Copart, Inc. (NASDAQ: CPRT), a leading real-time online vehicle auction company, today announced the opening of its new 17 acre facility in Webster, New Hampshire. This latest addition to Copart’s footprint represents the company’s first facility in the state of New Hampshire and the 157th facility world-wide. This facility will service the entire state of New Hampshire as well as the eastern portion of Vermont.
“The Webster facility will provide the capacity needed to address our growth in volume in the New England region,” said Copart’s President Vincent Mitz, “and by making our network more dense, we reduce the costs to our insurance suppliers to tow the car to our facility and to access the car during the sales cycle.”
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 157 facilities in the United States, Canada, the United Kingdom and the United Arab Emirates. 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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