Copart Bahrain Signs Agreement With Medgulf Takaful

(RTTNews) - Copart Middle East, part of online auctions and vehicle remarketing services provider Copart Inc. (CPRT), Tuesday announced that Medgulf Takaful, an insurance company in Bahrain, has entered into an agreement with Copart Bahrain.

Under the deal, the companies will work to streamline the salvage sales process. The signing ceremony was attended by Nader Saeed Al Mandeel, CEO of Medgulf Takaful and Carlos Sabugueiro, CEO of Copart in the Middle East and Africa.

Copart specializes in salvage disposal for insurance and takaful companies by using its VB3 auction technology. This technology 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.

Al Mandeel said, "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."