Medgulf Takaful B.S.C. (c) and Copart Bahrain Sign Agreement

Dec 29, 2015, 01:31 ET from Copart Middle East

MANAMA, Bahrain, December 29, 2015 /PRNewswire/ --

Medgulf Takaful, an insurance company in Bahrain, has entered into an agreement with Copart Bahrain in a signing ceremony attended by Mr. Nader Saeed Al Mandeel, CEO of Medgulf Takaful and Mr. Carlos Sabugueiro, CEO of Copart in the Middle East and Africa.

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Together, the companies will work to streamline the salvage sales process. Copart is a global online auto auction company, specialising in salvage disposal for insurance and takaful companies by using its VB3 auction technology, which brings together potential buyers from across the globe, therefore exposing a seller's assets to a wider audience and improving transparency and competition for the vehicles.

On this occasion, Mr. Al Mandeel commented, "Using Copart's vast experience, technology and operations knowledge, we aim to improve the process and achieve higher returns and improvements to our motor portfolio."

Carlos Sabugueiro added, "It is an honour to be adding Medgulf Takaful to our panel of vehicle suppliers here in Bahrain. Our auctions every Sunday are growing in strength and scale. This helps all our suppliers of vehicles as the buyer network continues to increase daily, with regular bidders being seen from all over the GCC."

ABOUT COPART:

Copart, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some states, to end users. Copart remarkets the vehicles through Internet sales utilizing its VB3 technology. Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships and others as well as cars sourced from the general public. The company currently operates in the United States and Canada (http://www.copart.com), the United Kingdom (http://www.copart.co.uk), Brazil (http://www.copart.com.br), Germany (http://www.copart.de), the United Arab Emirates, Bahrain  and Sultanate of Oman (http://www.copartmea.com), Spain (http://www.autoresiduos.com), and India (http://www.copart.in). Copart links sellers to more than 750,000 members in over 150 countries worldwide through its multi-channel platform. Copart was recently ranked at the top of Deloitte's "Exceptional 100" list of companies, which reviewed U.S. publicly traded companies based upon a multidimensional approach to measuring financial performance. For more information, or to become a member, visit http://www.copart.com.

SOURCE Copart Middle East