Cashman Becomes 12th Member of Cat Auction Services

Monday, June 28, 2010 (Las Vegas, Nevada) Cashman Equipment Company has recently become an owner/partner in Cat Auction Services, which currently has 11 other Caterpillar dealer members. Headquartered in Bloomington, Minnesota, Cat Auction Services is a combined effort of Cat dealerships to bring new, industry-leading alternatives to customers for their used equipment disposal needs.

Although Cashman’s customers will continue to buy, trade-in, and consign used equipment in the traditional way, this new service offers the option of consigning their equipment for sale in Cat Auction Services sales. This will allow Cashman to maintain a relationship with customers when they utilize the auction channel to dispose of equipment. Previously, an auction transaction created a new relationship with an auction competitor.

This new business partnership means that Cashman is better equipped to be a total solutions provider, offering buyers and sellers a full menu of new and used equipment options. With the addition of an auction venue to assist with dispersal of your equipment, the Cat Auction Services solution includes:

• Conducting comprehensive inspections on consigned equipment so customers have full confidence in the performance of purchased products
• Offering a range of Equipment Protection Plans on qualified Caterpillar equipment, including extended warranties on powertrains and hydraulics
• Leveraging the worldwide Cat dealer network to connect customers with a larger buyer and seller audience
• Gathering an array of quality equipment for auction to attract buyers and sellers from around the world
• Providing repairs, parts, and service on auctioned equipment before or after the sale
• Using a first-class global online bidding process
• Supplying financing to pre-qualified customers through Cat Financial Services
• Working with customers to optimize tax considerations (Like-Kind Exchange and sales taxes)
• Utilizing our extensive industry knowledge, as well as our familiarity with your business, to provide effective service before, during, and after the sale

“Our customers have been utilizing auction services; we are simply providing them with an alternative. We are confident that our industry knowledge, combined with Cashman’s familiarity with our customers’ business needs, will be a huge benefit,said Todd Gilligan, Cashman Equipment’s General Manager of Sales.

To date, Cat Auction Services has held 12 auctions in six (6) states with total sales over $78 million. Approximately 29% of the volume has sold to online buyers and 12% was purchased by buyers from foreign countries.

Cashman Equipment Company… Founded in 1931 by James “Big Jim Cashman, Cashman Equipment is one of the highest rated Caterpillar equipment dealers in North America. A full service dealership, Cashman provides new and used equipment for sale and rental, as well as high-quality parts and service to construction, paving, mining, truck engine, pipeline, and power system industries throughout Nevada and parts of California. With LEED Gold certified corporate headquarters in Henderson, Nevada, Cashman is one of the largest privately-owned employers in the state. For more information, visit www.cashmanequipment.com.