Copart, a global online vehicle auction company, has purchased a 68-acre facility in West Mifflin, Pa., its 11th location in the commonwealth.
The new location will help the company meet the increased demands of buyers and sellers in the area, the company said.
The facility was formerly the General Motors Fisher Body Plant, which closed in 2007. Copart renovated the building, and it is now available for vehicle storage. Auto auctions will begin soon.
“I am thrilled with the purchase of our second West Mifflin location in Pennsylvania and look forward to serving our customers in and around the area,” Copart CEO Jay Adair said.
Copart operates more than 200 locations in 11 countries and auctions vehicles to Copart members in more than 170 countries. Members bid on vehicles using an online auction platform or using kiosks at Copart locations.
The company sells vehicles on behalf of banks, dealers, finance companies, fleet operators, insurance companies, and individual owners. On an average day, more than 125,000 vehicles are available online.
Copart was founded in 1982 and has operated with a profit margin of approximately 20 percent for the past decade, while revenue has increased 10 percent.
Financial experts forecast further growth for the company in 2020.