Copart Inc. acquires Mississippi Salvage Disposal Co. Inc.; new North Carolina facility opens.VALLEJO, Calif.--(BUSINESS WIRE)--Aug. 1, 1995--Copart Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPRT CPRT Copart Inc. (stock symbol) CPRT Citizens for Personal Rapid Transit CPRT Client Perceived Response Time CPRT Coprocessor Register Transfer CPRT Cancer Prevention Research Trust CPRT Classic Professional Racquetball Tour ), a national leader in 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. vehicle disposition services, has acquired the privately owned Mississippi Salvage Disposal Co. Inc. of Jackson, Miss. Terms of the agreement were not disclosed. Mississippi Salvage processes in excess of 8,500 salvage vehicles annually from its facility in Jackson, serving Mississippi and Louisiana. The company also has opened a new facility in 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. , located outside Charlotte, serving North and South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and southern Virginia Southern Virginia is a regional name used to refer to an area in the U.S. state of Virginia, which includes the North Carolina-bordering counties of Brunswick, Charlotte, Greensville, Halifax, Henry, Lunenburg, Mecklenburg and Pittsylvania, and the cities of Danville, Emporia and . "After doubling the number of our facilities through the acquisition of NER Auction Systems in the first half of 1995, we are proceeding to fill in key regional markets through both acquisitions and start-up of vehicle auction facilities," stated Willis Johnson, chief executive officer. "These activities will serve to extend Copart's nationwide network of salvage vehicle auction facilities." Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed dismantlers, rebuilders and used vehicle dealers. 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. The company operates 44 facilities in 22 states and processes approximately 335,000 vehicles annually. It also provides services in other locations through its national network of independent salvage vehicle processors. CONTACT: Copart Inc., Vallejo Joseph Whelan, 707/748-5003 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion