SCHAUMBURG, Ill., Feb. 17 /PRNewswire/ -- Insurance Auto Auctions, Inc.
(Nasdaq: IAAI), a leading U.S. provider of automotive salvage and claims
processing services, today announced the acquisition of Auto Disposal Company
(ADC), which operates two salvage pools in Alabama. The acquisition now gives
IAA a total of 48 sites.
ADC, which currently processes 9,000 units per year, operates one site
near Birmingham and the other in Athens, Ala., near the Tennessee border.
"We are glad to add ADC to our list of IAA companies as well as to welcome
their management and employees to the IAA team," said James P. Alampi,
President and Chief Executive Officer. "We believe this acquisition along
with the new approved greenfield site in one of the Southeast's major
metropolitan areas will further strengthen our market penetration in this
region."
Founded in 1982, Insurance Auto Auctions, Inc. is a leading provider of
automotive and specialty salvage services in the United States, providing
insurance companies with cost-effective, turnkey solutions to process and sell
total-loss and recovered-theft vehicles, a $3 billion industry.
SOURCE Insurance Auto Auctions, Inc.
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CONTACT:
Linda C. Larrabee, Sr. VP-CFO of Insurance
Auto Auctions, Inc., 847-839-4132; or Jim Berger, General
Inquiries, 312-640-6692, Janine Warell, Analyst Inquiries,
312-640-6775, or Laura Kuhlmann-Doerer, Media Inquiries,
312-640-6727, all of The Financial Relations Board
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