m also delighted to welcome Jim Barr to Ritchie Bros. as Group President.  He has an exceptional track record of success in growing multi-channel businesses by uniquely leveraging core business channel capabilities and connecting them to the digital world.  His skill set makes him an ideal leader to realize the full potential of EquipmentOne, scale Ritchie Bros. Financial Services and pioneer new products, models & services.”

It is also with great regret that Ritchie Bros. announces that Bob Armstrong will be leaving the Company at year end.  During his 18 years with the Company, Bob played a leadership role in many key projects, including our IPO, the development of our internet bidding service and the recent launch of our EquipmentOne online marketplace.  He held many executive positions during this time, including CFO, COO and, most recently, Chief Strategic Development Officer.

FreeATM, an advertising-driven surcharge-free ATM network, unveiled today its first phase of FreeATMs across New York City. With a focus on merging marketing with consumer commerce, FreeATM’s footprint in phase one will cover twenty-five (25) locations in three boroughs including Manhattan, Brooklyn & Queens.

“New York thrives on two things: coffee & cash. Both are the lifeblood of this city. However, in communities where consumers don’t have access to their bank, consumers are left with only one option, paying a fee at independently owned and operated ATMs. For the first time, consumers now have a surcharge-free option at these independent ATMs. Any customer from any bank can use our FreeATMs and save $1.00 to $3.00 by simply watching an advertisement from a targeted brand. We hope that our customers in turn, spend locally within their communities, strengthening our great city,” notes Co-Founder & CEO, Clinton Townsend.

With strong demand from retail stores across New York City, FreeATM has already enrolled a total of 55 locations in the weeks leading up to today’s announcement. The next phase of 30 locations will be available to consumers in December, 2014.

Brands and their agencies seeking to create awareness, call to action, and/or cause marketing campaigns are provided a unique set of attributes from which to target and engage specific audiences based on geographic location, venue type, day part, demographic, & socioeconomic status.

Alongside advertising content, consumers will stay informed while on the go about national and local news through a partnership with Metro.US, whereby content will be delivered to FreeATM’s toppers daily.

FreeATM is made possible through the support of forward thinking investors led by Ithaca-based, Cayuga Venture Fund (CVF), including: Mogility Capital, Kima Ventures, Cornell University’s BR Venture Fund, TJNS Capital and a select group of angel investors spanning private equity, asset management, and consulting.

“Cayuga Venture Fund is thrilled to back an offering that provides such unique value by disrupting the status quo,” says Ken Rother, Venture Partner at CVF. “FreeATM’s vision provides consumers with saving and digital advertisers with a new out home screen, all while providing ATM operators and location owners with a revenue stream backed by a service that consumers will embrace instead of the current negative feelings toward high fee ATMs.”

Core to FreeATM’s market strategy is filling the void of a true software platform that allows for seamless media planning, content management, and distribution to digital screens of ATMs and Toppers. As part of the initial launch, FreeATM has secured partnerships with three of the Tri-State area’s largest ATM operators who will integrate the company’s software and operate FreeATMs in New York City as part of the beta; each with existing portfolios ranging from 1,000 – 3,500 ATMs. The beta will run inNew York City for the first 250 ATMs before expanding regionally to Boston, Philadelphia and Washington D.C.

Research and Markets has announced the addition of the “Ballistic Protection Market by Type, sub-type , & by Application – Global Forecasts & Analysis to 2014 – 2020” report to their offering.

The global ballistic protection market was valued at $7.90 billion in 2013 and is expected to reach $11.03 billion by the end of 2020, to grow at a CAGR of 5.11%.

This report segments the ballistic protection market on the basis of aircraft type, regions, and countries. Further, it contains revenue forecasts and analyses technological trends that are predominant in this market. The geographical analysis contains an in-depth classification for North America, Europe, APAC, Latin America, Africa, and the Middle East, which contains major countries that cover the respective markets. The sections and sub-segments in the report would contain drivers, restraints, opportunities, challenges, and current market trends that are expected to revolutionize the ballistic protection market.

