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Liquidity Services, Inc. to Conduct Auction for Caltex Australia’s Kurnell Refinery

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Liquidity Services, Inc. (NASDAQ:LQDT) today announced that a sealed bid auction has been scheduled for operational units at Caltex Australia’s Kurnell refinery. The units within the refinery, which has a nameplate capacity of 135,000 barrels per day, are being offered as a complete package and comprise over ten individual process units including: Crude Units, FCC Units, Reformer Units and a Sulfur Recovery Unit. Until September 30, 2014, prospective buyers can see the plant in operation and meet with the operators and engineers in order to learn more about the “ins and outs” of operating the refinery.

Interested buyers will have the opportunity to make an offer on the entire refinery or on individual process units via Liquidity Services’ marketplace www.NetworkIntl.com. The sealed bid auction opens on Wednesday, September 17, 2014 at 12am CDT and closes on Wednesday, October 1 at 4pm CDT. For more details on scheduling a visit to the facility and to register to bid, please visit: www.Networkintl.com/Kurnell-Refinery.

Caltex said it would complete the conversion of its Kurnell refinery site into a major fuel import terminal during the fourth quarter of 2014 and is exploring options for the re-use or sale of redundant plant and equipment.

“This sale presents a rare opportunity for commercial buyers in the refining and petrochemical industry to purchase a fully-operational plant from a globally recognized organization,” said Tom Burton, President and EVP of Liquidity Services’ Capital Assets Group. “Caltex’s decision to market and sell its soon-to-be-closed refinery assets prior to the plant shutdown in October has also created a unique opportunity and advantage for potential buyers to inspect the plant and see it in operation before bidding.”

Below is a partial list of items that will be available for sale:

  • 60,000BPD Crude Unit
  • 21,500BPD FCCU
  • 21,700BPD FCCU
  • 2,600BPD Poly Unit
  • 3,600BPD Alkylation Unit
  • 15,532BPD Platformer
  • 75,000BPD Crude Unit
  • 24TPD Sulfur Recovery Unit
  • 15,700BPD Rheniformer
  • 32,750BPD Diesel Hydrotreater
  • 9,300BPD Iso Siv Unit with Pressure Swing Absorber (PSA)
  • 9,800BPD Benzene Saturation (UOP)
  • 2MW Steam Driven Power Plant with (4) Generators and (2) Boilers

Liquidity Services’ www.NetworkIntl.com marketplace allows professional buyers to source surplus energy equipment in the oil and gas, petrochemical, power/utilities, and mining industries from any location around the globe, including seven of the top 10 oil and gas companies. Bidders can evaluate available equipment from an online platform and then purchase assets via the regularly scheduled industry marketplace auctions. The Network International marketplace www.NetworkIntl.com provides buyers a safe, easy and secure purchasing experience, which includes buyer support services, logistics, and multiple payment methods.

About Liquidity Services, Inc.

Liquidity Services, Inc. (NASDAQ:LQDT) provides leading corporations, public sector agencies, and buying customers the world’s most transparent, innovative, and effective online marketplaces and integrated services for surplus assets. On behalf of its clients, Liquidity Services has completed the sale of over $4.7 billion of surplus assets in over 500 product categories, including consumer goods, capital assets, and industrial equipment. The company is headquartered in Washington, D.C. with global locations across the Americas, Europe, and Asia. Additional information can be found at: http://www.liquidityservices.com.

About Caltex Australia

Caltex is Australia’s leading fuels marketer and is underpinned by a flexible and reliable supply chain. The integrated business incorporates supply, refining, logistics and marketing. With about 22,000 shareholders, including institutions, retail investors, employees, and Chevron Global Energy Inc., Caltex is the only oil refining, fuel and convenience marketing company listed on the Australian Securities Exchange. Caltex’s vision is to continue to be the outright leader in transport fuels across Australia.

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