DUBAI, UAE, June 11, 2015 /PRNewswire/ --
Copart, Inc. (NASDAQ: CPRT), a leading online vehicle auction company, today announced the opening of its third facility in the Middle East, Copart Muscat Auctions LLC. This facility is now open for business and will conduct its first auction on June 23rd, with its principal office and location in Halban/Barka, close to Muscat. Auctions will take place every Tuesday thereafter at 5 p.m. local time (see website for Ramadan timings).
Copart has been steadily increasing its presence in the Middle East, opening its Middle Eastern headquarters in Dubai, UAE, in 2012, a facility in Manama, Bahrain in May 2015, and now its first facility in Oman.
"We are excited to continue to expand capacity and offer increased capabilities to meet our clients' needs," stated Carlos Sabugueiro, Copart's CEO of the Middle East and Africa. "With its proximity to major shipping ports, the Oman facility will improve logistics and convenience for our buyers and sellers - both domestic and international."
Currently, the UAE is the second largest international destination for cars sold from Copart's North American yards. Adding new locations will provide buyers more immediate auction inventory in the region and local service provision for logistics and payment options.
"Copart's new facility in Oman is the latest expansion of our global footprint," said Vinnie Mitz, Copart's President. "With this new location, we will be better able to support our customers in the region and enhance options for our buyers in more than 150 different countries across the globe."
Copart, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some states, to end users. Copart remarkets the vehicles through Internet sales utilizing its VB3 technology. Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships and others as well as cars sourced from the general public. The company currently operates in the United States and Canada (http://www.copart.com), the United Kingdom (http://www.copart.co.uk), Brazil (http://www.copart.com.br), Germany (http://www.copart.de), the United Arab Emirates, Sultanate of Oman, and Bahrain (http://www.copartmea.com), and Spain (http://www.autoresiduos.com). Copart links sellers to more than 750,000 members in over 150 countries worldwide through its multi-channel platform. Copart was recently ranked at the top of Deloitte's "Exceptional 100" list of companies, which reviewed U.S. publicly traded companies based upon a multidimensional approach to measuring financial performance. For more information, or to become a member, visit http://www.copartmea.com.
SOURCE Copart Middle East