ADM Names Liquidity Services as a 2021 Supplier Award Winner
BETHESDA, Md., Feb. 10, 2022 /PRNewswire/ -- Liquidity Services (Nasdaq: LQDT), a leading global commerce company powering the circular economy, received the 2021 Value in Excellence Award from ADM (NYSE: ADM). The award program honors company suppliers that deliver superior performance and exceptional value to ADM and its customers.
Liquidity Services received the Value in Excellence award after the company's Surplus Asset Management program streamlined ADM's surplus inventory process, supported its sustainability goals, and created over $11 million in incremental value. ADM recovered more than $4 million from asset sales and over $6 million from capital expenditures, achieving a combined $11 million in revenue, cost avoidance, and capital expenditure savings. The program was also able to positively impact the environment by enabling the reuse and redeployment of underutilized assets - leveraging key circular economy enablers in the process.
"This achievement is a testament to our mission and team's focus on transforming surplus into wealth to create a better future for all stakeholders - sellers, buyers, and the planet," said Chairman and CEO Bill Angrick. "Liquidity Services is truly honored to be recognized for its partnership with ADM and its value-creating solutions that empower companies like ADM to build a better future for itself and its customers."
"We rely on our suppliers and vendor partners to help us maintain the entire global food supply chain in a reliable, efficient and sustainable manner," said Camille Batiste, ADM Senior Vice President of Global Supply Chain and Procurement. "We appreciate the continued partnership with Liquidity Services and are pleased to recognize their significant contributions to ADM with this award."
Liquidity Services was chosen from more than 500 ADM Global Procurement Suppliers as the sole recipient of the Value in Excellence award. The award criteria were based on both hard and soft data points from the supplier scorecard process and direct feedback from ADM stakeholders. Awards were presented to non-commodity suppliers across six categories: Value in Excellence, Safety Excellence, Quality, Sustainability, Service in Excellence, and Supplier of the Year.
About Liquidity Services
Liquidity Services (NASDAQ: LQDT) is the world's largest B2B e-commerce marketplace platform for surplus assets with over $9 Billion of completed transactions, to more than 4.7 million qualified buyers and 15,000 corporate and government sellers worldwide. It supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and defer products from landfills. For more information, visit LiquidityServices.com.
About ADM
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We're a global leader in human and animal nutrition and the world's premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
Press Contact:
Melissa Whitworth
Lightspeed PR/M for Liquidity Services, Inc.
melissa@lightspeedpr.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/adm-names-liquidity-services-as-a-2021-supplier-award-winner-301479572.html
SOURCE Liquidity Services
