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Letter to the Editor
Monday January 22
Copart Acquires Its First Salvage Auction in Virginia
BENICIA, Calif. -- Copart, Inc. has announced that it has acquired the assets of Automotive Salvage Disposal Auctions, Inc. of Chatham, Virginia. The new location is Copart's first salvage auction facility in Virginia and serves the central area of the state including Roanoke, Lynchburg, Richmond and surrounding areas. The Chatham location is approximately 52 acres. The company now operates 78 locations in 36 states.
"We have acquired the Virginia location to meet the needs of our suppliers and buyers," said Willis J. Johnson, Copart's Chief Executive Officer. "We have made important gains in this market thanks to the products and services that are only available at Copart."
Since March 2000, Copart has added 8 locations including sites in Boise, ID; Pasco, WA; West Palm Beach, FL; Abilene, TX; San Antonio, TX; Albuquerque, NM; Harrisburg, PA. and Chatham, VA.
Founded in 1982, Copart provides vehicle suppliers - primarily insurance companies - with a full menu 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 recovered stolen vehicles for which an insurance settlement with the vehicle's owner has been made. Operating 78 facilities in 36 states, Copart also provides services to other geographic areas through its national network of independent salvage vehicle suppliers.
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