CARMEL, Ind., March 3, 2020 /PRNewswire/ -- KAR Auction
Services Inc. d/b/a KAR Global (NYSE: KAR) announced today it has
suspended all employee air travel through March 31, 2020. This temporary precaution is
being implemented in response to the COVID-19 coronavirus outbreak
and is aimed at mitigating the spread of the disease and protecting
the safety of the company's 15,000 employees across North America, the United Kingdom and continental Europe. The company emphasized this temporary
precaution is being taken proactively, and not in response to any
heightened or specific threat of exposure or spread of the virus
across its 200 operating locations and communities.
"Safety is always one of KAR Global's highest priorities, and
this includes protecting the health and wellbeing of our employees,
their families and the communities in which we live and work," said
Jim Hallett, Chairman and CEO of KAR
Global. "While reports on the extent of the outbreak and the
severity of infection have been inconsistent, there is no question
the virus is capable of impacting large populations and
geographies. We're committed to doing whatever we can to help
reduce the risk of exposure and any further spread of this
virus."
The travel restriction includes cancelling KAR's participation
in several upcoming industry events as well as in-person customer
visits and meetings requiring air travel. The company's operating
locations, including their 74 physical auctions, remain open for
business and will continue to host commercial and dealer
consignment sales as scheduled. Dealers may also continue sourcing
and selling inventory through KAR Global's online and mobile
marketplaces, including ADESA.com, TradeRev, Simulcast and the more
than 40 private label websites the company hosts on behalf of its
consignors.
"To be absolutely clear, we remain fully operational and open
for business," continued Hallett. "But we continue to monitor this
evolving situation and will strictly adhere to any federal, state
and local measures or mandates. Should any locations become locally
impacted, we have contingency and business continuity plans in
place to mitigate any disruption to our business. And our online
and mobile app marketplaces will continue to provide dealers a
digital alternative to attending sales in-person."
The company encourages dealers to visit www.KARglobal.com for
updates and check www.ADESA.com for any changes to physical auction
sales and schedules.
KAR
Contacts
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|
Media
Inquiries:
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Analyst
Inquiries:
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Gene Rodriguez
Miller
|
Mike
Eliason
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(317)
343-5243
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(317)
249-4559
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gene.rodriguez@karglobal.com
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mike.eliason@karglobal.com
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About KAR
KAR Auction Services Inc. (NYSE: KAR), known
as KAR Global, provides sellers and buyers across the global
wholesale used vehicle industry with innovative, technology-driven
remarketing solutions. KAR Global's unique end-to-end platform
supports whole car, financing, logistics and other ancillary and
related services, including the sale of nearly 3.8 million units
valued at approximately $40 billion
through our auctions. Our integrated physical, online and mobile
marketplaces reduce risk, improve transparency and streamline
transactions for customers in more than 80 countries. Headquartered
in Carmel, Indiana, KAR Global has
approximately 15,000 employees across the
United States, Canada,
Mexico, U.K. and Europe. For more information, go to
www.KARglobal.com. For the latest KAR Global news, follow us on
Twitter @KARspeaks.
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SOURCE KAR Global