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Insurance Auto Auctions Acquires Mid-South Salvage and Opens Greenfield Facility in El Paso

July 15, 2004

Insurance Auto Auctions, Inc., a provider of automotive salvage and claims processing services in the United States, acquired Mid-South Salvage LLC, a 15-acre operation located in Jackson, Miss. The new site holds bi-weekly onsite auctions and houses a VIC (Vehicle Inspection Center) for its insurance company customers. The site represents the Company's first operation in the state of Mississippi, but will cost effectively leverage existing operations in Baton Rouge, La. and Little Rock, Ark. The Company plans to install its new IT system in the branch in the near future.The auction’s new 8-acre El Paso, Texas, facility will provide additional coverage in the state of Texas, leveraging branches in Austin, Corpus Christi, Dallas/Ft. Worth, Houston, Longview, and San Antonio.Due to its location in the western tip of Texas, the new El Paso location will also provide support for the Company's Albuquerque, N.M., branch by serving the southern third of New Mexico. IAA's new IT system has been installed in the new location, allowing the operation to immediately leverage its reporting and processing capabilities.
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