Copart, Inc. (NASDAQ: CPRT), a leading real-time online vehicle auction company, today announced the opening of its new facility in Mebane, North Carolina. This latest addition to Copart’s footprint represents the company’s third facility in North Carolina and the 155th facility world-wide. It will process vehicles from the area between the cities of Greensboro and Raleigh, North Carolina and the North Carolina and Virginia border.
“The Mebane facility will provide much needed capacity in the state of North Carolina,” said Copart’s President Vincent Mitz, “and it will allow us to more efficiently address the demands of our insurance customers as we continue to grow our volume.”
Copart, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some states, to end users. Copart remarkets the vehicles through Internet sales utilizing its patented VB 2 technology. Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships and others as well as cars sourced from the general public. The company currently operates 155 facilities in the United States, Canada and the United Kingdom. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. For more information, or to become a member, visit www.copart.com.
FORWARD LOOKING STATEMENTS:This press release contains forward-looking statements within the meaning of federal securities laws, and these forward-looking statements are subject to substantial risks and uncertainties. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the “Management's Discussion and Analysis” and the other risks identified in Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully. We do not undertake to update any forward-looking statement that may be made from time to time on our behalf.
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