Minnesota Power Extends Its Line of Automotive Services
4 October 1999
Minnesota Power Extends Its Line of Automotive Services With Acquisition Of AutoVINDULUTH, Minn., Oct. 4 -- MP Automotive Services, a wholly owned subsidiary of Minnesota Power, Inc. , announced today that it has acquired AutoVIN, the Automated Vehicle Information Network. AutoVIN provides professional field information services to the automotive industry, including vehicle condition reporting, inventory verification auditing, program compliance auditing and facility inspection. AutoVIN has been providing services to Automotive Finance Corporation (AFC), an MP Automotive Services business based in Indianapolis. AutoVIN will now work closely with AFC to offer auto dealers one-stop shopping for financial and information services. "Bringing AutoVIN into the MP Auto Services group gives us opportunities to leverage existing relationships through complementary services and capabilities," said AFC President John Fuller. "Timely, accurate vehicle inspection and inventory information is critical to financial institutions, manufacturers and automotive remarketers," said J. D. Grogan, president of AutoVIN. "We have fine-tuned our suite of information and field services to meet the growing demand for higher levels of customer focus and technology utilization." MP Auto Services includes ADESA, one of the largest vehicle remarketing networks in North America with 29 wholesale automobile auctions; AFC, with more than 80 offices across North America, a leading provider of inventory financing for wholesale and retail auto dealers who purchase vehicles at auction; Professional Auto Remarketing (PAR) which sells vehicles and provides other value-added services through a nationwide network of auctions; and Great Rigs, Inc., one of the nation's largest independent transport carriers of used automobiles. Minnesota Power, Inc. is a diversified services company with corporate headquarters in Duluth, Minn. In addition to automotive services, Minnesota Power holdings include a low-cost electric utility that serves some of largest industrial loads in the United States; the largest private water utilities in Florida and North Carolina; and significant real estate holdings in Florida.