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Letter to the Editor
Thursday October 25
Insurance Auto Auctions Announces Acquisition in Austin, Texas
SCHAUMBURG, Ill. -- Insurance Auto Auctions, Inc. has announced the acquisition of Austin Salvage Pool, an established 23-acre salvage facility in Central Texas. The acquisition expands IAA's ability to provide enhanced regional coverage to insurance companies already serviced by IAA in Houston, San Antonio, Corpus Christi and Dallas. The new facility in the Central-Texas corridor closes an important geographic gap, increasing IAA's market coverage to include most of the major metropolitan areas of Texas.
"The addition of the Austin facility is consistent with our strategic growth plan and represents a significant milestone to our growth in the Texas market," commented Tom O'Brien, Chief Executive Officer. "Going forward, we will continue to seek other growth opportunities that complement our existing operations in markets where we can add value."
Insurance Auto Auctions, Inc., founded in 1982, provides automotive total loss and specialty salvage services in the United States, and has 60 sites across the United States.
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