ADESA Corporation Strengthens Management Team.Business Editors INDIANAPOLIS--(AutomotiveWire)--Sept. 4, 2001 ADESA Corporation, a business unit of ALLETE, Inc. (NYSE NYSE See: New York Stock Exchange :ALE), today announced that Brian J. Warner, president of ADESA Canada, has been appointed to the position of president of ADESA Corporation, based in Indianapolis, Indiana “Indianapolis” redirects here. For other uses, see Indianapolis (disambiguation). Indianapolis (IPA: [ˌɪndiəˈnæpəlɪs]) is the capital city of the U.S. . Warner's appointment, which takes effect Oct. 1, 2001, was announced by current company President Jim Hallett, who will remain chairman and chief executive officer of ADESA Corporation. "Brian's addition to ADESA's corporate office strengthens an already deep management team and provides me the opportunity to focus more of my time on growing our salvage salvage, in maritime law, the compensation that the owner must pay for having his vessel or cargo saved from peril, such as shipwreck, fire, or capture by an enemy. Salvage is awarded only when the party making the rescue was under no legal obligation to do so. business and to look for opportunities to enhance our other services," Hallett said. "Brian Warner has a proven track record and his attention to the fundamentals of the auction business will strengthen existing operations and will position ADESA for growth well into the future," said David Gartzke, president of ALLETE, Inc. "Jim Hallett and his team grew ADESA from 16 to 54 auction locations and he led the company into the automobile salvage business. He will continue to seek out new growth opportunities as he serves as chairman and chief executive officer of ADESA Corporation, as well as executive vice president of ALLETE, Inc." Warner joined ADESA in 1994 as corporate controller and chief financial officer. Later he became general manager of ADESA's Indianapolis auction facility. In 1998 Warner was named president of ADESA Canada, where he grew the company from three to 13 wholesale automobile auctions and expanded ADESA's salvage presence through Impact Salvage Auctions. Warner holds a bachelor's degree from Ball State University, with majors in accounting and management information systems. "My family and I are grateful and excited about the opportunity to return to the U.S.," Warner said. "However, we are leaving behind many great friends, employees and customer relationships in a country we have grown to love." Dale Hewitt, current chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and a 30-year auction veteran, will succeed Warner as president of ADESA Canada. ADESA Corporation is North America's second-largest provider of wholesale vehicle remarketing services. The company operates 54 wholesale auctions and 24 salvage auction facilities. ALLETE, Inc., is a multi-services company with corporate headquarters in Duluth, Minnesota. ALLETE's holdings include the second-largest wholesale automobile auction network in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ; the leading provider of independent auto dealer inventory financing Inventory financing Used in the context of factoring and general finance to refer to loans to consumer product producers that use inventory as collateral. See also: Inventory loan. ; the largest investor-owned water utilities in Florida and North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. ; significant real estate holding in Florida; and a low-cost electric utility that serves some of the largest industrial customers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The statements contained in this release and statement that ALLETE and ADESA Corporation may make orally in connection with this release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Actual results may differ materially from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties, and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission. |
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