Copart Inc. announcement.VALLEJO Vallejo (vălā`hō, –lā`ō, və–), city (1990 pop. 109,199), Solano co., W Calif., on San Pablo Bay at the mouth of the Napa River; inc. 1866. , Calif.--(BUSINESS WIRE)--Jan. 23, 1995--Copart Inc. (NASDAQ/NMS: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 ) announced today that it is considering financing alternatives that it views as more favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. and therefore will not offer the convertible debt securities described in its registration statement filed on Dec. 19, 1994, with the Securities and Exchange Commission. Copart recently announced a $43.6 million acquisition of 21 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 auction yards. Upon closing the acquisition, Copart will become the largest operator of salvage vehicle auction facilities 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. , with 40 locations in 18 states. Copart 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. CONTACT: Copart Inc., Vallejo Joseph M. Whelan, 707/556-5003 |
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