IAA Announces Opening of New Hawaii Branch
28 Juli 2022 - 2:30PM
Business Wire
New location significantly increases capacity,
meets growing state-wide demand
IAA, Inc. (NYSE: IAA), a leading global digital marketplace
connecting vehicle buyers and sellers, announces the opening of a
state-of-the-art, full-service facility in Honolulu, Hawaii. This
new location more than triples IAA’s capacity in the state,
providing support to meet evolving client needs. IAA’s previous
Honolulu location will be retained for overflow use and is also
available for critical CAT situations as they arise.
“We are thrilled that our new facility in Honolulu is open for
business, which is essential to IAA’s growth as we strive to meet
increasing demand in Hawaii,” said Tim O’Day, President of U.S.
Operations at IAA. “We look forward to continuing to provide a
seamless experience for our buyer and seller clients using our
industry-leading data analytics and technology, as well as our
unmatched customer service.”
The IAA Honolulu branch is located at 91-401 Malakole St.,
Kapolei, HI 96707. A listing of branch preview and sales days is
available at www.iaai.com.
About IAA
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace
connecting vehicle buyers and sellers. Leveraging leading-edge
technology and focusing on innovation, IAA’s unique platform
facilitates the marketing and sale of total-loss, damaged and
low-value vehicles. Headquartered near Chicago in Westchester,
Illinois, IAA has nearly 4,500 employees and more than 210
facilities throughout the U.S., Canada and the United Kingdom. IAA
serves a global buyer base – located throughout over 170 countries
– and a full spectrum of sellers, including insurers, dealerships,
fleet lease and rental car companies, and charitable organizations.
Buyers have access to multiple digital bidding and buying channels,
innovative vehicle merchandising, and efficient evaluation
services, enhancing the overall purchasing experience. IAA offers
sellers a comprehensive suite of services aimed at maximizing
vehicle value, reducing administrative costs, shortening selling
cycle time and delivering the highest economic returns. For more
information visit IAAI.com, and follow IAA on Facebook, Twitter,
Instagram, YouTube and LinkedIn.
Forward-Looking
Statements
Certain statements contained in this release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and which are subject to
certain risks, trends and uncertainties. In particular, statements
made in this release that are not historical facts may be
forward-looking statements. Words such as "should," "may," "will,"
"anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates" and similar expressions identify forward- looking
statements. Such statements include statements regarding the
expected timing and associated benefits with respect to the opening
of the IAA Honolulu (HI) branch on our business and plans regarding
our growth strategies and margin expansion plan, and to our
customers and company generally. 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, but are not
limited to: uncertainties regarding COVID-19, and other potential
future health crises, including new more contagious and/or vaccine
resistant variants, and the impact on the duration and severity of
the COVID-19 pandemic and measures intended to reduce its spread,
including the availability, rate of public acceptance and efficacy
of COVID-19 vaccines; the loss of one or more significant vehicle
suppliers or a reduction in significant volume from such suppliers;
our ability to meet or exceed customers’ demand and expectations;
significant current competition and the introduction of new
competitors or other disruptive entrants in our industry; the risk
that our facilities lack the capacity to accept additional vehicles
and 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; our ability to
implement and maintain measures to protect against cyberattacks and
comply with applicable privacy and data security requirements;
risks associated with online commerce security and credit card
fraud; our ability to successfully implement our business
strategies or realize expected cost savings and revenue
enhancements, including from our margin expansion plan;
weather-related and other event beyond our control which may
adversely impact operations; failure to attract and retain key
personnel, have inadequate succession planning, or manage labor
shortages; business development activities, including acquisitions
and the integration of acquired businesses, and the risks that the
anticipated benefits of any acquisitions may not be fully realized
or take longer to realize than expected; our expansion into markets
outside the U.S. and the operational, competitive and regulatory
risks facing our non-U.S. based operations; our reliance on
subhaulers and trucking fleet operations; changes in used-vehicle
prices and the volume of damaged and total loss vehicles we
purchase; economic conditions, including fuel prices, commodity
prices, foreign exchange rates and interest rate fluctuations;
trends in new- and used-vehicle sales and incentives; and other
risks and uncertainties identified in our filings with the
Securities and Exchange Commission (the “SEC”), including under
Item 1A “Risk Factors” in our Annual Report on Form 10-K filed with
the SEC on February 28, 2022, as such risk factors may be amended,
supplemented or superseded from time to time by other reports we
file with the SEC, including subsequent Quarterly Reports on Form
10-Q and Annual Reports on Form 10-K. Many of these risk factors
are outside of our control, and as such, they involve risks which
are not currently known that could cause actual results to differ
materially from those discussed or implied herein. The
forward-looking statements in this release are made as of the date
on which they are made and we do not undertake to update our
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220728005217/en/
Media Inquiries: Jeanene
O’Brien | IAA, Inc. SVP, Global Marketing and Communications (708)
492-7328 jobrien@iaai.com
Analyst Inquiries: Caitlin
Churchill | ICR (203) 682-8200 investors@iaai.com
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