Copart Introducing Vehicle Imaging to All Facilities
18 September 1998
Copart Introducing Vehicle Imaging to All Facilities
BENICIA, Calif.--Sept. 18, 1998--Copart, Inc., today announced that it is implementing its vehicle imaging system at all of its 60 facilities nationwide.
"Our customers will soon be able to view on-line multiple images of nearly every car in inventory," said Copart President A. Jayson Adair. "I believe that the potential benefits to our suppliers and buyers are huge. For example, a supplier can avoid costly reinspection simply by logging on to our Copart Access website to view images of their vehicles at any of our facilities across the country."
"Buyers, meanwhile, will be able to see the same images on the NetLynk pages at www.copart.com. After viewing the images, which are in easy-to-work-with JPG files, buyers can print pictures and/or enter bids via our on-line bidding program. With the addition of vehicle images, Copart Buyers need not attend every auction to participate. They can evaluate and purchase vehicles from Copart, simply and efficiently, from anywhere in the world."
Founded in 1982, Copart provides vehicle suppliers -- primarily insurance companies -- with a full portfolio of services to process and sell salvage vehicles through auctions. Buyers are principally 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 60 facilities in 31 states, Copart also provides services to other locations through its national network of independent salvage vehicle suppliers.
NOTE: Certain statements in this release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors and/or factors affecting future results detailed in the company's Securities and Exchange Commission reports, including variations in the company's operating results, the inability to continue to increase service fees, the timing and size of acquisitions and facility openings, the loss of vehicle suppliers or buyers, the announcement of new vehicle supply agreements by the company or its competitors, changes in regulations governing the company's operations or its vehicle suppliers environmental problems or litigation.