IAA Adds Over 40 Acres in Georgia
Published May 24, 2017 - Written by IAA, Inc.
WESTCHESTER, Ill., May 24, 2017 — Insurance Auto Auctions, Inc. (IAA) today announced the expansion of its Savannah and Tifton, Georgia facilities. The growth of these facilities extends the company’s footprint across the seven locations in the state and demonstrates IAA’s commitment to responding to the increasing needs of its customers in this growing market.
“The Savannah and Tifton expansions advance our pace of proactive operational growth in this important marketplace to better serve our loyal base of buyers and sellers,” said John Kett, CEO and president of IAA. “Our ability to provide day-to-day storage and services, and additional capacity as needed due to severe weather events, provides unmatched value to our customers.”
The Savannah facility, located at 348 Commerce Dr., Rincon, Georgia, is adding approximately 30 acres, designated to accommodate additional volume due to customer need as well as potential volume resulting from catastrophe (CAT) responses. The branch’s coastal location strategically positions it for effective hurricane response; it can accommodate CAT volumes from Northern Florida stretching up the coastline to North Carolina.
The Tifton site, located at 368 Oak Ridge Church Rd, Tifton, Georgia, is adding approximately 19 acres, also to accommodate additional volume due to customer need as well as potential volume resulting from catastrophe (CAT) responses. Its proximity to the Florida Panhandle allows quick response to severe weather incidents that often occur in the area.
Both locations are open for business with auctions in Savannah taking place weekly on Fridays at 9:30 a.m. and Tifton auctions taking place weekly on Mondays at 9:30 a.m.
For a list of IAA’s 170+ locations in North America, please visit www.iaai.com/locations.
For four decades, IAA has been dedicated to meeting and exceeding the needs of its global clients and giving back to the communities in which it operates. This philosophy of giving provides IAA’s more than 2,800 team members with opportunities to volunteer, mentor and financially support multiple global, national, and local charitable causes. This commitment is also reflected in IAA’s National Vehicle Donation division that, since 1994, has assisted not-for-profit organizations monetize donated vehicles to fund and support their missions.
SVP, Global Marketing and Communications
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes more than 2.5 million vehicles annually. Headquartered near Chicago, IL, IAA has 3,600 talented employees and over 190 facilities throughout the US, Canada and the United Kingdom. IAA provides a broad range of services to insurers, fleet and rental companies, rebuilders, charity organizations and financing companies that dramatically reduce the cycle time of selling a vehicle while also delivering industry-leading economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and bidding tools, enhancing the overall purchasing experience.
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding our expectations as an independent company and our ability to enhance our competitive position and drive long-term value for shareholders. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include: fluctuations in consumer demand for and in the supply of damaged and total loss vehicles and the resulting impact on auction sales volumes; our ability to meet or exceed customers’ expectations, as well as develop and implement information systems responsive to customer needs; significant current competition and the introduction of new competitors; competitive pricing pressures; the ability of consumers to lease or finance the purchase of new and/or used vehicles; our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems and to implement and maintain measures to protect against cyberattacks; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; trends in the vehicle remarketing industry; changes in the volume of vehicle production, including capacity reductions at the major original equipment manufacturers; changes in the market value of vehicles auctioned, including changes in the actual cash value of damaged and total loss vehicles; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; general economic conditions; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our information statement filed as Exhibit 99.1 to our Registration Statement on Form 10 filed with the SEC on June 13, 2019. Additional information regarding risks and uncertainties will also be contained in subsequent quarterly and annual reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward looking statement to reflect new information or events, except as required by law.
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