Copart opens third Virginia yard

Wednesday, November 26, 2008 - 1:42 PM PST Modified: Wednesday, November 26, 2008 - 1:46 PM
Copart opens third Virginia yard
San Francisco Business Times - by Albert C. Pacciorini

Auto salvage giant Copart Inc. has opened its second yard near Richmond, Va. and its third in the state.

The 44-acre site, located just east of Richmond in the city of Sandstone, will serve the growing Richmond area market and decrease cycle times and reduce storage and fuel costs for customers, Copart CEO and founder Willis Johnson said in a statement.

Copart, founded in 1982, operates 145 locations in North America and the U.K. It had 2007 revenue of $748 million and employs 2,500.

The Fairfield company (NASDAQ: CPRT) acts as a middleman, auctioning vehicles for the public and business for parts and reuse to dismantlers, rebuilders, used vehicle dealers and exporters through daily online auctions.