Copart Expands in Florida

July 25, 2007

Copart Inc. announced the opening of its 12th salvage facility in the state of Florida. Located in Punta Gorda, the 20.6-acre greenfield facility will serve the Ft. Meyers area and all of southwest Florida.

“This latest facility in Florida will increase our capacity in a growing market and fill in our network making it even more convenient for our customers,” said Willis J. Johnson, Copart’s chief executive officer.

Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles, principally to licensed dismantlers, rebuilders and used vehicle dealers, through Internet sales utilizing its proprietary VB2 technology.

Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made.

The Company operates 135 facilities in the United States, Canada and the United Kingdom and is celebrating its 25th anniversary this year.

Source: Business Wire

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