Wednesday, December 16, 2009

GoIndustry DoveBid helps generate over US$14 million in revenue for the Automotive Industry

Jack Reinelt, CEO, GoIndustry DoveBid is featured in the January issue ofAutomotive Industries.

As world leaders in Copenhagen are looking to help make the world a greener place, quietly in the background are companies like GoIndustry DoveBid that are doing their part to help recycle assets in some of the world’s biggest industries.

In the January issue of Automotive Industries, Jack Reinelt, CEO of GoIndustry DoveBid discusses how his company has helped 1200 auto-related companies manage surplus or idle assets, generating over US$ 14 million in revenue.

Via online auctions, negotiated sales, and asset management software, GoIndustry DoveBid has created an industrial used equipment marketplace for the automotive industry (and other industries), which has attracted buyers from United States, Canada, Finland, Taiwan, Egypt, Mexico and the United Kingdom. The ultimate solution in global recycling for the big automotive businesses.

From an economic point of view, Reinelt highlights how his company’s services have been critical to helping the automotive industry, particularly in North America, to unlock the value of idle assets allowing clients access to much needed capital.

"The primary issue for all types of companies during the current crisis is accessibility to capital and credit" says Reinelt, "Our ability to sell surplus assets to raise cash and redeploy assets to save on CAPEX has been critical especially within the North American automotive sector. Many companies now realize that it makes very good financial sense to implement programs to more effectively manage their return on industrial assets on an ongoing basis, not just when there is a crisis"

Reinelt explains that the benefit to the seller is to better understand the remaining value within their assets, and to determine if they can be re-deployed internally-saving them the capital of buying new equipment. Whereas the buyers get help to locate a wide variety of assets which are much more cost effective than buying them new.

When asked about what services the automotive industry will require in the future, Reinelt says, “I firmly believe that a full understanding of asset utilization both in a production environment and non-production environment is a key to improved profitability.”

To read the full length feature of Jack Reinelt’s interview, see the January Issue of Automotive Industries or go to

About GoIndustry DoveBid

GoIndustry DoveBid is a leading provider of asset management services. If surplus or idle assets are no longer needed, we can help you understand what they are worth, whether they can be re-deployed elsewhere in your organisation, and if not, sell them at auction on your behalf.

GoIndustry DoveBid approaches the market with three distinct advantages. First, we have significant global reach so we are able to provide these services wherever they are needed. Second, most of our business is online, making it more efficient and convenient for both buyers and sellers whether it’s for a single piece of equipment or a whole production line. Third, our knowledge of the market across multiple industry sectors is unsurpassed. Since 2000, we have collected information gathered from auctions all over the world, numbering over 1500 in 2007 alone. We leverage this rich data on a daily basis through accurate valuations and appraisals for the benefit of all our customers.