MELFORT, SK, Oct. 28 /CNW/ - Hodgins Auctioneers Inc. (HA;TSX-V)
("Hodgins"), a provider of professional auction services, is pleased to
announce plans to develop a new auction technology geared towards the
wholesale auto auction segment. The new technology will utilize both mobile
wireless devices and desktop computers for bidding and viewing of items.
Following eight months of research and development led by Business
Development Manager Todd Bennett, Hodgins has completed a "Blueprint" for this
new technology. Mr. Bennett has 8 years of experience in the automotive
auction industry and has Beta Tested and established an e-auction marketplace
for automobiles that operated in southern Ontario for 6 years. Nick Kochar,
formerly the Chief Information Officer of Hitachi Canada, has been retained to
procure a development team and manage the project. Hodgins will also continue
to consult with automobile dealers on the functionality of the program during
the development stages.
The auto-auction marketplace in North America sells approximately eighty
billion dollars of vehicles annually. The opportunity to penetrate this
marketplace with new technology is an exciting growth opportunity for Hodgins.
Barrie Jung, President of Hodgins Auctioneers stated, "Implementation of
this technology is part of our long term growth strategy to place more
emphasis on e-commerce as well as developing new markets. This exciting
technology applied to an eighty billion dollar annual industry has great
potential to increase our revenues in a meaningful way."
Hodgins Auctioneers sees this technology rolling out in the industrial
and agricultural equipment markets following implementation in the wholesale
auto market. The system is expected to be operational by early spring 2009.
About Hodgins Auctioneers Inc.
Headquartered in Melfort, Saskatchewan for more than 50 years,
Hodgins Auctioneers is a provider of professional auction services. Hodgins is
renowned for its experienced auctioneers, award-winning promotions, dependable
results and commitment to providing the ultimate marketplace for the sale of
assets by auction.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Lauren Epp, Investor Relations Manager, Hodgins
Auctioneers Inc., Tel: (403) 585-0866, Email: email@example.com,