Copart Acquires New Facility in Pennsylvania

Autoparts Report, May 3, 2001

Copart, Inc. said that it has acquired the assets of Mountain States Auto Auction, Inc. of Mount Morris, Pennsylvania. The 34-acre facility is Copart's 81st location in the U.S. and its third facility in Pennsylvania.

"The Mount Morris location is on the southern border of Pennsylvania just minutes from Morgantown, West Virginia," said Willis J. Johnson, Copart's Chief Executive Officer. "This is an area we previously served out of our Pittsburgh location that is more than 90 miles away. The new location will enable us to serve more buyers and suppliers in the region."

Copart said it has added 11 locations since March 2000 including sites in Boise, ID; Pasco, WA; West Palm Beach, FL; Abilene, TX; San Antonio, TX; Albuquerque, NM; Harrisburg, PA; Chatham, VA; Chicago Heights, IL; Shreveport, LA and Mt. Morris, PA.

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 vehicles' owner has been made. Copart said it also provides services to other geographic areas through its national network of independent salvage vehicle suppliers.