Copart Opens in Denver, Colorado
23 November 1999
Copart Opens in Denver, Colorado
BENICIA, Calif.--Nov. 23, 1999--Copart, Inc., today announced that it has opened a green-field location to serve Denver, Colorado and the surrounding area. The Denver location is approximately 20 acres and joins with Salt Lake City to become Copart's second location in the mountain-states area. The company now operates 68 locations in 34 states."With the addition of the Denver location, there is now a Copart location within a few hours drive of every major city in the Continental U.S.," said Willis J. Johnson, Copart's Chief Executive Officer.
Since January 1999, Copart has acquired or opened eight new locations. The new facilities include the Denver start-up, plus facilities in Graham, WA; Chesapeake, VA; Wichita, KS; San Antonio/Austin, TX; Nashville, TN; McAllen, TX; and Huntsville, AL.
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 68 facilities in 34 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, slowdowns in the timing or reduced size of future 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.