Key players profiled in the ballistic protection market report are Teijin Limited (Japan), Honeywell International (U.S.), BAE systems (U.K.), Royal TenCate Corporate EMEA (Netherland), E.L. Dupont DE Nemours & Co. (France).

The ballistic protection market can be segmented into two major types-personal protective equipment and vehicle armor. Personal protective equipment (PPE) consists of protective clothing, helmets, goggles, and other equipment designed to safeguard the personnel’s’ body from external injuries. PPE protects the body from hazards that include physical, electrical, heat, chemicals, and bio hazards. PPE in the defense industry can be further segmented into soft armor, hard armor, and protective head gear.

Soft body armor is used in regular bullet and stab resistant vests, and hard armor, which is rigid reinforced body armor, and is, used in high risk situations by police tactical units and combat soldiers. Protective head gear mainly refers to high-quality helmets made of ballistic materials such as Kevlar and aramid, which possess excellent bullet and fragmentation stopping power. Vehicle armor refers to the armor plating used mainly in military vehicles to withstand the impact of shrapnel, bullets, missiles, or shells, protecting the personnel inside from the enemy attack.

Polk Audio and Definitive Technology have launched their first national brand campaigns designed to highlight the powerful sound and immersive music listening experiences created by their new wireless music systems. Admired by audiophiles and music lovers alike, and renowned by the audio industry for pioneering decades of innovation and high-performance sound, Polk and Definitive Technology have developed multichannel advertising campaigns to celebrate both brands’ legacy of design and engineering expertise and communicate their continued commitment to bringing great-sounding music systems to the consumer.

“Polk and Definitive Technology have built a longstanding reputation for sound and product excellence, and we felt that now was the time to communicate how we continue to set the bar so high with the debut of the brands’ wireless music systems,” said Blair Tripodi, Chief Marketing Officer of Sound United, a division of DEI Holdings. “The campaign creative shows what makes our brands unique and our sound quality superior through disruptive ad concepts designed to cut through the clutter of more mainstream advertising. We are excited to share our campaign with our customers in a fun and engaging way that brings our new wireless music systems to life.”

Both companies tapped DOJO, a San Francisco-based advertising agency, to develop the creative campaigns that will be used primarily in digital, Internet radio and out-of-home advertisements with supporting social, mobile and local consumer activations in top markets.

Using the theme “Festivals,” Polk’s campaign expands on the brand’s passion for music. Founded in 1972 by three college grads in their small garage, the brand has remained steadfast in its commitment to innovating and pushing the limits of technology to deliver an authentic sound that allows consumers to live their love for music to the fullest anywhere in their home. With the debut of its first wireless music system, Polk seeks to transform people’s home into the ultimate music festival so they can make their favorite music truly come alive.

Definitive Technology’s loudspeakers have been praised by audio critics and consumer audiophiles for their premium materials, precise workmanship and uncompromising sound quality. The campaign theme, “What Obsession Sounds Like,” demonstrates its unyielding pursuit of achieving sound perfection through its first wireless music system crafted to produce flawless, uncompromising and superior music. Ads feature Grammy Award-winning singer and songwriter John Legend, Definitive Technology’s brand ambassador.

To complement the campaign launch, Polk and Definitive Technology have created dedicated landing pages on their websites to view video content, learn more about their wireless music systems’ product features, and stay up-to-date on the latest developments in the category. Additionally, Polk has created a digital concert poster generator for consumers to create their own customized home music festival promotional materials with others. The generator allows for people to upload personal photos from social media, create personalized messages and choose from a series of color palettes and visual styles with a contest launching later this fall.

Compass Datacenters has implemented a unique new training program for customers that helps ensure that when they get the keys to their new data center facility, the handover and startup processes are seamless and successful. In collaboration with Schneider Electric and Lee Technologies, Compass has created a series of 16 video-based training seminars that are designed to prepare customers and each member of their data center team to successfully assume control of their new data center facility and begin operations. The training videos are designed to work hand-in-hand with Compass’ detailed operational documentation, including both Standard Operating Procedures and Emergency Operating Procedures.

