Insurance Auto Auctions Announces Opening of Greenfield Facility in Jacksonville, FloridaWESTCHESTER, Ill.--May 9, 2005--Insurance Auto Auctions, Inc. , a leading provider of automotive salvage and claims processing services in the United States, today announced the opening of a new greenfield facility in Jacksonville, Florida. This new 10-acre facility will provide needed coverage in the northern part of the state and will leverage IAA's existing Florida locations in Orlando and Tampa. The new facility will also improve IAA's regional coverage, complementing another existing location in Atlanta, Georgia. Furthermore, in addition to the live physical auctions that will be conducted, the Company's live auction Internet bidding technology, I-bid LIVE(sm), has been fully installed and will be operational at this new location.
"This new facility fills a gap in coverage within the Southeast region, allowing us to recognize new opportunities in this under penetrated market," said Tom O'Brien, CEO of IAA. "We will continue to target new branch opportunities, either through greenfields or acquisitions, which complement our existing geographic footprint and enable us to provide better service for our current and potential customers."
Insurance Auto Auctions, Inc., founded in 1982, a leader in automotive total loss and specialty salvage services in the United States, provides insurance companies with cost-effective, turnkey solutions to process and sell total-loss and recovered-theft vehicles. The Company currently has 79 sites across the United States.
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Additional information about Insurance Auto Auctions, Inc. is available on the World Wide Web at www.iaai.com