Ritchie Bros. Auctioneers to conduct complete dispersal of Niagara Tunnel Project equipment items at unreserved auction in Niagara Falls, ON June 17-18

Assets from high-profile Ontario tunnelling project to be sold to highest bidders in a two-day unreserved public auction

NIAGARA FALLS, ON, June 10, 2013 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, is selling more than 1,600 heavy equipment items as part of a complete dispersal for The Niagara Tunnel Project—a hydro-electric tunnel project in Niagara Falls, Ontario that will provide renewable power to the region for the next 100 years. Equipment being sold in the June 17 - 18 unreserved public auction in Niagara Falls includes more than 40 mobile structures (office trailers, portable camps and more), 80 truck tractors, a multitude of pumps and much more. All equipment items will be sold unreserved to the highest bidders with no minimum bids or reserve prices. Bidders can bid in person at the auction site, online at www.rbauction.com or by proxy.

The construction of the Niagara Tunnel Project was a joint venture between the Ontario Power Generation (OPG) and STRABAG SE, one of Europe's leading construction groups. OPG contracted STRABAG SE to construct a tunnel starting under the city of Niagara Falls and running towards the Sir Adam Beck generating complex starting in 2005. The tunnel was officially opened on March 21, 2013.

"The equipment featured at the upcoming Niagara auction was mainly used for tunnel excavation, lining, concrete pumping and water proofing," said Oskar Roittner, Principal of the Tunnelling Division of STRABAG SE. "The Niagara Falls Tunnel is a project of great magnitude, therefore you have to be able to maintain everything on your own and with great speed. All of our equipment was maintained by certified mechanics on our on-site workshop."

"This will be the first time we sell with Ritchie Bros. and, having attended their most recent auction in Toronto (Bolton), we are confident by the number of interested buyers they can attract to the auction - thus bringing in fair price levels for our equipment," added Mr. Roittner.

"We are very excited to be able to provide the world's builders a convenient and transparent way to purchase this unique and well-maintained selection of equipment at fair market prices," said Anna Sgro, Senior Vice President, Sales, Ritchie Bros. Auctioneers. "The auction features a wide selection of equipment from the heavy earthmoving, construction, mining and concrete industries—there is something for everyone. We encourage interested bidders to come visit us at the Niagara Falls auction location to inspect and test the equipment starting on June 14 as everything will be sold to the highest bidder, regardless of price, on June 17 & 18."

Niagara Falls, ON auction - equipment highlights:

• Almost every item used in the construction of the Niagara Tunnel Project will be sold at the June 17-18 unreserved public auction. The only items not being sold at the auction are the Tunnel Boring Machine and approx. 10 kilometers of conveyor belts.
• Four 2011 Nisbau batch plants,
• A 2008 Normet NSB900 spray boom,
• A 2007 Terex RT780 80-ton 4x4x4 rough terrain crane,
• A large selection of 2009 Comeva MOB 680 mixers,
• And much more.

Niagara Tunnel Project Quick Facts

• The amount of rock and debris removed during construction—approx. 1.7 million cubic metres—was enough to fill 100,000 dump trucks.
• The amount of concrete used to line the tunnel—approx. 400,000 cubic metres—was enough to build a sidewalk from Windsor, ON to Quebec City.
• The Niagara Tunnel is 10.2 km long and 12.7 metres in diameter—as high as a four storey building.
• The Niagara Tunnel contains approximately 1,300,000,000 litres of water.
• The new tunnel propels 500 cubic metres of water per second (17,660 cubic feet)—equal to the speed and volume it would take to fill an Olympic swimming pool in a matter of seconds.
• On average, the tunnel will annually produce more power than cities the size of Kingston and Niagara Falls use every year.
• The tunnel is about 1.5 times larger in diameter than the Euro Tunnel railway tunnels under the English Channel.
• It took approximately eight years and 580 workers, including multiple project supervisors, workers and maintenance workshop personnel, to complete the project.

Niagara Falls, ON auction details:

• Auction location: 2520 Stanley Avenue, Niagara Falls, ON L2E 6S4
• Site phone: [phone]
• Date and time: Monday & Tuesday, June 17 & 18, 2013 — auction begins at 8:00 am (Eastern Time) each day
• Equipment inspection: Begins on Friday, June 14 from 9:00 a.m. to 3:00 p.m. daily
• Auction is open to the public; registration to bid is free; a refundable bid deposit may be required
• How to register and bid:
• In person at the auction site
• Online at rbauction.com - register in advance and bid online in real time on auction day; a refundable bid deposit may be required; first-time online bidders should register several days in advance of the auction
• By proxy - phone the auction site to place a proxy bid

About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE andTSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. ^TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne^TM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.

ATTENTION MEDIA:

• Photos and other media resources are available for use at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

SOURCE: Ritchie Bros. Auctioneers

Jose Vargas, Corporate Communications Specialist, Ritchie Bros. Auctioneers
Tel [phone] or Email [email protected]

Or

Anna Sgro, Senior Vice President, Sales, Ritchie Bros. Auctioneers
Niagara Falls site tel. [phone]