Published: 02/04/2009
FAIRFIELD, CA (FEB 4, 2009) — CrashedToys, Inc. (NASDAQ: CPRT) today announced the opening of a new facility in Montgomery, Alabama. This latest addition to CrashedToys’s growing footprint marks the company’s fourth facility in Alabama, the 134th facility in North America, and the 146th facility world-wide.
CrashedToys CEO and founder Willis J. Johnson said the 20-acre will serve the southeast corner of the state, decreasing cycle times and reducing storage and fuel costs for customers.
“Combined with our existing facilities in Birmingham, Huntsville and Mobile, this new location will allow CrashedToys to take on increased capacity in Alabama and continue to provide our customers with legendary service,” Johnson said.
CrashedToys, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dismantlers, rebuilders, exporters and, in some states, to end users. CrashedToys remarkets the vehicles through Internet sales utilizing its proprietary VB2 technology. CrashedToys sells vehicle on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships, the general public and others. The company currently operates 146 facilities in the United States, Canada and the United Kingdom. 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. For more information, or to become a registered buyer, visit ~/www.CrashedToys.com.
This press release contains forward-looking statements within the meaning of federal securities laws, and these forward-looking statements are subject to substantial risks and uncertainties. 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 would be adversely affected. We have only recently entered the UK market through several acquisitions. We do not have any historic experience operating outside of North America, and we may experience challenges adapting our business model to international markets and integrating the acquired businesses. 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
