Verastar Opens New Ga. Location

January 24, 2005

Verastar, a group of 12 independent salvage auctions located in Georgia, Kentucky, North Carolina, and Tennessee, announced its latest expansion, the acquisition of an 81-acre tract in the Effingham Park of Commerce in greater Savannah. The new Verastar facility will provide service throughout eastern Georgia and South Carolina.

“Verastar initiated this expansion in response to numerous requests from our insurance company customers, as well as salvage buyers,” said Co-Principal Janet Covey. “These requests reflect recognition of the outstanding level of service and value provided by the Verastar team. We look forward to providing Verastar service to our customers in this new market.” Janet and Chris Covey also own and operate the three Atlanta-area Verastar facilities, as well as the Asheville, North Carolina, and Tifton, Georgia, auctions.

The company expects to begin site development within the next 30 days, and plans to begin operations this spring, working out of temporary modular space while construction on its permanent building is underway. When completed the large, multi-purpose building will include office and meeting space, onsite claims offices for insurance clients, and an indoor drive-through auction area.

The oldest salvage pool company in the United States, Verastar began operation in 1961, and provides full-service salvage asset management and live salvage auto auctions, both onsite and over the world wide web.

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