ARA Product Services and Alteso Group Enter into an Agreement to Provide Solution to Product Inventory Needs

MANASSAS, Va., Feb. 26, 2013 /PRNewswire/ -- Today, the Automotive Recyclers Association (ARA) officially announced that its subsidiary, ARA Product Services LLC has reached an agreement with Alteso Group of Companies (Langhorne, PA) to provide ARA members and ARA affiliated state organization members a robust online auction platform for the efficient procurement of motor vehicles. ARA has seized this opportunity to ultimately increase members' revenue stream, lower operation costs and reduce the number of vehicles being exported. The agreement between the two organizations also provides members access to other critical cost-effective technologies for transportation and financial services.

"We're excited to announce this agreement with the Alteso," said Chris Wright, President of the Automotive Recyclers Association. "Their expert leadership team possesses the ability to tap into extensive resources to provide for the acquisition of vehicles, and we look forward to the opportunities this partnership will bring to both ARA and our members." "Our team is excited to join forces with ARA," said Mark Buffa, VP of Product Development at Alteso. "We believe our two companies are well positioned in this very competitive environment to help the industry adopt and embrace new tools and technologies that will drive higher levels of efficiency and profitability."

The increasingly competitive landscape of today's vehicle remarketing industry has propelled ARA to identify for its global membership innovative ways to access and leverage their buying power. Only in this way can professional automotive recyclers address critical business requirements and promote efficiencies which result in successful business models. Through the agreement between ARA Product Services LLC with Alteso, ARA has multiple options within the platform to address opportunities with various insurance companies, wholesalers, fleets, franchise dealers and others in a manner that significantly changes the means by which members' vehicle acquisition demands can be met.

"After a thorough process, Alteso was selected to deliver the best solution for ARA members' salvage acquisition concerns," said Michael E. Wilson, CEO of the Automotive Recyclers Association. "We look forward to this successful partnership with Alteso to provide professional automotive recyclers with an extensive portal through which members can acquire inventory in an efficient and cost effective manner."

"This is an exciting opportunity to be working with ARA and it members," said Yury Kaganov, CEO of Alteso. "Sellers and buyers are increasingly remarketing and purchasing vehicles online and our auctioning software simplifies the process for buyers and sellers to conduct these transactions online saving time and money."

About the Automotive Recyclers Association

As the expert in the economically sound reutilization of automotive parts and the environmentally friendly management of total loss and end-of-life vehicles, the Automotive Recyclers Association (ARA) boasts an infrastructure recognized worldwide which includes a multi-layered certification process that verifies ARA members' performance on environmental, safety and business standards. For more information on ARA, visit www.a-r-a.org or call (888) 385-1005.

About Alteso Group

ALTESO develops web-based services and solutions using cutting edge technology for the automotive industry. Their product portfolio consists of an online auctioning platform, brokering technology, data syndication, upstream remarketing, financial services, and online shipping software. For more information on Alteso, visit www.Alteso.com or call (215) 289-0500.

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SOURCE Automotive Recyclers Association