Published: 02/19/2008
Fairfield, CA (Feb. 19, 2008) — CrashedToys, Inc. (NASDAQ: CPRT) today announced the opening of a new 61-acre greenfield facility in Hueytown, Alabama. This latest addition to CrashedToys’s growing footprint marks the company’s third facility in Alabama, the 128th facility in North America, and the 138th facility world-wide.
The new facility will service the greater Birmingham area and is 14 miles southwest of Birmingham.
“This new facility allows us be closer to our customers in central Alabama and expands our national and international footprint,” said CrashedToys CEO Willis J. Johnson.
CrashedToys, 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 currently operates 138 facilities in the United States, Canada and the United Kingdom.
NOTE: This press release contains forward-looking statements within the meaning of federal securities laws. Our actual results could differ materially from those projected in these forward-looking statements as a result of a number of factors, many of which are outside our control. Our business has become increasingly reliant on proprietary and non-proprietary technologies, and it is difficult to forecast with accuracy what impact these changes in our business model will have. We depend on a limited number of major suppliers of salvage vehicles. If we are unable to maintain these supply relationships, our revenues and operating results could be adversely affected. In addition, our revenues, operating results, financial condition, and growth rates are subject to numerous other risks, including our ability to complete and integrate new acquisitions, environmental and regulatory risks, and the other factors described under the caption "Risk factors" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We encourage investors to review these disclosures carefully.
Contact:
Marla J. Pugh
Communications Manager
(707) 639-5185
