Copart, Inc. (NASDAQ: CPRT) today announced the opening of a new
facility in Warren, Massachusetts. This latest addition to Copart’s
growing footprint marks the company’s third facility in Massachusetts
and the 148th facility world-wide. Copart already has two facilities in
the Boston area.
Copart CEO and founder Willis J. Johnson said the 80-acre greenfield
site will serve the central and western part of the state, decreasing
cycle times and reducing storage and fuel costs for customers.
“This new facility allows us to be closer to our customers in another
part of Massachusetts and expands our national footprint,” Johnson said.
“With the additional capacity this facility offers, along with its
location in the center of the state, Copart furthers its ability to
provide the legendary service our sellers and buyers have enjoyed for
years.”
Copart, founded in 1982, provides vehicle sellers with a full range of
remarketing services to process and sell salvage and clean title
vehicles to dismantlers, rebuilders, exporters, and in some states, to
end users. Copart remarkets the vehicles through Internet sales
utilizing its proprietary VB2 technology.
Copart sells vehicles on behalf of insurance companies, banks, finance
companies, fleet operators, dealers, car dealerships, the general
public, and others. The company currently operates 148 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.
Copart recently enhanced its website to make it easier for new buyers to
search for and view vehicles offered at www.copart.com.
Public buyers can also now purchase cars at Copart through independent
third-party resellers. For more information, or to purchase vehicles,
visit www.copart.com.
FORWARD LOOKING STATEMENTS:
This press release contains forward-looking statements within the
meaning of federal securities laws, including statements regarding our
expectations with respect to certain anticipated benefits to our
customers related to the opening of our new facility such as potential
decreases in cycle times and reductions in certain costs. 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.
Copart, Inc.
Marla J. Pugh, 707-639-5185
Communications
Manager