“The data center industry does a lot of things well, but one clear area of weakness has always been the way we as an industry hand over completed data center facilities to customers. Customers too often get inadequate support once they get the keys to a new data center, and that’s not fair to them, especially when you consider the complexity of data centers today,” said Chris Crosby, CEO of Compass Datacenters. “Data center providers should do more, and Compass is setting a new standard for that level of support with our CompassCare program.”

“Handing over the keys to a new data center isn’t the end of the process for a data center provider. It should be the beginning of a new phase of a data center provider’s work with a customer,” said Rebecca Brese, Senior Vice President of Quality and Service at Compass. “This new video training program is one of the ways Compass is helping set customers up to succeed as soon as they walk into their new facility no matter if they buy or lease the facility. In addition, this training resource also ensures operational excellence over time by allowing new employees to receive the same training that a data center’s original staff receives.”

This video training program expands the support services that Compass provides to customers through CompassCare™. For customers that choose to operate their Compass data center with their own personnel (rather than have Compass manage it on their behalf), Compass Datacenters provides a full set of support services including:

• This new video-based training and hands-on training about key issues such as BMS operation, HVAC and electrical system maintenance, fire alarm/protection system operation, generator maintenance and more
• A comprehensive suite of documentation for all aspects of the facility’s operation, including both standard operations and emergency operations
• A warranty program that provides peace of mind and risk mitigation for customers, including the availability of extended warranties for key components that customers may want to back with stronger protection
• Special support for upgrades and changes that customers may want to make in the future, via Compass’ preferred relationships with vendors for enhanced solutions related to BMS, DCiM, security, HVAC and more
• Quarterly performance and business reviews to ensure aligned priorities.

ATK (NYSE: ATK), a world-leading producer of ammunition, precision weapons and rocket motors, announced today that it has received $65 million in contracts for medium- and large-caliber ammunition. These awards provide training and tactical ammunition for air, land and sea platforms, and advanced capabilities for existing ground platforms, providing combat overmatch against current and future threats.

The contracts awarded include both domestic and international orders for 25mm, 30mm and 120mm tactical and training ammunition.

The contracts were awarded through U.S. Army Maneuver Ammunition Systems in its role as the Single Manager for Conventional Ammunition.

“The cornerstone of our business remains the production of proven tactical and training ammunition,” said Dan Olson, vice president and general manager of ATK’s Armament Systems division. “Also, providing advanced rounds such as programmable air bursting ammunition for platforms armed with our MK44Bushmaster^® Automatic Cannons enables superior warfighting capabilities for existing systems to defeat future threats without the requirement for new weapons and weapons platforms.”

“ATK’s broad ammunition expertise, proven through its production of millions of rounds and development of advanced capabilities, enables us to meet the continued demands of our customers,” said Mike Kahn, president of ATK’s Defense Group. “We are focused on providing both the U.S. military and our allies with safe, reliable and high-performing ammunition for everything from individual weapons to large-caliber tank rounds.”

The large-caliber ammunition award included funding to deliver 120mm, M1002 Multi-Purpose Anti-Tank, Target Practice with Tracer, designed for use with the M1A1/A2 Abrams main battle tank. This award provides for the final year of a multi-year contract previously awarded to ATK for tank training ammunition.

Medium caliber orders included an international order for the MK310 Programmable Air Bursting Munition (ABM) with Tracer from the Belgian Army for use with their Piranha III combat vehicles outfitted with ATK-produced MK44 cannons with ABM fuze setting capability.

Additional orders include the 30mm PGU-13 High Explosive Incendiary (HEI) cartridge; the LW30mm M788 Target Practice and M789 High Explosive Dual Purpose tactical round; the 25mm M792 HEI-T using the ATK-developed self-destruct fuze; and the 25mm PGU-23 untraced target practice cartridge.

Ammunition production occurs at ATK-managed facilities located within Allegany Ballistics Laboratory in Rocket Center, West Virginia; Lake City Army Ammunition Plant in Independence, Missouri; and New River Energetics in Radford, Virginia. Program management for medium- and large-caliber ammunition is performed from ATK’s Armament Systems division in Plymouth, Minnesota.

ATK’s Defense Group is an industry leader in providing innovative and affordable ammunition, precision and strike weapons, electronic warfare systems, and missile components across air-, sea-, and land-based systems.